Economic Calendar Widget shows key upcoming economic events, announcements and news. You can set up relevant economic calendar filters in a few clicks, selecting event importance and affected currencies.
Why is it Important to track the Economic Calendar?
- Economic data give indications about the economic health of a nation. There are various categories of economic data such as labor data, price data, housing data, manufacturing data, sentiment data, etc. Collectively, they tell a lot about the current economic health of a country, which has an impact of financial instruments that are traded on markets.
Is it necessary to keep track of all data?
- No. It's not important to track all the data that are released. Only the major ones from important nations are worth keeping an eye on. For instance, in the case of India, the key data to track are CPI, GDP, IIP, trade balance, and RBI monetary policy announcement.
How to use the Economic Calendar?
- First, list down important nations that influence the world markets. Some of these include the US, China, Japan, Eurozone, UK, Australia, and India. Then, within each country, list the most important indicators that are worth watching for the said country. Each of these is released at a pre-determined time over a specific period (such as weekly, monthly, or quarterly). Then, periodically monitor the trends of each of these indicators.
Which are the most useful data points in the Economic Calendar?
- There are various categories of data. These include labor market data, price data, manufacturing and services data, consumer and business sentiment data, housing data, etc. Broadly speaking, these categories of reports must be closely monitored. As far as answering which individual data are the most important, this varies from country to country. The most common ones are GDP, CPI, manufacturing PMI, services PMI, central bank policy rates, unemployment rate, etc.
How often should one track Economic Data?
- This depends on the economic calendar. As multiple reports are released almost everyday from various nations, make a habit of keeping a track of important data as and when they are released. This might include tracking the data almost everyday, with the exception of weekends and public holidays, as very few data come out on such days.
What are the timings of economic releases?
- This varies from country to country. For instance, data from Asian countries are usually released between 6 AM and 10 AM IST, data from European countries are usually released between 12 PM and 3 PM IST, while data from the US are usually released between 6 PM and 9 PM IST. As far as India is concerned, the timing is scattered throughout the day. For instance, some data such as CPI usually come out during market hours, while some such as GDP usually come out post-market hours.
Is CPI inflation more relevant to stock markets than WPI?
- The impact of WPI has gradually reduced over the last few years. This has especially been true since the time the release of CPI numbers were introduced in India. Globally too, CPI is more widely tracked than WPI, given that it tells about the inflation trends at the consumer level, which forms a major part of any nation's GDP. As a result, CPI usually tends to have a greater impact on markets than does WPI.
What is the effect of Forex Reserves on the Indian Rupee?
- Forex Reserves can have a great deal of impact on the Rupee depending on how the RBI is utilizing it. Often, at times when the Rupee is strengthening steadily, there is a tendency for the RBI to increase its Forex reserves, partly to arrest the rise in Rupee and partly to build its Forex kitty. Similarly, when the Rupee is depreciating, there is a tendency for the RBI to sell USD especially if the Rupee depreciation gets too steep and too quick. Usually, the RBI tries to curb huge volatility in Rupee, by intervening using its Forex Reserves.
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