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Comparison of Forex Economic Calendars

July 16, 2013 (Last updated on July 31, 2013)
According to a rather old poll, more than a half of this blog’s readers use economic calendars in their trading. There is no surprise in this as even traders driven mainly by technical analysis usually consult possible fundamental news disruptions before placing any orders. Some years ago, there was no big selection of the Forex economic calendars and the choice was limited. Nowadays, many FX websites feature some kind of calendar. Unfortunately, many of them are just widgets loaded from some original source calendars. In some cases, they are more complex licensed scripts, but still offering the same content and functionality as the prototype calendar.

As a more recent poll on this blog has shown, many traders prefer Forex Factory and DailyFX calendars. The thing is that poll did not include three other important primary calendars (InstaForex, BabyPips.com and InstaForex). It has also shown that the some traders use calendars on third-party websites powered by one of the source calendars.

One of the main aims of this post is to provide an in-depth review of the calendars in order to find out whether currency traders really choose the best option among financial calendars or just go with what is popular.

The List

I have chosen 10 most popular calendars to research. The list of original Forex calendars reviewed in this article consists of the following sites:

Forex Factory

Forex Factory Calendar

DailyFX

DailyFX Calendar

FXstreet.com

FXstreet.com Calendar

Yahoo! Finance

Yahoo! Finance Calendar

Investing.com

Investing.com Calendar

ZuluTrade

ZuluTrade Calendar

ForexSpace

ForexSpace Calendar

InstaForex

InstaForex Calendar

BabyPips.com

BabyPips.com Calendar

FXOpen

FXOpen Calendar

Interface

Basics

All financial calendars look alike. They consist of a list of events with respective date and time. For each event, there is a forecast value, previous value and the actual value. Additional columns may also be present, such as, for example, impact, which represents the measure of market volatility usually caused by the event. In fact, of all the calendars, only Yahoo! Finance lacks the impact column.

FXOpen has a minor problem in its interface. When actual data comes out less than forecast, it is colored red; when the data is greater than forecast value, it is colored green. It does not matter if the lesser number is better for a given indicator (e.g. unemployment rate). Can be quite misleading if glancing through the data quickly:

FXOpen Actual Problem

Legend

For the sake of compactness and speed of viewing, the websites often use some special icons, symbols and abbreviations. Sometimes, it can be hard to understand the meaning of the codes and symbols used throughout the calendar. That is why, a legend can be quite useful. The following calendars use a legend to help their visitors: Forex Factory, FXstreet.com, Investing.com, ForexSpace and BabyPips.com.

DailyFX, Yahoo! Finance, ZuluTrade, InstaForex and FXOpen do not display any such explanation.

Images/Currency Codes

There are three main ways to display the country/currency designation of a financial calendar event: currency ISO code, country flag, country ISO code. The most popular way is using currency ISO codes:

  • Forex Factory displays only 3-letter currency ISO codes.
  • DailyFX shows only country flag images.
  • FXstreet.com displays a country flag followed by a 3-letter currency ISO code.
  • Yahoo! Finance is the only calendar to display exclusively 2-letter country ISO codes.
  • Investing.com uses the same display method as FXstreet.com — flag + ISO code.
  • ZuluTrade displays only 3 letter currency ISO codes.
  • ForexSpace has both flags and currency ISO codes.
  • InstaForex shows only country flags
  • BabyPips.com displays only 3 letter currency ISO codes.
  • FXOpen displays only 3 letter currency ISO codes.

