Every day countries publish economic reports, meetings of Central Banks are held, as well as governors give speeches. These events usually occur at a scheduled time. To keep abreast of the upcoming events traders use an economic calendar where the time of their release and the degree of importance are displayed.
An important economic event can significantly change the market price of the asset in a matter of minutes. Traders respond to news reports in different ways. Some traders expect such news and recommend not to miss the opportunity to benefit, while others stop trading before the releases and wait for the market to calm down.