Definition
An economic calendar organizes scheduled data releases, central-bank decisions, auctions, and other events that may change market information and execution conditions.
In market context
A useful calendar identifies the publishing authority, release time, time zone, reporting period, prior value, consensus, and revision policy. It cannot predict direction because prices respond to expectations, report details, positioning, and later interpretation rather than the headline alone. Traders can use it to map event exposure, review liquidity, and decide whether to reduce, hedge, or accept risk before new information arrives.
Risk context
Spreads can widen and orders can slip around scheduled releases even when the published figure matches the consensus forecast.
Source
Use the primary source for fuller regulatory or market context.