Details

Apart from providing the basic data related to an event: actual, forecast, previous and (optionally) revised values, some calendars offer more information and details on their releases:

  • Forex Factory offers the following additional details for each event: original source, detailed explanation for traders, release schedule, alternative names, past history, related news and link to the latest release.
  • DailyFX — only basic description and link to dedicated page with more information about the event.
  • FXstreet.com offers basic description, related news, history, market impact chart (see Extra Features), link to dedicated page and link to the latest release.
  • Yahoo! Finance shows only link to dedicated page, which is not very informative.
  • Investing.com — basic description, indicator history, link to the latest release.
  • ZuluTrade — no further details offered.
  • ForexSpace offers detailed explanation and release schedule. Unlike other calendars, reloads the calendar page on event details opening, which can be rather annoying.
  • InstaForex — only basic event description.
  • BabyPips.com displays the following: detailed explanation, release frequency, history chart, market impact chart (see Extra Features, the same as on FXstreet.com). Unfortunately, it all shows up in a popup window with an ad.
  • FXOpen — nothing.

Graphs and Charts

Best Forex calendars display some history charts based on the previous releases of a given macroeconomic indicator. It can be very useful when you conduct some research on fundamentals. Different calendars use different technologies to show these charts and allow different levels of interaction with them:

  • Forex Factory displays a Flash-based chart that also features forecast and revised values for each release. The chart is scalable.
    Forex Factory NFP History Chart
     
  • FXstreet.com offers a simple Flash-based scalable chart for this purpose.
    FXstreet.com NFP History Chart
     
  • Investing.com has a non-scalable chart based on Javascript; it displays forecast and revision values on tooltip.
    Investing.com NFP History Chart
     
  • ForexSpace has a simple non-scalable image-based chart, which is powered by Econoday.
    ForexSpace History Chart
     
  • BabyPips.com shows Flash-based scalable charts for macroeconomic indicators with forecast values (but without revisions).
    BabyPips.com NFP History Chart
     
  • DailyFX, Yahoo! Finance, ZuluTrade, InstaForex and FXOpen do not have such charts in their calendars.

Revisions Explained

Sometimes, when a new macroeconomic report is released, the values from the previous report on the same indicator are revised. Most calendars display these revisions in a form of the new values and changed color. Some calendars go beyond that and add revision explanation, displaying both unrevised and revised values for traders’ convenience. Forex Factory, FXstreet.com and Investing.com do so.

DailyFX, InstaForex, BabyPips.com and FXOpen display revised values only. DailyFX also marks revised values with a different color (red for downward revisions, green for upward revisions).

Yahoo! Finance and ForexSpace do no display any revisions at all.

Filters

Calendar filters offer quick and easy way to sort out unneeded events and let you focus on something you are interested in. There are three main types of filters supported by nearly every calendar:

  1. Currencies/countries
  2. Impact strength
  3. Event type

Here is a more detailed view on what each calendar has to offer in terms of custom event filtering:

Forex Factory supports all three basic filters. There are 9 currencies to filter by: AUD, CAD, CHF, CNY, EUR, GBP, JPY, NZD, USD.

DailyFX does not support filtering events by type, but there is impact and currency filter. The same 9 currencies are in the filter: EUR, USD, JPY, GBP, CHF, AUD, CAD, NZD, CNY.

FXstreet.com — in addition to widely available impact and type filter, they also offer browsing events by keyword. They use country filters instead of currency filters. There are 41 countries and 1 monetary union in total:
Expand the full list of countries

Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, EMU (European Monetary Union), Finland, France, Germany, Greece, Hong Kong SAR, Hungary, Iceland, India, Indonesia, Ireland, Italy, Japan, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Romania, Russian Federation, Singapore, Slovakia, South Africa, South Korea, Spain, Sweden, Switzerland, Turkey, UK, United States.

Yahoo! Finance — the only supported filter is country-based. There are 23 countries and 1 monetary union in total:
Expand the full list of countries

Australia, Austria, Belgium, Canada, Denmark, Eurozone, Finland, France, Greece, Germany, Ireland, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Russia, Spain, Sweden, Switzerland, Turkey, United Kingdom, United States

Investing.com — similarly to FXstreet.com, this calendar allows keyword filtering of the event list. There are 70 countries and 1 monetary union in the country filter:
Expand the full list of countries

