The Latest Forex Calendar – A New Way to Trade in the UK
The latest economic calendar is perhaps the most dynamic and recent innovation in the Forex trading world. Based on the three primary economic calendars of the USA, Canada and the European Union, the entire Trading Economies are coming into alignment.
Here’s how it works. The future date is based on time periods and figures that will be used for each period of time. It differs from month to month, week to week and day to day.
For instance, the end of Q4 2020 will be an end of April in the USA Economic Calendar. That means for the first four months of 2020, we will be working with an imaginary dollar price of $100 and we will have our Forex dates to follow. By following these days, we can trade our portfolio around these trading times. Using the calendar this way will assist us to make our decisions faster.
The three primary financial calendars are the Eurozone, UK, and Canadian. The three calendars will work together, most of the time. However, they do not overlap at all. Here’s why.
For example, if you are a Canadian, then you should use the North American Economic Calendar, which is based on the United States. But as I explained, the US has its own Political Calendar and that’s the one we need to use when we want to know what the monetary area is doing. Our calculation will not be correct and our plans will fail. Please read that carefully!
So for the North American Economic Calendar, which is based on the US, you are using one currency or another but it will not be the European Union for the UK. In fact, the Currency in the UK will not even exist yet and the Currency in the European Union will not exist yet. Therefore the Financial calendars are different.
Another reason that the UK’s currency won’t be included in the Eurozone as it exists right now is because there is no Forex currency in the UK yet. The US has already created a fixed currency in the form of the dollar. The European Union, Canada and the UK are in the business of fixing one currency instead of a fixed exchange rate.
Meanwhile, the Eurozone is not much different than the North American Economic Calendar, because we are still working with one currency. We use one Euro, rather than one US Dollar.
The UK and the European Union do not care about how many currencies exist and which currency pair they use. They only care about one currency. However, in order to use the US Economic Calendar, we have to use the US Dollar. This is one of the reasons why using one Currency is best to use.
Again, as a refresher, when it comes to trading in the UK in the European Economic Calendar, we are going to use the Euro. If you were trading with the British Pound, then you would be out of luck. You cannot work with the Euro to any degree because the Euro is a fixed exchange rate. Therefore, if the Euro dropped to $100, the currency wouldn’t be worth anything to you.
As I said, this is a new and dynamic way of trading the UK and the future date will determine which currency we will use. In fact, if the Future Date is somewhere in October 2020, then you are going to want to do business with the Euro.