In the ever-changing landscape of forex trading, where the values of currencies are in constant flux, a multitude of factors steer the course of the market. Among these pivotal elements, major data releases stand out as key events that wield substantial influence over market sentiments and significantly shape trading decisions. For traders striving to maintain a competitive edge, a vigilant focus on this forex forecast is not just advisable; it is paramount.
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 (13/05/2024)
05:30 AM: Australian NAB Business Confidence
Assessment of business sentiment in Australia, providing insights into economic conditions and potential impacts on the Australian dollar.
05:00 PM: US Fed Jefferson Speech
Speech by a Federal Reserve official, potentially offering insights into monetary policy discussions and impacts on the US dollar.
05:00 PM: US Fed Mester Speech
Speech by another Federal Reserve official, providing further insights into monetary policy and potential effects on the US dollar.
Tuesday 14/05/2024
10:00 AM: UK Unemployment Rate
Evaluation of the unemployment rate in the UK, offering insights into labor market conditions and potential impacts on the British pound.
01:00 PM: Germany ZEW Economic Sentiment Index
Release of the ZEW Economic Sentiment Index for Germany, providing insights into economic outlook and potential influences on the euro.
04:30 PM: US PPI MoM
Monitoring of month-on-month changes in the Producer Price Index (PPI) in the US, offering insights into inflationary pressures and potential impacts on the US dollar.
06:00 PM: US Fed Chair Powell Speech
Speech by the Federal Reserve Chair, Jerome Powell, potentially impacting market sentiments and the US dollar.
Wednesday (15/05/2024)
01:00 PM: Euro Area GDP Growth Rate YoY 2nd Est
Second estimate of the year-on-year GDP growth rate in the Euro Area, providing updated insights into economic performance and potential impacts on the euro.
01:00 PM: Euro Area Industrial Production MoM
Assessment of month-on-month changes in industrial production in the Euro Area, offering insights into manufacturing sector activity and potential influences on the euro.
04:30 PM: US Core Inflation Rate YoY
Year-on-year assessment of core inflation in the US, providing insights into underlying inflationary trends and potential effects on the US dollar.
04:30 PM: US Inflation Rate YoY
Year-on-year assessment of overall inflation in the US, offering insights into inflationary pressures and potential impacts on the US dollar.
04:30 PM: US Retail Sales MoM
Monitoring of month-on-month changes in retail sales in the US, providing insights into consumer spending trends and potential impacts on the US dollar.
Thursday (16/05/2024)
03:50 AM: Japanese GDP Growth Rate QoQ Prel
Preliminary assessment of the quarter-on-quarter GDP growth rate in Japan, offering insights into economic performance and potential impacts on the Japanese yen.
04:30 PM: US Building Permits Prel
Preliminary assessment of building permits in the US, providing insights into construction activity and potential influences on the US dollar.
05:15 PM: US Industrial Production MoM
Assessment of month-on-month changes in industrial production in the US, offering insights into manufacturing sector activity and potential impacts on the US dollar.
Friday (17/05/2024)
06:00 AM: Chinese Industrial Production YoY
Year-on-year assessment of industrial production in China, providing insights into economic activity and potential influences on the Chinese yuan.
06:00 AM: Chinese Retail Sales YoY
Year-on-year assessment of retail sales in China, offering insights into consumer spending trends and potential impacts on the Chinese yuan.
01:00 PM: Euro Area Inflation Rate YoY Final
Final assessment of the year-on-year inflation rate in the Euro Area, providing updated insights into inflationary pressures and potential impacts on the euro.
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.