Argentina, Australia, Austria, Bahrain, Belgium, Brazil, Bulgaria, Canada, Chile, China, Colombia, Croatia, Czech Republic, Denmark, Egypt, Estonia, Euro Zone, Finland, France, Germany, Greece, Hong Kong, Hungary, Iceland, India, Indonesia, Ireland, Israel, Italy, Japan, Jordan, Kenya, Kuwait, Lebanon, Luxembourg, Malaysia, Mexico, Morocco, Netherlands, New Zealand, Norway, Oman, Pakistan, Palestinian Territory, Peru, Philippines, Poland, Portugal, Qatar, Romania, Russia, Saudi Arabia, Singapore, Slovakia, Slovenia, South Africa, South Korea, Spain, Sri Lanka, Sweden, Switzerland, Taiwan, Thailand, Tunisia, Turkey, Ukraine, United Arab Emirates, United Kingdom, United States, Venezuela, Vietnam

ZuluTrade — similarly to DailyFX, there is no event type filter. You can use impact filter combined with currency filter. The latter supports 9 normal currencies: USD, EUR, GBP, JPY, AUD, CAD, NZD, CHF, CNY; and 1 original “currency” — Global, which is a special filter for events that can hardly be related to one single currency (e.g. World Economic Forum in Davos).

ForexSpace lacks the type filter but offers impact and country filter. Unfortunately, the filter resets itself when time period is updated. ForexSpace offers a list of 210 countries and 1 monetary union to filter the events. Apparently, they just list every existing country and the eurozone. It does not mean that they report all the events related to all these countries:
Expand the full list of countries

Afghanistan, Albania, Algeria, Amercian Samoa, Andorra, Angola, Anguilla, Antarctica, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bermuda, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, Bouvet Island, Brazil, British Virgin Islands, Brunei Darussalam, Bulgaria, Burkina Faso, Burundi, Cambodia, Cameroon, Canada, Cape Verde, Central African Republic, Chad, Chile, China, Colombia, Comoros, Congo, Cook Islands, Costa Rica, Cote d’Ivoire, Croatia, Cuba, Cyprus, Czech Republic, Denmark, Djibouti, Dominica, Dominican Republic, East Timor, Economic and Monetary Union of the European Union, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Estonia, Ethiopia, European Union, Faroe Islands, Fiji, Finland, France, French Guiana, French Polynesia, Gabon, Gambia, Georgia, Germany, Ghana, Gibraltar, Greece, Grenada, Guadeloupe, Guam, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Honduras, Hong Kong, Hungary, Iceland, India, Indonesia, Iran, Iraq, Ireland, Israel, Italy, Jamaica, Japan, Jordan, Kazakhstan, Kenya, Kiribati, Korea (Democratic People’s Republic of), Kuwait, Kyrgyzstan, Laos, Latvia, Lebanon, Lesotho, Liberia, Libya, Liechtenstein, Lithuania, Luxembourg, Macedonia, Madagascar, Malawi, Malaysia, Maldives, Mali, Malta, Marshall Islands, Mauritania, Mauritius, Mexico, Micronesia, Moldova, Monaco, Mongolia, Montenegro, Morocco, Mozambique, Myanmar (Burma), Namibia, Nauru, Nepal, Netherlands, New Zealand, Nicaragua, Niger, Nigeria, Norway, Oman, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Poland, Portugal, Qatar, Romania, Russia, Rwanda, Saint Kitts and Nevis, Saint Lucia, Samoa, San Marino, Sao Tome and Principe, Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Singapore, Slovakia, Slovenia, Solomon Islands, Somalia, South Africa, South Korea, Spain, Sri Lanka, Sudan, Suriname, Swaziland, Sweden, Switzerland, Syria Arab Republic, Taiwan, Tajikistan, Tanzania, Thailand, Togo, Tokelau, Tonga, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Tuvalu, Uganda, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Uzbekistan, Vanuatu, Venezuela, Vietnam, Wallis and Futuna, Yemen, Yugoslavia, Zambia, Zimbabwe

InstaForex — no impact and type filter, but there is a simple “Only important events” checkbox to show only those events that have been marked as important by InstaForex. They support 17 countries and one monetary union. The filter resets on calendar period change.
Expand the full list of countries

Australia, Germany, Japan, Eurozone, United States, United Kingdom, Canada, New Zealand, Switzerland, Italy, Russia, Sweden, France, China, Belgium, Greece, Mexico, Spain.

