Do you want to be one step ahead of the news? Read our daily updated Economic Calendar by pressing on the button below.
Here you will find all major economic events that will influence the assets that you can trade at abcOptions. No matter if the data will be better or worse than expected (Forecasted), you can make profit out of it by trading binary options in our Trade Room.
How to use the data displayed in the Economic Calendar?
In order to use the information of the Economic Calendar it is essential that you know how to read the information of every event. Step by step you will have to take note of the following:
First of all the time (in GMT) that the specific event will be released is given, followed by the major asset (e.g. USD, EUR, CAD, and Oil), and finally the name of the event is shown (e.g. Unemployment Rate (Jun), Interest Rate Decision (Jul), Euro Group Meeting).
In case the event deals with numbers/indexes/percentages, you will then see the Forecast figure (e.g. Unemployment Rate (Jun) Forecast: 5.4%). The forecast is then followed by the “Previous” value of the specified event. By presenting it this way, you will immediately know if the trend is up- or downgoing (or stable), because the Forecast will be higher or lower (or the same) than the “Previous” figure.
Afterwards, you will be presented with a general explanation of what the event is about and how it might impact the asset(s).
Finally, you will be presented with an advice on how to interpret the outcome of the Economic Event, in terms of taking a bearish or bullish (put or call) stand on the affected asset(s). This means simply, when the outcome of the economic event is positive, then you take a bullish stand (you expect the price of the market/asset to go up), and buy call options. And when the outcome is negatively impacting the asset, then you take a bearish stand (you expect the price of the market/asset to go down), and buy put options.
Now you understand the importance of the Economic Events Calendar and its continuing impact on all assets, it is up to you to make a profitable and well-informed decision by buying the correct binary option. The question is: Will the mentioned event affect your asset positively or negatively?
So before starting your binary options trading day, read the financial calendar and make profitable and well-informed decisions like the professional traders.