An economic calendar lists scheduled data releases and central bank decisions. Examples are jobs reports, inflation figures and interest rate announcements. Traders use it to know when prices may move sharply.
Most calendar sites show times in New York, London or UTC. In Pakistan you need to convert each time to Pakistan Standard Time (PKT). The tool below shows the main trading sessions in your own time zone and accounts for daylight saving.
Fill in the empty fields to see the result.
| Session | Opens | Closes | Now |
|---|---|---|---|
| Sydney | 01:00 | 10:00 | — |
| Tokyo | 05:00 | 14:00 | — |
| London | 13:00 | 22:00 | — |
| New York | 18:00 | 03:00 (+1) | — |
Usual session hours in each city's local time: Sydney 07–16, Tokyo 09–18, London 08–17, New York 08–17, Monday to Friday. Daylight-saving changes are applied for the chosen date; (+1) means the next day. Broker trading hours and holidays can differ.
Why the PKT time of a release changes
Pakistan does not move its clocks for daylight saving. The United States and Europe do, and they change on different dates.
So a US release at the same New York time arrives in Pakistan an hour earlier in the American summer than in the American winter. For a few weeks each spring and autumn, the gap between Pakistan and the US differs from the gap between Pakistan and Europe. The same shift happens with European releases.
The safe habit: take the time from the official source in its local zone, then convert it to PKT for that specific date. Do not copy a PKT time from last month. For session and market hours, see Trading hours (PKT).
Main scheduled events and where they fall in PKT
| Event | Published by | What it shows | Usual position in PKT |
|---|---|---|---|
| Employment Situation (Non-Farm Payrolls) | US Bureau of Labor Statistics (BLS) | US jobs, unemployment, wages | Late afternoon or early evening, usually on a Friday early in the month |
| US CPI | BLS | US consumer inflation | Late afternoon or early evening |
| FOMC rate decision | US Federal Reserve | US policy rate and statement | Late night; the press conference follows shortly after |
| ECB monetary policy decision | European Central Bank | Euro area rates | Evening; the press conference follows |
| SBP Monetary Policy Committee (MPC) | State Bank of Pakistan | Pakistan policy rate | Announced in Pakistan time on the date the SBP publishes |
| CPI and SPI | Pakistan Bureau of Statistics (PBS) | Pakistan inflation: CPI monthly, SPI weekly | Pakistan time, on the PBS release schedule |
US and European releases mainly move USD and EUR pairs, gold and US indices such as US100 and US30. SBP and PBS releases mainly affect the rupee, local rates and the PSX. They have little effect on global pairs.
SBP MPC decisions
The State Bank of Pakistan publishes its MPC meeting schedule in advance and explains each decision in a Monetary Policy Statement. The latest decision on record for this page: SBP policy rate raised by 50 bps to 12% with effect from 27.10.2026 (MPC).
Always confirm the current rate on the SBP website before relying on it. For background, see SBP policy rate, KIBOR and SBP rates and economy.
PBS inflation data
The Pakistan Bureau of Statistics publishes the Consumer Price Index (CPI) monthly and the Sensitive Price Indicator (SPI) weekly. These figures feed into SBP decisions. They are explained on Inflation (CPI and SPI).
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How to read a calendar entry
A typical forex news calendar row has these fields:
- Actual: the figure released.
- Forecast (consensus): what analysts expected on average.
- Previous: the last figure, sometimes revised.
- Impact: a low, medium or high label set by the calendar provider, not by the official source.
Price often reacts to the gap between actual and forecast, not to the figure alone. A revision to the previous figure can matter as much as the new number. Central bank decisions are also judged by the wording of the statement and the press conference, not only by the rate.
Methods for using this data are covered in Fundamental analysis.
Trading conditions around releases
Around high-impact releases, conditions in leveraged markets change quickly:
- Spreads widen. The spread is the difference between the buy and sell price. It can widen sharply in the minutes around a release.
- Slippage. Orders may fill at a worse price than requested, including stop-loss orders.
- Gaps. Price can jump past your level without trading in between.
- Margin pressure. A fast move can reduce free margin and trigger a margin call or stop-out, where positions are closed automatically.
Leveraged CFD and forex trading can lose money fast, and news periods make this more likely. Many traders reduce position size, widen stops or stay out around major releases.
Use the Calculators to see what a move would mean for your position. Read Risk management before trading news.
Where to check official schedules
Third-party calendars are convenient, but they can contain errors or stale times. Confirm each important date on the original publisher:
- BLS: release schedule on the official BLS website.
- Federal Reserve: FOMC meeting calendar on the Federal Reserve website.
- ECB: monetary policy meeting calendar on the ECB website.
- State Bank of Pakistan: MPC schedule and statements on sbp.org.pk.
- PBS: release calendar and price statistics on pbs.gov.pk.
Write down the date you checked. Official bodies sometimes reschedule releases, for example after holidays or data delays. For rupee rates published by the SBP, see SBP exchange rates. For days when Pakistani banks are closed, see Bank holidays.
Legal context in Pakistan
Following a calendar is legal. Trading with overseas platforms is a separate question. Per the SECP, offshore forex/CFD platforms operate without regulatory approval in Pakistan, and per the SECP, offshore platforms have no Pakistani licence or oversight and offer no legal protection or recourse.
Read Law and regulators before opening any account.
Frequent questions
What is the best way to see a forex calendar in PKT?
Use a calendar that lets you set your time zone, then confirm high-impact events on the official publisher's site. The session tool on this page helps you see how release times sit against market sessions.
Why did a US release come an hour earlier in Pakistan this month?
The US moved its clocks for daylight saving and Pakistan did not. The release kept its New York time, so its PKT time changed.
Does the SBP decision move EUR/USD or gold?
Usually very little. It mainly affects the rupee, local interest rates and Pakistani markets.
Are calendar forecasts reliable?
They are an average of analyst expectations, not a prediction you can rely on. Actual figures often differ from them.
Is it safer to trade during news?
No. Spreads, slippage and gaps usually increase, so losses can be larger and faster than usual.
Where can I learn the terms used in calendars?
See the Trading glossary and Trading basics.