BabyPips.com — they lack the type filter, but offer impact and the unique trading session filter, The usual set of 9 currencies is present: EUR, USD, JPY, GBP, CHF, AUD, CAD, NZD, CNY.

FXOpen — calendar can be filtered the same ways as with ZuluTrade — by impact and by currencies (9 real currencies and 1 Global “currency”): EUR, USD, JPY, GBP, CHF, AUD, CAD, NZD, CNY, Global.

It is important to note that while news from eurozone member-states (e.g. France) influence euro’s performance, in filters, they are usually listed separately from the eurozone (EMU). The latter provides events related to the currency union as a whole.

Timezone

As all the Forex calendars are date/time based, it is really important to allow traders synchronize or at least clearly see the active timezone for the event release schedule. Different calendars solve this problem differently:

  • Forex Factory can synchronize timezone and remember it using cookies or member profile (registration is required). Their default timezone is US EST.
  • DailyFX defaults to GMT, and the timezone can be modified but it cannot be saved.
  • FXstreet.com default is GMT and you have to sign in to change it. Of course, in order to sign in, you have to register first. This does not look like a very friendly approach to me.
  • Yahoo! Finance default is EST/EDT and cannot be changed at all.
  • Investing.com default is EST/EDT and can be changed but not saved without registration.
  • ZuluTrade detects your system timezone settings (good idea). Can be changed and saved to cookies or user profile.
  • ForexSpace uses GMT/BST timezone by defailt. It cannot be customized, which is a really bad idea.
  • InstaForex default is GMT+2. Can be customized and is automatically saved via cookies.
  • BabyPips.com detects your system timezone settings. Can be customized and saved to cookies only; it is not connected to your forum member profile at BabyPips.com.
  • FXOpen default is GMT. Can be customized and is saved via cookies. They offer no Daylight Saving Time adjustment.

Time Browsing

Although you will see the list of today’s event immediately upon loading any calendar’s webpage, chances are that sometimes you will need to browse either back into the past to see some previously released reports or forward into the future to get yourself prepared for the next releases. All calendars offer some way to browse through time, but they do it quite differently:

  • Forex Factory offers a real calendar to browse and days/weeks/months to select.
    Forex Factory Time Browsing
     
  • DailyFX can show you events for today and lets you browse weeks.
    DailyFX Time Browsing
     
  • FXstreet.com offers calendar browsing and any period can be selected. Unfortunately, the backwards limit is 1 year to the past.
    FXstreet.com Time Browsing
     
  • Yahoo! Finance offers calendar browsing and week/day selection. With some basic understanding you can change the start/end date in the URL’s query string to get calendar for any period of time. I have no idea why they do not add it as some handy interface feature.
    Yahoo! Finance Time Иrowsing
     
  • Investing.com — a calendar for browsing where any period can be selected.
    Investing.com Time Иrowsing
     
  • ZuluTrade also allows calendar browsing and selecting any period, but the number of events shown on the screen is limited, which means that you cannot effectively select a period bigger than one week.
    ZuluTrade Time Иrowsing
     
  • ForexSpace provides calendar for period selection and ability to browse weeks or days.
    ForexSpace Time Browsing
    Special note: ForexSpace has very lousy week switching interface.
     
  • InstaForex offers calendar with weeks and days too. The calendar itself resets to the current month/year after you select some other month. It can be annoying when browsing some dates in the past or in the future.
    InstaForex Time Browsing
     
  • BabyPips.com shows a rather strange calendar and allows selecting periods in weeks or days.
    BabyPips.com Time Browsing
     
  • FXOpen features a calendar and any period can be selected by trader.
    FXOpen Time Browsing

Start of the Week

The absolute majority of calendars use Sunday as their starting day of the week. The only two exceptions are FXOpen and InstaForex; weeks start on Mondays with them. It is worthy to note that Forex Factory allows week start customization — you can set any weekday and save it via cookies or in your user profile if you are registered.

