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The economic calendar, with the noise already removed

Only the releases that move a session: three-star and two-star events, for the whole week. Plus the thing most calendars get wrong — whether CME and Eurex are actually open that day, closing early, or shut.

Times are converted to your own clock · you can change the zone below

Times in UTC

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How to read it

What is here, and what was left out on purpose

01 · Three stars and two stars only

A normal week carries about eighty entries. Sixty of them are one-star — second-tier surveys and revisions that pass without a tick moving. They are not here. What is left is around twenty things, which is a list you can actually read before the open.

02 · Sessions, not bank holidays

Most calendars print “Bank Holiday” and leave you to guess. Equity index futures trade almost around the clock, so a US holiday is usually an early close, not a closure — CME is fully shut on three weekdays in the whole of 2026. This page says which it is, from the exchange calendars themselves.

03 · Your clock, not ours

Every time on this page is stored in UTC and converted by your own browser, so a trader in Bucharest and one in Chicago each see their own hour without touching a setting. Change the zone at the top if you plan around a different one.

f is the forecast and p the previous reading, both as published. We add no commentary, no expected direction and no view on what any of it means for price — that is your read to make, and the whole point of the instruments we build is that you make it from what the order flow actually does.

The reasoning, not the call

How a number reaches your chart

Every release on this page opens into an explanation, and each one names the chain it belongs to. There are only six chains, and once they are clear you can work out the direction yourself instead of being told it — which is the only version that survives the day the market does the opposite.

Why this page never says “buy” or “sell”. A market does not react to a number, it reacts to the distance between that number and what was already priced. That distance is not knowable in advance, so anybody printing “CPI hot → sell” is guessing in public. The chain, on the other hand, is economics: it holds regardless of what happens on the day, and it is what lets you read your own instrument when the print lands.

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1 · Inflation sets the price of money

Inflation decides how much room a central bank has. Hotter inflation means money stays expensive for longer: borrowing costs more, and profits a company is expected to earn in three years are worth less today once you discount them at a higher rate. Rate expectations move first, then yields and the currency, then index futures. Lower rates, higher ES — that is not a hunch, it is arithmetic on a discount rate. Cooler inflation runs the same chain backwards.

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2 · Jobs feed that chain twice

More people working means more income and more spending, which is good for what companies earn. But strong jobs with rising wages also put a floor under inflation, which keeps money expensive — and that works against the same index futures. Wages usually decide which side wins. Weak enough jobs eventually stop meaning “cheaper money soon” and start meaning “fewer earnings”, and at that point index futures fall alongside yields rather than rallying with them.

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3 · Activity is what companies actually earn

Output, spending and orders say what firms will earn. Stronger activity supports earnings, and at the same time removes the reason to cut. Which side wins depends on what the market currently believes the bigger risk to be: a recession, or inflation that will not go away. That is why the same strong number is read as good news in one quarter and bad news in the next.

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4 · The bank sets the price of money directly

No inference here — the rate is the decision, and it is usually known in advance. What moves is the guidance: how many more moves, and when. A path lower than expected means cheaper money and a lower discount rate, so index futures usually rise while that currency softens, because money held in it now earns less. This is the one release where the second move, during the press conference, often undoes the first.

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5 · Crude has barrels, not discount rates

Energy runs on a shorter, more physical chain. More supply than expected, or less demand, and the barrel has to find a lower price to clear; tighter stocks and it has to find a higher one. Refinery runs and product stocks matter because a barrel that cannot be refined this month is not the same asset as one that can.

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6 · Surveys are opinions that arrive early

Surveys ask people what they are seeing before the hard numbers exist. They move markets because they come first, and they disappoint because they are still opinions. One survey rarely changes a rate path; three in the same direction do, which is why these are read as a run rather than as a print.

And what to do with it on the chart

Knowing the chain tells you what to expect from the order flow, which is the part that decides whether a setup is worth taking. In the first seconds of a three-star release the book thins, spreads widen and a stop sits a long way from where it was placed — so a level that held all morning can be traded through on volume that means nothing, and then reclaimed. Whether it was absorbed or simply swept is the question worth answering, and it is a question about the tape rather than about the number.

Two practical consequences. First, thresholds tuned on a quiet session read differently in a release minute: a big-trade size that is remarkable at 11:00 is ordinary at 14:30. Second, a level built inside the spike deserves less trust than one built before it — which is exactly why the level map is computed from the whole session rather than from the last five minutes.

This is one thing the Market Agent watches all day

The calendar tells you when. DC Market Agent puts it in context on Telegram for NQ, ES and CL: the day’s releases and no-trade windows in its plan before the European and US sessions, a daily macro brief, breaking-news alerts as headlines land, a review after the close, and an answer whenever you ask.