Forex Forecast: Upcoming Major Data Releases in the 4th Week of April 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 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 (22/04/2024)

04:30 PM: Canadian New Housing Price Index YoY

Analysis of year-on-year changes in Canada’s new housing price index, providing insights into the housing market’s health and potential impacts on the Canadian dollar.

04:30 PM: US Chicago Fed National Activity Index

Monitoring of the Chicago Fed National Activity Index in the US, offering insights into economic activity levels and potential influences on the US dollar.

06:00 PM: Euro Area Confidence Flash

Assessment of flash confidence indicators in the Euro Area, providing insights into economic sentiment and potential impacts on the euro.

07:30 PM: Euro Area ECB President Lagarde’s Speech

Pay attention to Christine Lagarde’s speech, President of the European Central Bank (ECB), for insights into monetary policy discussions and potential influences on the euro.

Tuesday (23/04/2024)

11:30 AM: Germany HCOB Manufacturing PMI Flash

Evaluation of the flash Manufacturing Purchasing Managers’ Index (PMI) in Germany, offering insights into manufacturing sector activity and potential impacts on the euro.

12:00 PM: Euro Area HCOB Manufacturing PMI Flash

Monitoring of the flash Manufacturing Purchasing Managers’ Index (PMI) in the Euro Area, providing insights into economic activity levels and potential influences on the euro.

05:45 PM: US S&P Global Manufacturing PMI Flash

Analysis of the flash Manufacturing Purchasing Managers’ Index (PMI) in the US, offering insights into manufacturing sector performance and potential impacts on the US dollar.

Wednesday (24/04/2024)

05:30 AM: Australian Inflation Rate YoY

Assessment of the year-on-year inflation rate in Australia, providing insights into price trends and potential influences on the Australian dollar.

12:00 PM: Germany Ifo Business Climate

Evaluation of the Ifo Business Climate index in Germany, offering insights into business sentiment and potential impacts on the euro.

04:30 PM: US Durable Goods Orders MoM

Monitoring of month-on-month changes in US durable goods orders, providing insights into manufacturing activity and potential currency impacts.

Thursday (25/04/2024)

10:00 AM: Germany GfK Consumer Confidence

Analysis of consumer confidence in Germany, providing insights into consumer sentiment and potential influences on the euro.

04:30 PM: US GDP Growth Rate QoQ Adv

Assessment of the advance quarterly GDP growth rate in the US, offering insights into economic performance and potential impacts on the US dollar.

Friday (26/04/2024)

07:00 AM: Japanese BoJ Interest Rate Decision

Evaluation of the Bank of Japan’s interest rate decision, potentially impacting the Japanese yen and related currency pairs.

04:30 PM: US Core PCE Price Index MoM

Monitoring of month-on-month changes in the US core Personal Consumption Expenditures (PCE) price index, providing insights into inflationary pressures and potential currency impacts.

04:30 PM: US Personal Income MoM

Analysis of month-on-month changes in US personal income, offering insights into consumer spending patterns and potential influences on the US dollar.

04:30 PM: US Personal Spending MoM

Assessment of month-on-month changes in US personal spending, providing insights into consumer behavior and potential currency impacts.

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.

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