Self-Updating

The following calendars use auto-updating feature to show you event values in real-time without requiring visitors to refresh the webpage:

  • FXstreet.com
  • Investing.com
  • ZuluTrade

Delays

Some calendars react to the news releases faster than others. Other calendars are so slow that they lag behind others significantly. Yahoo! Finance, DailyFX and InstaForex calendars are notable for their delays in event reporting.

Sounds

It might seem strange, but only one calendar out of 10 described here uses sounds to interact with traders. FXstreet.com has a rather unique feature — event notifications with sound that can be turned off. Surprisingly, other calendar websites completely omit this simple add-on.

Loading Speed

This metric has been compiled using WebPagetest website performance test using 6 different geographical locations: US East Coast (Dulles, VA, USA), US West Coast (San Jose, CA, USA), South America (Buenos Aires, Argentina), Europe (London, UK), Asia (Tokyo, Japan) and Oceania (Sydney, Australia). The table below summarizes the calendar website load times for all 10 calendars as accessed from all 6 geo points. The average load time is also given. All values are given in seconds:

Website/Location US East Coast US West Coast South America Europe Asia Oceania Average
Forex Factory 4.22 5.20 10.2 9.68 8.73 12.0 8.34
DailyFX 2.37 2.93 6.98 8.29 5.34 7.88 5.63
FXstreet.com 2.79 3.86 6.46 5.83 6.43 8.46 5.64
Yahoo! Finance 9.39 2.78 5.21 7.40 12.2 11.9 8.15
Investing.com 6.20 14.8 13.3 16.4 11.8 16.6 12.4
ZuluTrade 3.61 5.66 12.0 5.64 7.0 9.06 7.16
ForexSpace 4.24 9.00 8.33 10.5 9.01 12.5 8.93
InstaForex 6.81 6.66 13.4 8.27 8.79 10.1 9.01
BabyPips.com 4.34 6.25 8.21 9.20 7.91 10.2 7.69
FXOpen 1.32 2.59 4.67 2.64 3.46 4.53 3.20

 
As seen from the table, the unrivaled leader in calendar loading speed is FXOpen. It is easily explained with the fact that their calendar loads in a separate page without any ads or other “heavy” page elements. Yahoo! Finance loading speed from the US West Coast can also be noted as quite fast. DailyFX and FXstreet.com follow FXOpen in average load speed. Investing.com is a definite loser, showing the slowest time everywhere except for the East Coast of the USA. You probably also would not want to use InstaForex calendar in South America.

Number of Events

If you are a news trader, you probably want to be able to trade on as many events as you deem important. As a general rule, the more events are present in the calendar the better. You may get rid of the unneeded events using the filters but you cannot add more events if the calendar does not support them. I have extracted the number of events for 4 major currencies (EUR, GBP, JPY, USD) presented by each of the 10 researched calendars for the month of June 2013. Comparing these numbers will give you a basic idea of calendars’ completeness:

  • Forex Factory — 237
  • DailyFX — 464. Future events are listed only for one week ahead.
  • FXstreet.com — 453
  • Yahoo! Finance — 369
  • Investing.com — 423
  • ZuluTrade — 451
  • ForexSpace — 157
  • InstaForex — 180
  • BabyPips.com — 394
  • FXOpen — 486

The leaders are FXOpen, DailyFX, FXstreet.com and ZuluTrade — they all show more than 450 events for the selected month. ForexSpace and InstaForex are definite outsiders with less than 200 events on their calendars.

It is important to note that these values depend greatly on the number of the different Eurozone countries and their related events. The difference also follows out of the detailization level. Some calendars list month-to-month, year-to-year and/or seasonally (un)adjusted values as separate events.

