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, paying close attention to this forex forecast is key.
As we approach the coming week, forex traders must be aware of the upcoming forex forecast that could impact currency pairs. Here’s a breakdown of key events based on the UTC+4 time zone, sourced from Trading Economics.
Tuesday (12/03/2024)
4:30 AM: Australian NAB Business Confidence
Insights into business sentiment in Australia, providing indications of economic health and potential movements in the Australian dollar.
11:00 AM: UK Unemployment Rate
Evaluation of the UK’s unemployment rate, a crucial indicator of labor market conditions affecting the British pound.
4:30 PM: US Core Inflation Rate 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.
4:30 PM: US Inflation Rate YoY
Assessment of the year-on-year inflation rate in the US, influencing market sentiments and currency valuations.
Wednesday (13/03/2024)
11:00 AM: UK GDP MoM
Analysis of the UK’s month-on-month GDP growth rate, providing insights into economic performance and potential influences on the British pound.
2:00 PM: Euro Area Industrial Production MoM
Monitoring of month-on-month industrial production data in the Euro Area, offering insights into manufacturing activity and potential euro movements.
Thursday (14/03/2024)
4:30 PM: US PPI MoM
Evaluation of month-on-month changes in the US Producer Price Index (PPI), providing insights into inflationary pressures and potential currency impacts.
4:30 PM: US Retail Sales MoM
Analysis of month-on-month changes in US retail sales, offering insights into consumer spending trends and potential influences on the US dollar.
4:30 PM: US Core PPI MoM
Monitoring of month-on-month changes in the US core Producer Price Index (PPI), providing insights into underlying inflation trends and potential currency movements.
Friday (15/03/2024)
4:30 PM: US NY Empire State Manufacturing Index
Evaluation of the New York Empire State Manufacturing Index, offering insights into manufacturing sector activity and potential influences on the US dollar.
5:15 PM: US Industrial Production MoM
Analysis of month-on-month changes in US industrial production, providing insights into overall economic activity and potential currency impacts.
6:00 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.
