December 7, 2021

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Economic Calendar South Africa- Everything you want to know

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Do you want to keep an eye on all the happenings in the market and want to never miss a single piece of news? If yes, then you should add an economic calendar into your life. It will surely assist you in knowing all the critical events. Without any delay, let’s delve into the article to understand more.

Basic Understanding of Economic Calendar

Forex trading is pretty challenging, and there are a lot of complications associated with it. But when you don’t know about things exactly, it becomes even more difficult. So, if you want to be aware of the positive/negative news, government reports, upcoming market events, and announcements, then an economic calendar can assist you greatly. Here it is highly significant to share the types of impact:

Low

There is some news that causes only little to no impact.

Medium

The second type of news is medium. Such news has the potential to move the markets relying upon the results or outcomes.

High

Some news has a significant impact on the overall market, and you have to be conscious and take every step carefully.

Method of reading the Economic Calendar

Now, let’s discuss the method of understanding the economic calendar south africa. It will assist you in becoming an expert and minimizing the chances of any mistakes. Here we are going to share all the portions of an economic calendar.

Date

At the start of the calendar, the date and time of the events are shown in chronological order. It will significantly aid you in being attentive and alert and start preparing for the upcoming event.

Time Left

After the date and time, there is a portion with the time left title. This part of the economic calendar will assist you in knowing the exact time left in the event; it can be minutes, hours, or days. In addition, if the event has already taken place, you will see “done” written in this section.

Event

The third thing you can see on the economic calendar is the country’s flag that will be affected by the event to a great extent. Bear in mind that there is a huge possibility that it may affect other countries as well. 

Impact

It is arguably the most crucial section of the economic calendar because it will assist you in knowing the impact of the event on the financial instruments associated with it. The calendar will let you know whether the result is low or high. 

Previous/Consequences/Actual

Actual

Actual indicates the actual data that has been released.

Consequences

This section shows the expectations that the professional experts agree on.

Previous

The previous section will tell you the results of the previous release.

Final Thoughts

To sum up the article, I would like to say that if you want to excel in trading, it is imperative to keep yourself updated about recent events and news. So, the economic calendar is a convenient way to know about the essential things. If you have any queries, let’s ask in the comments section.