Surf to the following website: https://www.forexfactory.com/calendar.php This is an economic calendar. An economic calendar presents the schedule for...

Surf to the following website: https://www.forexfactory.com/calendar.php

This is an economic calendar. An economic calendar presents the schedule for economic indicators. These are news and updates on Prices and Inflation, GDP, Housing Market, Important Speeches and more.

In the table, from left to right, you observe the following: Date and time of day the news is released, the relevant currency's ISO codes, the importance ('Impact') of the information to currency trading, title of news, detail (folder icon that you may want to click on to observe more detailed information) and the numeric values for Actual, Forecast and Previous.

On the right upper corner click on 'Filter'. Under 'Currencies' choose only USD. Under 'Impact' choose only the strongest impact (red folder icon).

a. Give examples for economic indicators that were published in the last few weeks. (notice at the upper left corner of the screen you can go back and forth to different weeks by clicking the arrow icons)

b. Define the term 'Market Efficiency'. What are the implications of an efficient financial market?

c. Why do you think traders of foreign exchange care about the exact date and time economic news is published and their level of impact? Why do they care about the forecast value? Relate your answer to the term 'Market Efficiency'.