Discrepancy between BabyPips' and ForexFactory's Economic Calendars?

[PeachfuryTrading]

Good day everyone! I have no idea which thread should I put this question in, and since I am a beginner, I will just humbly put it here in Beginner Questions:

So today, where I live, it is the 13th of September 2022. I am demo trading and am currently looking at the GBPUSD chart. I have had the habit of looking at ForexFactory’s economic calendar for possible news for today and this is what I saw on the Pound:

Since I am a beginner, all I saw and thought this morning was “Oh, so there are only low impact news (yellow-colored icon for forex factory).”

And then came 14:00, or 2:00 PM. And then this market reaction happened:

So I saw beneath that tradingview news icon to be in red.

So I cross checked another economic calendar, and that is by yours truly, BabyPips Economic Calendar.

Lo and behold:

There were two medium and two high impact events indicated.

I have always used ForexFactory and cross check with BabyPips Economic calendar, and this is so far, within almost 8 months of studying forex, is the first time wherein the impact valuation of Forex Factory and BabyPips are different.

I just want to ask, why were they different?

Now I am more confused so to as which one to take into higher consideration in terms of fundamental analysis.

Even though I do not intend to trade the news now or even in the near future, having these two different economic calendar impact valuation (low impact for ForexFactory vis-a-vis high impact for BabyPips Economic Calendar) seems unnerving to me.

I would really appreciate any inputs on this.

Thank you!

[tommor]

Unemployment rate should always be classed and regarded as High Impact - whether it has a high impact on the currency at that time is another question, it won’t always.

It would be hard to differentiate between the impact of the unemployment rate and that of the claimant count, they’re simultaneously updated and closely related. So their impact class must probably be the same.

Calendars do vary.

[PeachfuryTrading]

I agree. I just do not know why forexfactory didn’t even put UK’s unemployment rate as “medium” impact. The difference of low (forex factory) and high (BabyPips and TradingView) is just too much, enough to leave me baffled as to which calendar now should I follow/prioritize.

[tommor]

Its disappointing their classification could have had serious consequences for a trader who uses the filter tool to hide medium and low impact stuff. I guess a calendar that classes more events as High is safest.

[PeachfuryTrading]

I kinda agree, I don’t want to sound biased but this just made me consider putting priority more on what BabyPips Economic Calendar valuation is. Not really trying to put down ForexFactory, I’d still cross check it as it is. But this discrepancy has really kinda threw me off.

Thanks tommor for sharing your insights with me!

[samewise]

Where is the calendar data coming from? That will maybe answer why the impacts are different.

[Nefetox]

The dates of key news releases or events that could have an impact on the movement of currency exchange rates and the overall financial market are listed on an economic calendar. The volatility of currencies and financial markets are frequently significantly impacted by these events.

Keeping this in mind, you can obviously see that Babypips’ has more number of dates marked as highlights because of the importance of release of some important data than what Forex Factory has been showing.

[ponponwei]

What did you end up doing @PeachfuryTrading? Are you going to just use one or still keep using both? I still check both just in case.