A live schedule of the releases that move currencies — and, more importantly, how to read it. Most traders look at the calendar to find opportunities. Experienced ones use it mainly to decide when not to be in the market.
Times shown in your local timezone. Filter by importance and country using the controls in the widget.
Calendar data provided by TradingView. Times, forecasts and released figures are supplied by a third party and may be delayed, revised or inaccurate. Always confirm against the issuing statistical agency before acting on any figure.
Every entry gives you four things: when it lands, which currency it affects, what the market expects, and — once released — what actually happened. The fourth column is where the money is, but only in relation to the third.
Markets price expectations in advance. A currency does not move because unemployment fell — it moves because unemployment fell more or less than forecast. This is why a strong number is sometimes followed by a falling currency: the number was strong, but not as strong as the market had already paid for.
There are dozens of entries in a typical week. These are the ones that consistently produce meaningful currency movement.
| Release | Frequency | Why it moves the market |
|---|---|---|
| Central bank rate decisions Fed, ECB, BoE, BoJ | Every 6–8 weeks | The single most significant scheduled event for any currency. The accompanying statement and press conference usually matter more than the rate itself, because they shape expectations for the next decision. |
| Inflation (CPI) | Monthly | The primary input into rate expectations. Core CPI, which strips out food and energy, is generally watched more closely than the headline figure. |
| US Non-Farm Payrolls | Monthly | The most watched single release in the calendar. Reliably produces sharp, fast volatility across dollar pairs — and frequently a reversal shortly afterwards. |
| GDP | Quarterly | The broadest measure of economic activity. Backward-looking, so the reaction is often muted unless the surprise is large. |
| PMI surveys | Monthly | Forward-looking sentiment among purchasing managers. The 50 level separates expansion from contraction, and crossing it tends to matter more than the exact reading. |
| Retail sales | Monthly | A proxy for consumer demand, which drives most developed economies. Feeds directly into growth and inflation expectations. |
| Employment data outside the US | Monthly | Wage growth within these reports is often the component that moves markets, since it links employment to inflation. |
This is one of the few areas where the responsible advice and the popular advice differ sharply.
Spreads widen. Often dramatically, in the seconds around a release. A pair normally quoted at one pip may cost ten.
Slippage is severe. Your stop may fill far from where you placed it. Stops do not guarantee your loss.
Direction is genuinely unpredictable. Price frequently spikes both ways within a minute before settling. Being right about the number and still losing is normal.
Use the calendar defensively. Know when high-impact events land, and decide in advance whether to reduce size, close positions, or simply stand aside.
If you hold through a release, understand that your risk during those minutes is not the risk you calculated — slippage can exceed it.
Waiting 15 to 30 minutes after a release, once spreads normalise and direction has resolved, is a slower approach that costs far less.
Note every high-impact release for the week and which session each falls in. Do this before you form any market view, not after.
Decide in advance which events you will stand aside for. A decision made calmly on Sunday is worth far more than one made thirty seconds before a release.
A swing position held through a central bank decision carries a risk you did not size for. Either accept it deliberately or reduce beforehand.
Over a few months you will build a genuine sense of which releases move which pairs and by how much — knowledge worth more than any article about it, including this one.
Trading foreign exchange carries a high level of risk and can result in the loss of all invested capital. Calendar data is supplied by a third party and may be delayed, incomplete, revised or inaccurate — it must not be relied upon for trading decisions. Volatility around economic releases can cause severe slippage, meaning stop-loss orders may execute at prices materially worse than requested and losses may exceed those intended. This page is general educational information only and is not financial, investment or trading advice. See our full Risk Disclaimer.
