How Risk Can be Minimized through Economic Calendar?
- Asked By
- Updated On:28-Jan-2021
- Replies:2
Short Answer
An economic calendar shows the important news or data that are extremely vital for the investors, traders, speculators and so on. See how risk can be minimized through an economic calendar.
Detailed Answer
It can be said without a doubt, that the stock market is both volatile and competitive. If you want to achieve success in the market and get better returns, then it is important that you keep track of the important financial or economic events taking place across the globe.
Now, the main question that arises here how is this possible? It is certainly a very annoying and tiresome activity to visit different websites and search for economic events happening in different countries. This is where an economic calendar comes to your rescue.
How an Economic Calendar May Benefit You?
An economic calendar shows the important news or data that are extremely vital for the investors, traders, speculators and so on. The various events or data that can be determined quite easily from the calendar are as follows:
- Gross Domestic Product (GDP)
- Industrial production
- Interest rate decisions
- Production price index
- Trade balance
- Building permits
- Core retail sales
- WPI inflation
- OPEC monthly report
- Building permits
- Non-farm payroll numbers
If you look at an economic calendar carefully, then you will notice that certain events have been graded as the low, medium and high impact. As an investor, you should keep a close watch on the high impact data there is high possibility that it may affect the stock market negatively. After taking into an account, the data, you can plan your investment in the market accordingly.
All in all, monitoring the calendar constantly on the daily basis, helps you to reduce the risk and get profitable returns. It is important that you must react quickly according to the changing economic or financial events. You must browse the websites offering the real time updates on the calendar and for this purpose, you can trust the websites of the best stock advisory companies that also offer the right advice to the people and guide them to plan their next course of action.
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Discussion (1)
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victor
Hi, nice information on economic calendar. We can't remove risk completely. But, we can at least plan systematically and analyse what's available to minimise this risk. Keeping track of important financial events and market trends is really helpful in taking the correct decisions. It isn't a sure shot formula, but of course a better way to plan your investments. What do you think?