Kathleen Brooks on Forex. Kathleen Brooks

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and the financial press often prints economic calendars at the start of each week. Also, ask your FX broker as they may provide you with a free calendar. Some even contain widgets that let you place orders or trade directly from the calendar.

      Consensus

      The key thing for traders to remember is that the actual data that comes out is only relevant based on whether it hits, misses or exceeds consensus. Consensus is an important word for the markets. Usually economic data calendars include the market’s expectation of the data release. The expected number is the mean of estimates from a number of economists who have been polled prior to the event and asked to give their views on what the number will be. Reuters and Bloomberg are some of the most popular data providers that measure the street’s expectations prior to major data releases.

      As a general rule, a data miss (the figures released are worse than the forecasts) can be currency negative, a number around expectations usually has a negligible effect, and if the reading exceeds expectations this tends to be currency positive.

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