Forecast Accuracy and Similarities

Some calendars demonstrate similarities in their forecasts, suggesting the use of a shared data source. Actually, there is no pair of calendars with exactly the same forecasts on all groups of events among the 10 researched ones. Some calendars share the same forecasts for the US events, some — for the European events, others — for something else, but there are no completely matching forecasts on all events.

The accuracy of the forecasts varies. All calendars make errors when forecasting some macroeconomic indicators and, usually, the sign of the error is the same across all the calendars; the absolute value differs only slightly. I have used ‘US Non-Farm Payrolls’ as reported from August 2012 through July 2013 (12 values in total) to compare the average errors of all calendars studied in this article. The metric has been chosen because of its popularity and influence in currency trading. The averages are calculated using absolute values of the errors:

Website/Month Aug
2012
Sep Oct Nov Dec Jan
2013
Feb Mar Apr May Jun Jul Average
Forex Factory -62 27 0 -48 -57 -5 4 -74 110 -19 -8 -32 37.2
DailyFX -63 34 1 -46 -61 -10 8 -71 102 -25 -12 -30 38.6
FXstreet.com -63 29 -1 -46 -53 -5 3 -76 112 -20 -5 -30 36.9
Yahoo! Finance -63 29 -1 -46 -53 -5 3 -76 112 -20 -5 -30 36.9
Investing.com -63 29 -1 -46 -53 -5 3 -76 112 -20 -5 -30 36.9
ZuluTrade -63 29 -1 -46 -53 -5 3 -76 112 -20 -5 -30 36.9
ForexSpace -63 29 -1 -46 -66 0 18 -65 105 -12 -8 -34 37.3
InstaForex ? 27 0 ? -57 -5 4 -74 110 -19 -8 -32 ?
BabyPips.com -63 34 1 -46 -61 -5 8 -71 102 -20 -12 -30 37.8
FXOpen -63 34 1 -46 -61 -5 8 -71 102 -20 -12 -32 37.9

 
By the way, FXstreet.com, BabyPips.com and FXOpen correct their past “Actual” data according to latest revisions, so what you see in the “Actual” column is not the value that was released on that date, but the latest value for that period known as of now.

The table shows that the best forecast accuracy is achieved by four calendar websites: FXstreet.com, Yahoo! Finance, Investing.com and ZuluTrade. It is also evident that they use the same source for the forecasts related to the US non-farm payrolls reports. ForexSpace has been using the same source until December 2012. The second most accurate source is Forex Factory. The least accurate in terms of non-farm payrolls prediction is DailyFX. InstaForex is missing the NFP events for two of the last 12 months, so its average accuracy cannot be calculated with enough precision for comparison.

Translations

When your native language is not English, it may be hard to navigate quickly through an English interface of a calendar or browse the events, or, especially so, to read their descriptions in English. That is why, some of the top 10 calendars offer translations to other languages.

  • Forex Factory offers no translations at all.
  • DailyFX: French, German, Greek, Arabic, Chinese (Traditional). In most languages, only basic interface and event titles are translated; details and descriptions are not translated.
  • FXstreet.com: Japanese, Russian, Italian, Turkish, Spanish, French, German, Vietnamese, Japanese, Indonesian, Portuguese, Catalan, Chinese (Traditional), Arabic, Hungarian, Korean. All translations are complete and accurate.
  • Yahoo! Finance does not offer translated versions of their calendar. Which is quite surprising, considering the popularity of various Yahoo! services in non-English speaking world. It might be that I just could not find those other language versions.
  • Investing.com: German, French, Spanish, Italian, Russian, Dutch, Polish, Portuguese, Finnish, Swedish, Turkish, Greek, Hebrew, Arabic, Korean, Chinese (Simplified), Japanese. All translations are complete and accurate.
  • ZuluTrade: Russian, Japanese, Chinese (Simplified), German, Spanish, French, Polish, Arabic, Czech, Danish, Greek, Persian, Finnish, Hebrew, Croatian, Hungarian, Korean, Malay, Dutch, Norwegian, Portuguese, Slovenian, Serbian, Swedish, Thai, Vietnamese. Only interface is translated; event titles are not.
  • ForexSpace supports only English language.
  • InstaForex has a Russian translation of interface, event titles and descriptions.
  • BabyPips.com does not have any translations available. It looks like the popular forums prefer to stay away from the international audience.
  • FXOpen features only Russian translation and it is only of the calendar’s interface.

