Forex Forecast: Upcoming Major Data Releases in the 2nd Week of February 2024

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.

Tuesday (13/02/2024)

4:30 AM: Australian NAB Business Confidence

Gain insights into the business sentiment in Australia, offering valuable indications of economic health and potential currency movements.

11:00 AM: UK Unemployment Rate

Assess the state of the UK labor market, a critical factor influencing the British pound and related currency pairs.

5:30 PM: US Core Inflation Rate YoY

Keep an eye on the US core inflation rate year-on-year, providing insights into underlying price trends and potential impacts on the US dollar.

5:30 PM: US Inflation Rate YoY

Monitor the overall US inflation rate year-on-year, a key indicator affecting market sentiments and currency valuations.

Wednesday (14/02/2024)

11:00 AM: UK Inflation Rate YoY

Observe the year-on-year inflation rate in the UK, influencing perceptions of economic stability and impacting the British pound.

Thursday (15/02/2024)

3:50 AM: Japanese GDP Growth Rate QoQ Prel

Assess the preliminary quarter-on-quarter GDP growth rate in Japan, offering insights into the country’s economic performance and potential effects on the Japanese yen.

11:00 AM: UK GDP Growth Rate YoY Prel

Examine the preliminary year-on-year GDP growth rate in the UK, providing valuable indications of economic health and affecting the British pound.

11:00 AM: UK GDP MoM

Monitor the month-on-month GDP growth rate in the UK, offering additional perspectives on economic activity and influencing currency movements.

5:30 PM: US Retail Sales MoM

Keep track of month-on-month retail sales in the US, a crucial indicator of consumer spending trends and potential impacts on the US dollar.

Friday (16/02/2024)

11:00 AM: UK Retail Sales MoM

Assess month-on-month retail sales in the UK, providing insights into consumer behavior and influencing the British pound.

5:30 PM: US PPI MoM

Monitor month-on-month producer price changes in the US, offering insights into inflationary pressures and potential currency impacts.

7:00 PM: US Michigan Consumer Sentiment

Gauge consumer sentiment in the US, a vital indicator of economic confidence and potential influences on the US dollar.


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.

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