When it comes to forex trading, having a thorough understanding of the market is crucial. As with any major financial market, reports are released on a regular basis detailing what's happening in the current economic climate. Investors who pay attention to reports regarding leading economic indicators often gain an advantage over those who fail to pay attention to the details.

One of the best ways forex traders stay on top of market happenings is by referring to the financial calendar. A great help to traders, it provides detailed statistical information on a number of leading economic indicators worldwide. Factory orders, unemployment rates, retail sales, crude oil and business inventory reports and more can be studied with financial calendars.

Any one of these indicators can have a tremendous influence on worldwide financial markets, so the smart trader is one who realizes a financial calendar can work to their advantage. What makes the information contained in these calendars important is not only the actual statistics, but how those numbers will influence anticipation amongst investors worldwide.

By allowing traders to reach various conclusions, the financial calendar is a great tool to use when forecasting future trends and making sure one's decisions are wise.