In the dynamic world of forex trading, where currencies constantly shift in value, various factors come into play. One crucial element is major data releases, which are significant events that heavily influence market feelings and impact trading decisions. For traders aiming to stay ahead, pay close attention to this forex forecast to make more informed trading decisions.
As we approach the coming week, forex traders must be aware of the upcoming major data releases that could impact currency pairs. Here’s a breakdown of key events based on the UTC+4 time zone, sourced from Trading Economics.
Monday (08/04/2024)
10:00 AM: Deutsch Balance of Trade
Evaluation of Germany’s trade balance data, providing insights into export and import levels and potential influences on the euro.
Tuesday (09/04/2024)
04:30 AM: Australian Westpac Consumer Confidence MoM
Analysis of month-on-month changes in Australian consumer confidence, offering insights into consumer sentiment and potential influences on the Australian dollar.
05:30 AM: Australian NAB Business Confidence
Insights into business sentiment in Australia, providing indications of economic health and potential movements in the Australian dollar.
09:00 AM: Japanese Consumer Confidence
Assessment of consumer confidence in Japan, offering insights into economic sentiment and potential impacts on the Japanese yen.
Wednesday (10/04/2024)
04:30 PM: US Core Inflation YoY
Monitoring of the year-on-year core inflation rate in the US, offering insights into underlying price trends and potential impacts on the US dollar.
04:30 PM: US Inflation Rate YoY
Analysis of the year-on-year inflation rate in the US, influencing market sentiments and currency valuations.
05:45 PM: Canadian BoC Interest Rate Decision
Assessment of the Bank of Canada’s interest rate decision, potentially impacting the Canadian dollar and related currency pairs.
05:45 PM: Canadian BoC Monetary Policy Report
Insights from the Bank of Canada’s Monetary Policy Report, offer guidance on monetary policy decisions and potential influences on the Canadian dollar.
10:00 PM: US FOMC Minutes
Analysis of the Federal Open Market Committee’s meeting minutes, providing insights into future monetary policy directions and potential currency movements.
Thursday (11/04/2024)
05:30 AM: Chinese Inflation Rate YoY
Assessment of the year-on-year inflation rate in China, providing insights into price trends and potential influences on the Chinese yuan.
04:15 PM: Euro Area Deposit Facility Rate
Evaluation of the Euro Area’s deposit facility rate, offering insights into monetary policy decisions and potential impacts on the euro.
04:15 PM: Euro Area ECB Interest Rate Decision
Monitoring of the European Central Bank’s interest rate decision, potentially influencing the euro and related currency pairs.
04:30 PM: US PPI MoM
Analysis of month-on-month changes in the US Producer Price Index (PPI), providing insights into inflationary pressures and potential currency impacts.
04:45 PM: Euro Area ECB Press Conference
Pay attention to the ECB’s press conference for further insights into monetary policy announcements and their impacts on the euro.
Friday (12/04/2024)
07:00 AM: Chinese Balance of Trade
Monitor China’s trade balance data, offering insights into export and import levels and potential influences on the Chinese yuan.
10:00 AM: UK GDP MoM
Evaluation of month-on-month changes in UK GDP, providing insights into economic growth trends and potential impacts on the British pound.
06:00 PM: US Michigan Consumer Sentiment Prel
Assessment of preliminary US consumer sentiment, offering insights into economic confidence and potential influences on the US dollar.
Disclaimer
Forex trading involves risks, and traders are strongly advised to conduct thorough and independent research before making any investment decisions. Market conditions can change rapidly, and it’s crucial to stay informed and adapt to the evolving landscape.
As the upcoming week unfolds, these major data releases have the potential to shape market trends and create trading opportunities. Stay vigilant, stay informed, and may your trading endeavors be met with success.
