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 (20/05/2024)
01:00 PM: UK BoE Broadbent Speech
Speech by Ben Broadbent, Deputy Governor of the Bank of England, potentially offering insights into monetary policy and economic outlook, which can impact the British pound.
06:30 PM: US Fed Jefferson Speech
Speech by a Federal Reserve official, offering insights into monetary policy discussions and potential impacts on the US dollar.
Tuesday (21/05/2024)
04:30 AM: Australia Westpac Consumer Confidence Change
Assessment of changes in consumer confidence in Australia, providing insights into consumer sentiment and potential impacts on the Australian dollar.
05:30 AM: Australia RBA Meeting Minutes
Release of the minutes from the Reserve Bank of Australia’s meeting, offering detailed insights into the deliberations on monetary policy and potential impacts on the Australian dollar.
04:30 PM: Canadian Inflation Rate YoY
Year-on-year assessment of the inflation rate in Canada, providing insights into inflationary pressures and potential impacts on the Canadian dollar.
Wednesday (22/05/2024)
03:50 AM: Japanese Balance of Trade
Assessment of Japan’s balance of trade, providing insights into trade dynamics and potential impacts on the Japanese yen.
10:00 AM: UK Inflation Rate YoY
Year-on-year assessment of the inflation rate in the UK, providing insights into inflationary pressures and potential impacts on the British pound.
10:00 PM: US FOMC Minutes
Release of the minutes from the Federal Open Market Committee’s meeting, offering detailed insights into monetary policy deliberations and potential impacts on the US dollar.
Thursday (23/05/2024)
11:30 AM: Germany HCOB Manufacturing PMI Flash
Flash estimate of the manufacturing PMI for Germany, providing early insights into manufacturing sector activity and potential impacts on the euro.
12:00 PM: Euro Area HCOB Manufacturing PMI Flash
Flash estimate of the manufacturing PMI for the Euro Area, providing early insights into manufacturing sector activity and potential impacts on the euro.
04:30 PM: US Initial Jobless Claims
Weekly assessment of initial jobless claims in the US, providing insights into labor market conditions and potential impacts on the US dollar.
Friday (24/05/2024)
03:30 AM: Japanese Inflation Rate YoY
Year-on-year assessment of the inflation rate in Japan, providing insights into inflationary pressures and potential impacts on the Japanese yen.
10:00 AM: UK Retail Sales MoM
Month-on-month assessment of retail sales in the UK, providing insights into consumer spending trends and potential impacts on the British pound.
04:30 PM: US Durable Goods Orders MoM
Month-on-month assessment of durable goods orders in the US, providing insights into manufacturing sector activity and potential impacts 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.
