uBinary are a leading binary options trading broker, providing secure trading for investors. They aim to cater for beginners through to experienced traders. One of the firm’s core principals is to develop new tools that assist their customers. With this in mind, uBinary recently overhauled their website and as part of the redesign, included some new features, one of which is the extremely useful ‘Next Economic Event‘ calendar.
The Next Economic Event calendar is a new window, available to all users, directly from the uBinary home page. It is automatically updated with the next round of key economic figures due for release. It notes the exact time the announcement will be made to the markets, with a countdown. This ensures traders can be absolutely prepared, and trade accordingly. The list of events due will scroll through automatically, or alternatively clients can move through the list at their own pace.
The window gives a quick reference to visitors – but there is also a link in the event area that will take traders to a screen with more detail of each announcement. This includes what level of impact the event may have, and after the announcement, the actual figures are quoted too, including a percentage change value.
What sort of Economic Events are listed?
Almost every significant economic event is highlighted. This includes;
- Italian, German and Eurozone information. This will include general economic updates for those nations and regions, plus manufacturing and production figures. European interest rate updates are also listed via the ECB (European Central Bank) along with other financial indicators. These can all have a big effect on forex with any currencies paired with the EUR.
- All relevant UK economy details. So monthly RPI (Retail Price Index), CPI (Consumer Price Inflation) and HPI (House Price Index), Bank of England updates, unemployment and benefit statistics and the like. These will all have a direct bearing on the FTSE and GBP prices.
- US Economy data. This includes interest rate information, manufacturing and production numbers and job news from the major cities. While these updates have a direct bearing on USD prices and US indices, the more significant updates might move asset prices around the globe.
- Global currency updates. These include the major updates from the Australian and Japanese economies, among a host of others.
- Commodity Updates. These might include OPEC updates and similar.
These types of updates are crucial for binary options trading. Particularly the timing of the announcements. Without knowing about key updates to the market, traders may be left wondering why a price suddenly shifted significantly at a specific moment. Likewise, there may be periods of flat activity with certain assets as the markets awaits an update. That in itself may be enough to create some profitable ‘boundary’ binary options for shrewd traders.
At present the ‘economic event’ feature is unique to uBinary. It is very likely that other brokers will follow suit and provide such a facility for their own customers. But credit must go to uBinary for once again introducing a very useful – but very simple – additional tool to help traders make a profit.
Related articles;
uBinary Review