Checking the economic calendar daily for key events is essential for staying informed about market-moving news that can impact currency prices. Events such as interest rate decisions, inflation reports, employment data, and GDP releases can cause significant volatility in Forex markets. By reviewing the calendar each day, traders can anticipate potential market movements, adjust their strategies, and avoid unnecessary risks during high-impact announcements. It also helps in planning trades around periods of expected stability or volatility, improving decision-making and overall risk management.