An economic calendar lists scheduled data releases. Each entry typically shows three values: Previous (last reading), Expected (consensus forecast) and Actual (the new figure).
Markets usually react to the gap between Actual and Expected.
Learning what each release measures helps you understand why volatility often rises around them.
Key definitions
- Consensus
- The median economist forecast before a release.
- Revision
- A later correction to a previously published figure.
Key takeaways
- Surprises matter more than levels
- Revisions can change the story