Markets will be paying close attention to key US data in the coming week. The main focus will be on the release of GDP and inflation figures. These reports will offer fresh guidance for investors and may spark strong volatility in USD pairs.
United States:
● 11:15 p.m. GMT: Speech by FOMC member Williams. Depending on whether the tone is hawkish or dovish, markets will look for hints about the Fed’s next steps, which could trigger localized dollar moves.
Japan:
● 5:00 a.m. GMT: BOJ Core CPI (Year-over-Year). Forecast: 2.4% / Previous: 2.3%. A higher-than-expected figure would strengthen expectations of tighter BOJ policy and support the JPY.
United States:
● 2:00 p.m. GMT: CB Consumer Confidence (August). Forecast: 96.3 / Previous: 97.2. Stronger data would indicate strength of consumer demand and support the dollar, while a weaker index could weigh on it.
Germany:
● 6:00 a.m. GMT: GfK Consumer Climate Index (September). Forecast: -21.3 / Previous: -21.5. A better-than-expected result would be a positive sign for the Eurozone economy and lend modest support to the euro.
United States:
● 2:30 p.m. GMT: Crude Oil Inventories. Previous: -6.014M. A sharp drop in inventories typically lifts oil prices, while an increase tends to push them lower. This could impact the Canadian dollar, which is sensitive to energy markets.
Switzerland:
● 7:00 a.m. GMT: GDP (Quarter-over-Quarter) (Q2). Forecast: 0.1% / Previous: 0.5%. Stronger GDP figures could support the franc.
Eurozone:
● 11:30 a.m. GMT: ECB monetary policy minutes release. Markets will look for signals on the ECB’s next move. A hawkish tone would provide notable support for the euro.
United States:
● 12:30 p.m. GMT: GDP (Quarter-over-Quarter) (Q2). Forecast: 3.0% / Previous: -0.5%. As a key economic indicator, stronger growth would give the dollar a significant boost, while weaker data would pressure it.
● 12:30 p.m. GMT: Initial Jobless Claims. Forecast: 231K / Previous: 235K. A lower-than-expected result points to labor market strength and supports the dollar. A higher number would weaken it.
Germany:
● 12:00 p.m. GMT: CPI (Month-over-Month) (August). Forecast: 0.0% / Previous: 0.3%. Stronger-than-expected inflation could support the euro.
United States:
● 12:30 p.m. GMT: PCE Core Price Index (Month-over-Month) (July). Forecast: 0.3% / Previous: 0.3%.
● 12:30 p.m. GMT: PCE Core Price Index (Year-over-Year) (July). Forecast: 2.8%. This is the Fed’s key inflation gauge. A stronger reading would reinforce expectations that rates will stay higher for longer, supporting the dollar.
Canada:
● 12:30 GMT: GDP (Quarter-over-Quarter) (Q2). Forecast: 0.5%. Stronger-than-expected GDP growth would support the Canadian dollar, while weaker data would weigh on it.
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