Which economic calendars are the best
An economic calendar brings all the data that helps in fundamental analysis. Along with fundamental data, it also helps the traders who are engaged in technical analysis. With the help of economic calendars, traders can find out when is the right time to trade.
Whether you are trading USD, AUD, GBP, JPY or any other currency, it is important to know what is happening around you. But choosing the best economic calendar is not that easy as there are tons of options in the market. To help everyone get started quickly and help forex beginners - we have done the research.
In this post, we will check which economic calendar is the best one that everyone can use for their forex trading. Regardless of what market you are trading, an economic calendar is a must.
What is an economic calendar?
Before we jump to the main list of best economic calendars, it's important to know what they use. To cut to the chase, an economic calendar provides a lot of data that relates to countries.
It is a schedule of all the important dates and events that will affect the currency market. The economic calendar changes from country to country and they give you a lot of important data for free.
These calendars are very helpful in doing an in-depth fundamental analysis. For example, if you are trading USD and EUR pairs, then it is essential for you to check what is happening in America and Europe. A trader can only trade profitably if he knows what is going to happen. Here is the list of the best economic calendars that you can use to
BabyPips is the favorite platform of many and the economic calendar is among the best. If you want to have all the data in front of you in an easy way, this is the one for you. But, if you need legends in the graphs to read the data better, BabyPips is not for you. Otherwise, everything is perfect for fundamental traders for daily use.
From accurate revisions to showing the local time of the political event, you have it all. BabyPips' calendar works on all mobile devices. BabyPips has a total of 197 events that forex traders can track.
DailyFX performs all the functions you expect from an economic calendar. If you use the legend in the charts, it comes with a special event filter menu. This platform provides a historical chart for up to one year. So if you need historical data before that, then you need to use another one.
When it comes to revising data, this platform does that, but you won't find it when the data has been updated. Once the new data is available, you can check the previous data. DailyFX brings 725 events in their database that are relevant to all levels of traders.
The third free pick is Dukascopy and it does not provide you with a legend to see the exact values. Reading the data is quite easy on this platform as it shows the country code with the flag. It offers line graphs that show both actual and predicted values up to the previous year.
If you are using too many filters, then it offers country, currency, and impact filters to speed up your work a bit. And if you use the time browsing feature frequently, then it supports browsing time up to 60 days. With 518 events, Dukascopy is also an ideal choice for an economic calendar.
Econoday provides you with an ad-free view of the economic calendar for forex trading. It shows you both the revised and unrevised data values in the dashboard. But, to get this you need to click on a particular event and then you get to see the updates.
This tool uses EST /EDT format by default and you need to change it according to your zone. Browsing time is quite complex on this platform and only weekly data is available. Econoday has 179 events that come with detailed data.
Forex Factory is ideal for forex trading beginners as it has detailed data on all events. The legend of this system brings all the needed information for better trading. The best thing about Forex Factory is that you can set the first day of the week according to your need. In other platforms, you cannot change this setting.
ForexFactory also supports responsive design for better viewing on mobile devices. However, since it offers too many features, it becomes clumsy to navigate between options. It offers 287 entries on all global economic events.
FXStreet is a great name as it offers everything we need to prepare trading strategies. One thing traders need to keep in mind is the frequent market notifications. You can turn them off, but they still pile up on your device and you find that annoying.
With a total of 591 events, both beginners and experts can get the data they need. FXStreet offers multilingual support and comes with 14+ languages. This system comes with a dedicated dashboard for each economic event.
Investing is among the oldest and most trusted websites offering free updates. It provides an interactive interface for graphs & you can switch between formats. You can check both actual & predicted values at all data points.
The investing website offers a total of 591 events from different countries. When it comes to additional features, it comes with an improved notification center. It provides informative information in all types of notifications.
It comes with the support of 599 event lists that help traders with their strategies. The best part is that traders can export the entire data and use it to create strategies. So, if you don't want to visit the website daily, you can download the data and dive deep into it.
When it comes to information, it provides a textual description of all events. This information is very useful when reading historical data.
Trading Economics has a legend to navigate, but the interface is not user-friendly. This system provides a very detailed explanation for each indicator and release date. So even if you don't know the event, you will get a good perspective.
Also, you can view these events directly in the calendar. This makes your daily work with this tool easier and faster.
Trading Economics brings interactive charts and graphs that come with basic charting. From lines to columns to spline plots and more, it has it all. It comes with 788 events in the global market to help you on every important occasion.
Summary - Which economic calendars are the best
These were the best economic calendars you can use to refine your strategies. From fundamental analysis to technical analysis, these calendars will come in handy for your analysis. Whether you are a beginner or an experienced trader, this free tool is an important platform. If you are not using economic calendars, start using them to make more profits.
Along with economic event updates, you can also use XoSignals trading signals. These trading signals make trading easier and faster. If we had to choose the best options for you, they would be - BabyPips, DailyFX, FXStreet, and Investing. Beginners can start with any of these four systems and start trading profitably.
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