Upcoming Key Events This Week

EUR – ECB President Lagarde Speech – 2:00pm GMT: European Central Bank (ECB) President Christine Lagarde will deliver a speech that could provide insights into the ECB’s stance on inflation, interest rates, and economic outlook. Any hawkish or dovish remarks may influence the direction of the EUR and European equity markets.

CNY – New Loans Data (Tentative): China’s new loan figures are a key indicator of credit expansion in the world’s second-largest economy. A stronger-than-expected number could signal continued economic recovery and may impact the global risk sentiment, influencing currencies like AUD and NZD.
GBP – BoE Governor Bailey Speech – 12:15pm GMT: Following the Bank of England’s recent decision on interest rates, Governor Andrew Bailey’s speech will be closely watched for any clarification or policy hints. His remarks could affect the GBP and UK stock indices.
USD – Fed Chair Powell Testifies – 3:00pm GMT: Federal Reserve Chairman Jerome Powell’s testimony before Congress will be a key event for the USD and global markets. Traders will watch for any commentary on inflation, interest rates, and economic growth. Market volatility is expected, especially in USD-related assets.

USD – Core CPI m/m – 1:30pm GMT: The core Consumer Price Index (CPI) measures inflation excluding food and energy prices. A higher-than-expected reading could reduce the likelihood of a Fed rate cut and boost the USD, while a lower figure may have the opposite effect.
USD – CPI m/m & CPI y/y – 1:30pm GMT: Headline CPI data will give a broader picture of inflation trends. The annual figure is expected at 2.9%, in line with previous readings. Any surprise here could shift expectations for Federal Reserve policy.
USD – Fed Chair Powell Testifies – 3:00pm GMT: Powell’s second day of testimony could provide additional insights into the Fed’s policy outlook. The Q&A session with lawmakers may spark further market movements.
USD – Crude Oil Inventories – 3:30pm GMT: Oil traders will focus on the crude inventory report for clues on supply and demand dynamics. A sharp increase in stockpiles could pressure oil prices, while a decline may boost them.
USD – FOMC Member Waller Speaks – 10:05pm GMT: Federal Reserve member Christopher Waller’s comments may reinforce or counterbalance Powell’s testimony, impacting USD trading sentiment.

NZD – Inflation Expectations q/q – 2:00am GMT: The Reserve Bank of New Zealand (RBNZ) closely monitors this release to guide its monetary policy decisions. Any significant deviation from expectations could influence the NZD.
GBP – GDP m/m & Preliminary GDP q/q – 7:00am GMT: UK growth data will be a crucial indicator of economic momentum. A negative GDP figure could fuel recession fears, weighing on the GBP and UK equities.
CHF – CPI m/m – 7:30am GMT: Switzerland’s inflation data may impact the Swiss National Bank’s (SNB) policy stance, influencing CHF movements.
USD – Core PPI m/m – 1:30pm GMT: Producer Price Index (PPI) data is an important inflation measure that could impact market expectations for future consumer inflation trends.
USD – PPI m/m – 1:30pm GMT: Factory gate inflation trends may indicate broader cost pressures in the economy. Higher-than-expected numbers could support the USD.
USD – Unemployment Claims – 1:30pm GMT: A key weekly labor market indicator. A higher-than-expected number may indicate economic weakness, while a lower figure could reinforce strength in the labor market.

USD – Core Retail Sales m/m – 1:30pm GMT: Retail sales data is a key measure of consumer spending. A strong figure may support the USD and U.S. stock indices, while a weak number could dampen sentiment.
USD – Retail Sales m/m – 1:30pm GMT: Headline retail sales figures will provide further insight into consumer demand trends. Any unexpected deviation from forecasts could trigger market volatility.

This calendar captures the key economic events, releases, and their potential market impacts for the week.