Binary options economic calendar is complicated thing only at the first sight. In practice, it is much easier to use it than it seems. After reading our economic calendar instructions carefully, you will be able to start using it in the binary options trading almost instantly.
So, when you view the binary options economic calendar, you can notice that it is divided into several horizontal and vertical sections. The first vertical section is the Country. In this section you can see which country the macroeconomic statistics belongs to. Below in the calendar there are flags. Using them you can understand that, for example, the consumer price index belongs to Japan, and the unemployment level belongs to the United States of America.
The second vertical section is Time. Here a trader can get information at what time the certain news will be issued. In order to set the time correctly and according to the time zone of the trader, there is a tab Time zone above the economic calendar. After clicking the arrow on the right, you will have to choose your time zone in the drop-down menu. After this, a time in the economic calendar will be shown according to the time zone of a trader.
The next vertical section is the Economic indicator. In this section a trader can see which economic indicator is being issued. On a number of occasions here you can see the name of the state administrative body that published the indicator, or an English abbreviation of the index. For example, an unemployment rate, a gross domestic product, and a consumer price index can relate to the economic indicators. In a number of cases, this section can display information on the current or the forthcoming international events of economic and political manner, including, for example, summit of the European Union’s leaders, meeting of the Big Seven, the Big Twenty, and so on.
The fourth vertical section is called Info. Each macroeconomic indicator is described in it. For example, if we mention the Gross domestic product, the Info section explains what is it, and how does it influence the macroeconomic indicators. Each economic indicator has a suchlike description. You can get more detailed information on the macroeconomic indicators here.
In the next section that is called Volatility there is chart’s information about this indicator in relation to the underlying assets that react to it. One month is taken as a period of time. In a chart you can see the changes that have occurred with this indicator in a few years. You can get suchlike information on any of the macroeconomic indicators.
The sixth section Candle shows how exactly the market has reacted to the certain indicator in the past. This section is very useful together with the previous one, as it helps to detect the indicator’s influence on the market’s trends. For example, if in the March 2012 certain indicator had turned out to be better than a forecast, this section will display how a market reacted to this news.
In the next section Period you can view what period does the certain news or the macroeconomic indicator cover. It is necessary to note that not every indicator is published monthly or only for the previous month. For example, the gross domestic product can be published as both quarters and yearly indicator. In addition, this indicator can be both preliminary for the certain quarter, and total. For this reason, it is important to carefully follow which period of time is taken as a basis for the certain indicator.
The eights section Forecast reflects forecast’s figures for the certain economic indicator. These forecasts are drawn up by different government and non-government institutions, and can seriously influence the market’s movements just before the indicator is published. For example, if the forecast is better than the previous value, the market can react to it with a growth. If the forecast is worse, then the market can react the opposite way with a decrease.
In the ninth section called the Previous cost the previous data on the certain indicators are published. Based on these data, you can also make the certain conclusion regarding the market’s movements in future.
The next section called the New cost is probably the most important column in a table. Figures, which are published in it, are the current value of an indicator. Markets use it as a basis for their current movements.
The next two columns the called Expected effect and the Real effect help a trader understand, whether there will be serious market’s movements after the statistics’ issuance. The expected effect is some sort of a forecast for the future volatility, and the real effect is published upon the issuance of the certain news.