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.
Monday (19/02/2024)
3:50 AM: Japanese Machinery Orders YoY
Gain insights into Japan’s industrial activity with the year-on-year machinery orders data, influencing perceptions of economic growth and potentially impacting the Japanese yen.
Tuesday (20/02/2024)
4:30 AM: Australian RBA Meeting Minutes
Delve into the Reserve Bank of Australia’s meeting minutes for insights into monetary policy discussions, offering clues about future interest rate decisions and impacting the Australian Dollar.
5:30 PM: Canadian Inflation Rate YoY
Monitor the year-on-year inflation rate in Canada, providing indications of price trends and potential currency movements.
5:30 PM: Canadian Core Inflation Rate YoY
Assess the year-on-year core inflation rate in Canada, which excludes volatile items, offering insights into underlying inflationary pressures and currency impacts.
Wednesday (21/02/2024)
3:50 AM: Japanese Balance of Trade
Evaluate Japan’s trade balance, offering insights into the country’s export and import levels and potentially impacting the Japanese yen.
11:00 PM: US FOMC Minutes
Examine the minutes from the Federal Open Market Committee (FOMC) meeting for insights into US monetary policy discussions, influencing market sentiments and currency valuations.
Thursday (22/02/2024)
12:30 PM: Germany HCOB Manufacturing PMI Flash
Monitor the flash release of Germany’s manufacturing Purchasing Managers’ Index (PMI) from HCOB, offering insights into the country’s manufacturing sector and influencing the euro.
2:00 PM: Euro Area Inflation Rate YoY Final
Assess the final year-on-year inflation rate in the Euro Area, providing comprehensive insights into price trends and potential euro movements.
5:30 PM: US Initial Jobless Claims
Keep track of initial jobless claims in the US, offering insights into the labor market’s health and potential impacts on the US dollar.
Friday (23/02/2024)
1:00 PM: Germany Business Climate
Evaluate Germany’s business climate index, offering insights into economic sentiment and potential influences on the euro.
3:00 PM: UK CBI Distributive Trades
Monitor the Confederation of British Industry’s Distributive Trades survey, offering insights into retail sector trends and potential impacts on the British pound.
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.
