Understanding Impact Ratings

Most economic calendars rate scheduled events by expected impact — commonly labeled low, medium, or high — as a shorthand for how much volatility a release has historically tended to produce.

These ratings are typically based on a combination of the event's history and its perceived importance to monetary policy or broad economic conditions, rather than a guarantee of what will happen at the next release.

• Low impact: releases that rarely move markets meaningfully, such as minor regional surveys or secondary data points.
• Medium impact: data that can move markets, particularly if it diverges notably from forecasts, but usually doesn't cause the sharpest reactions.
• High impact: major releases like central bank rate decisions, inflation data, or employment reports, which can produce rapid, sizable price swings.