As you can see, FXstreet.com and Investing.com are clear leaders here, offering many popular languages with a very high level of quality. ZuluTrade can also boast an extensive list of translations, but the problem is that it is only interface that gets translated, which cannot be called a huge advantage.

Extra Features

Some calendars offer unique features and analysis tools for traders. Here is the list of them:

  • Forex Factory — not a big feature, but they list the current interest rates of the world’s central banks on the calendar.
    Forex Factory Central Banks
     
  • DailyFX — another minor feature — a quick link to central bank calendar for a year.
  • FXstreet.com — OlsenScale charts to measure market activity following the event. Dedicated country and event pages for more information. Sound alerts for event notifications.
    FXstreet.com Olsen Scale
     
  • Yahoo! Finance — none.
  • Investing.com — a quick link to the yearly holiday calendar.
  • ZuluTrade — important upcoming events get highlighted and have additional display at the top of the list.
    ZuluTrade Upcoming Event
     
  • ForexSpace — forecast explanations with range of forecasts from different analysts.
    ForexSpace Forecast Range
     
  • InstaForex — SMS subscription to notifications about the calendar events.
  • BabyPips.com shows 4 major trading sessions: London, New York, Sydney, Tokyo.
    BabyPips.com Trading Sessions
     
  • FXOpen — there are no ads or any other distracting elements on the page with the calendar.

Exporting and Printing

If you want to work with the calendar away from the original website or just print it out to add your own marks and notes, then you probably want to use a calendar that supports either a print-friendly view or an option to export the current view into some external print-friendly format:

  • Forex Factory offers only a print-friendly view for its calendar.
  • DailyFX supports exporting to PDF, XLS and CSV files.
  • FXstreet.com allows export to CSV, iCalendar and Google Calendar.
  • Yahoo! Finance — none.
  • Investing.com — none.
  • ZuluTrade — none.
  • ForexSpace — none.
  • InstaForex — none.
  • BabyPips.com — only allows forming a print-friendly view.
  • FXOpen — none.

Summary

To conclude the information presented above, I would like to state that while there is no perfect calender (all calendars lack some features present in others), you probably do not need a perfect one. Trading needs vary from trader to trader and you will likely find everything (or nearly everything) you need in one, two or maybe three calendars reviewed here. Here follow some of the conclusions drawn from all the research conducted above.

Forex Factory is the right calendar for you if:

  • You want detailed revision explanations.
  • You need a lot of extra information on releases.
  • You want history charts with actual/forecast/revised values in them.
  • You want to be able to print your calendar view.
  • You do not need a lot of events.
  • You can read English well.

You want to use DailyFX if:

  • You need as many events as possible.
  • You often need to consult central bank calendar.
  • You sometimes need to export calendar views to PDF, XLS or CSV files.
  • You do not care much for the forecast accuracy.
  • You do not mind delays in calendar data updates.

The reasons to use FXstreet.com calendar are:

  • You want detailed revision explanations.
  • You want calendar page to auto-update to see the latest values.
  • You need sound notifications of new events arriving.
  • You want to filter events by keyword.
  • You want to see a lot of further details (including OlsenScale market reaction charts) on each event.
  • You need to be able to export your calendars to CSV, iCalendar or Google Calendar.
  • You want one of the best accuracy levels in forecasts.
  • You need Catalan or Indonesian translations.
  • You do not mind registering to be able to save your timezone settings.
  • You can tolerate annoying ads.

