Live economic calendar
The releases that move markets, shown in your local time: inflation, jobs, growth and central bank decisions. Each release’s importance and the gap between the actual figure and the forecast are color-coded.
- In your local time
- Color-coded impact
- Actual, forecast, previous
How to read the calendar
- The time
- It shows in your device’s time zone: nothing to convert, even during the weeks when Europe and the United States change their clocks on different days.
- The impact
- A colored square comes before each release: red for high impact, yellow for medium impact, gray for low impact.
- The three figures
- The actual figure appears at the scheduled time, in green when it beats the forecast for the currency and in red when it falls short; the forecast and the previous figure are there for comparison.
- The gap that matters
- Prices don’t move on the figure alone but on its gap with the forecast: a higher-than-expected CPI makes markets expect higher rates, even if it falls from the previous month.
Key releases to know
A clear explainer for each one: what it measures, when it comes out and how markets read it.
Jobs
- NFP (Non-Farm Payrolls)The monthly US jobs report: jobs created, unemployment, and wages.
- Unemployment rateThe share of the labor force without a job and looking for work, released with the US NFP.
- Initial jobless claimsThe new unemployment benefit applications filed each week in the United States.
- Average hourly earningsThe change in US wages, released with the NFP and watched as an inflation signal.
- JOLTS (Job Openings and Labor Turnover Survey)The BLS monthly survey of US job openings, hires, and separations.
- ADP report (US private employment)The estimate of US private employment drawn from ADP payroll data, released before the NFP.
Inflation
- CPI (Consumer Price Index)The index that tracks, month after month, the prices US consumers pay.
- Core inflationInflation excluding food and energy, which shows the underlying trend in prices.
- PPI (Producer Price Index)The index that tracks, month after month, the selling prices of US producers.
- PCE (Personal Consumption Expenditures price index)The price index on which the Fed defines its 2% inflation target.
- HICP (Harmonised Index of Consumer Prices)The euro area price index on which the ECB sets its 2% inflation target.
Growth and spending
- GDP (Gross Domestic Product)The wealth created by an economy: the benchmark measure of growth.
- ISM (manufacturing and services indexes)The monthly US purchasing managers’ indexes: above 50, activity is expanding.
- PMI (Purchasing Managers’ Index)The monthly survey of purchasing managers, with a flash version in several countries.
- Retail salesSales at US stores and restaurants, published every month.
- Consumer confidence index (Michigan, Conference Board)The mood of US households, measured by the Michigan and Conference Board surveys.
- Durable goods ordersThe new orders placed each month with US factories for durable goods.
- Trade balanceThe gap between a country’s exports and imports: surplus or deficit.
- ZEW / Ifo (German economic barometers)The two monthly barometers of the German economy: markets (ZEW) and businesses (Ifo).
Central banks
- FOMC (Federal Open Market Committee)The 12-member committee that sets the US policy rate, 8 times a year.
- FOMC minutes (record of the Fed’s meetings)The detailed record of each FOMC meeting, usually published three weeks later.
- Fed dot plot (Summary of Economic Projections)The chart of dots where each FOMC participant, voting or not, anonymously projects the fed funds rate.
- ECB (European Central Bank)The central bank of the 21 euro area countries, which sets its policy rates 8 times a year.
- Bank of England (BoE)The UK central bank, whose 9-member committee sets the Bank Rate.
- Bank of Japan (BoJ)Japan’s central bank, whose every rate decision can move the yen.
- Swiss National Bank (SNB)The Swiss central bank, which in principle sets its policy rate only four times a year.
Read a release step by step
CPI, PPI, NFP: the free guide explains how to prepare for a release, read the actual figure and avoid the traps of the first few minutes.
Frequently asked questions
What is an economic calendar?
It’s the schedule of official statistics (inflation, jobs, growth) and central bank decisions. Each row gives the time, the expected impact, the actual figure, the forecast and the previous figure.
What time are releases shown in?
In your device’s time: the calendar converts times on its own. A US statistic released at 8:30 a.m. in New York shows at 1:30 p.m. in London for most of the year, for example.
What do the forecast and the previous figure mean?
The forecast reflects what economists expect before the release; the previous figure is the one from the prior period, sometimes revised. Markets react mostly to the gap between the actual figure and the forecast.
Which releases move markets the most?
Central bank rate decisions (Fed, ECB), inflation (CPI) and the US jobs report (NFP), followed by GDP and PMI surveys. Their weight depends on the context: when the Fed is watching inflation, CPI comes before everything else.
Should you trade during a release?
It’s a choice of method, not an obligation. In the seconds after a release, spreads widen and an order can be filled far from the intended price. Many prop firms forbid opening a position just before and just after a high-impact release: check your account’s rules.
Is the calendar free?
Yes, it’s open to everyone, no account needed. The calendar is provided by Tradays, the service from MetaQuotes, the maker of MetaTrader, and embedded on this page.