Forecasts in Calender

Hi,

I wonder if anybody knows how the economic forecasts in the calender feature are calculated?

The reason I ask is is because currently I do investigate the effects of macro indicators on the EURUSD. Therefore I calculate the surprise using the forecasts from the calender. With this surprise I can use a linear regression to calculate the average impact. I don't know by now if it will give me some crucial information for my trading, but we'll see. If not, I still can release a paper anout it or use the figures for my the final exam of my studies.

So I hope you guys can give me some hints on the forecasting process of forexfactory.com. Anything might be helpful.

Thanks in advance for the help.
FaMan

I think they get the forecasts from bloomberg and they in turn get it from their economists and/or surveys of economists. If you read through some of the Bloomberg news articles it will say something like

"The Reserve Bank of New Zealand will leave the official cash rate at a record-low 2.5 percent, according to six of 11 economists surveyed by Bloomberg."

Last time I heard about getting a Bloomberg terminal they were running about $1800 a month. There are some other calendars you can check out but they usually dont deviate too much from FF and maybe take an average of the two if they are drastically different.

Not sure if this helps much or not..