Yahoo! Finance calendar can be good for you if:

  • You want to see events for an arbitrary period of time.
  • Forecast accuracy is of high priority to you.
  • You are based in US West Coast and calendar load speed matters to you.
  • You can work with crippled filtering.
  • You do not care much about the delays in calendar data updates.
  • You feel OK about not seeing any revisions for the reported indicators.
  • You can read English well.

Switch to Investing.com if:

  • You want detailed revision explanations.
  • You want calendar page to auto-update and always show the latest values.
  • You want to filter events by keyword.
  • You want to see events for an arbitrary period of time.
  • You need a handy link to calendar of market holidays in various countries.
  • Forecast accuracy is one of your priorities.
  • You would neither print nor export your calendar view.
  • You do not mind very low page loading speed (unless you access it from the US East Coast, in which case the load speed is just mediocre).
  • You can tolerate a lot of ads on the calendar page.

ZuluTrade might turn out a good calendar for you if:

  • You need automatically updating event list.
  • You want the most convenient timezone control option (auto-detection + customization savable to cookies).
  • You want to be able to quickly focus on important events.
  • Forecast accuracy is of high priority to you.
  • You can live without event type filter.
  • You are OK with a strictly capped maximum number of events displayed even when long time period is selected.
  • You do not need any additional details or charts for the events.
  • You would neither print nor export your calendar view.
  • You need some exotic translation (Danish, Croatian, Persian, Malay, Norwegian, Slovenian, Serbian, Thai) and the fact that it is only interface that gets translated does not bother you.

ForexSpace will suit your needs if:

  • You want forecast ranges instead of simple one value forecasts.
  • You feel OK about not seeing any revisions for the reported indicators.
  • You do not mind not being able to change your timezone settings from the default GMT/BST.
  • You can work without event type filter.
  • You do not care for learning to use their illogical week-switching interface.
  • You can be satisfied with being able to see only few events.
  • You plan to neither print nor export your calendar view.
  • You can read English well.

Go for InstaForex if:

  • You want to be able to subscribe to event notifications via SMS.
  • You do not care much about the delays in calendar data updates.
  • You are OK without type and impact filters.
  • You are not from South America, otherwise you will have to wait for some time for the calendar to load.
  • You can be satisfied with being able to see only few events.
  • You plan to neither print nor export your calendar view.
  • You do not care for your calendar’s forecast accuracy rate.
  • You read either English or Russian.

Bookmark BabyPips.com as your calendar of choice if:

  • You need trading session filter for events.
  • You want a lot of additional information for each event.
  • You want history charts with actual and forecast values in them.
  • You want to be able to print your calendar view.
  • You are OK without event type filter.
  • You do not mind the fact that further event details are loading in a pop-up window with an ad.
  • You can read English well.

Choose FXOpen if:

  • You want to be able to easily select any time period for events display.
  • You want extremely fast-loading calendar from any geographical location.
  • You need to follow as many events as possible.
  • You cannot stand ads in calendars.
  • Poor interface decisions does not bother you.
  • You do not need type filter for events.
  • You plan to neither print nor export your calendar view.
  • You can read English well.

I hope this research will serve you well and will help you choose one or two Forex calendars for everyday use and probably even one more calendar to check from time to time when your regular one fails. It is a great way to augment your fundamental analysis techniques.


If you would like to share more information on how you use Forex calendars or why do you use some particular website, please do so using the commentary form below.

5 Responses to “Comparison of Forex Economic Calendars”

  1. Henry Par

    I use this one http://www.forextrainingworldwide.com/resources/economic-calendar/ ! Very useful.

    Reply

    admin Reply:

    OK, but it is FXstreet.com’s calendar.

    Reply

    Henry Par Reply:

    Oh I see. Didn’t know that :) Good one still!

    Reply

  2. Sergio

    Nice Work! Just what I was looking for, I use FXStreet but needed a faster one so I´m going to use FXOpen also. Thanks dude.

    Reply

    Andriy Moraru Reply:

    You are welcome. FXOpen is really simplistic, but it doesn’t look too neat, so many traders just ignore this calendar.

    Reply

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