The economic calendar is a trader's essential tool — a scheduled list of data releases and central bank events that are likely to move the markets you trade.
IMPACT RATINGS: Calendar services rate events as high, medium or low impact. Focus on high-impact events: central bank decisions, CPI, NFP, GDP, and retail sales.
CONSENSUS VS ACTUAL: Markets move on the DEVIATION from consensus, not the absolute number. A jobs print of 200k is bullish if consensus was 150k — and bearish if consensus was 250k.
BEFORE AND AFTER THE NUMBER: Positioning begins before the release as traders speculate. The "buy the rumour, sell the news" pattern is common — be careful holding into the print if the market has already moved.
