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Staying informed with the forex economic calendar helps traders plan their forex trades accordingly and make informed decisions. Any movement in currency rates due to these key events can shape the overall currency market sentiment.
Let us dive straight into the major events to watch in 2024.
January
- Non-Farm Payrolls (NFP) Report: NFP data can identify trends related to inflation and economic growth. The first report will be released on 5 January 2024, followed by monthly reports.
- Unemployment Rate Releases: Higher unemployment weakens currency, and lower unemployment strengthens currency. The first release will be on 5 January 2024, and monthly after that.
- Consumer Price Index (CPI) Releases: CPI tracks inflation, guiding monetary policy. The first release will be on 11th January 2024, and monthly after that.
- Producer Price Index (PPI) Releases: PPI signals inflationary pressures. The first release will be on 12 January 2024, and monthly after that.
February
- Eurozone GDP release: It gauges the strength of the Euro and potential policy directions in EUR. The first report will be presented in February 2024, with the date yet to be decided.
- Bank of England (BoE) rate decision: It monitors rate decisions for signals about future monetary policy and economic conditions in GBP. The first meeting will take place on 1 February 2024.
- US retail sales report: This data can assess consumer confidence and potential impacts on currency values. The report is generated quarterly, and the first of it will be released on February 20, 2024.
March
- ISM Manufacturing PMI: The report impacts the forex market by reflecting changes in a country’s manufacturing sector. The report will be released on 1 March 2024.
- BOC Rate Statement: It provides insights into the central bank’s monetary policy stance. It will be released on 6th March, 2024.
- German Flash Manufacturing PMI: The report signals changes in Germany’s manufacturing sector. The report will be released on 21 March 2024.
April
- ECB Monetary Policy Meeting Accounts: It provides insights into the European Central Bank’s policy outlook, influencing the Euro’s value based on expectations for interest rates. The report will be released on 4 April 2024.
- Core Retail Sales m/m: It reflects changes in a country’s consumer spending, impacting the currency as it signals economic strength or weakness. It will be released on 15 April 2024.
- Treasury Currency Report: This report reveals the US Treasury’s stance on currency manipulation, affecting perceptions of fair trade practices and trade relations. It will be released on 20th April, 2024, tentatively.
May
- Federal Funds Rate Report: It signals changes in the US interest rates, impacting the value of the US Dollar. The report will be released on 1 May 2024.
- Monetary Policy Summary: It provides a concise overview of a central bank’s recent policy decisions, affecting the currency based on interest rate expectations and economic outlook. It will release on 9 May 2024.
- RBNZ Monetary Policy Statement: It influences the New Zealand Dollar by offering insights into the Reserve Bank of New Zealand’s monetary policy stance and economic projections. The statement will be released on 22 May 2024.
June
- JOLTS Job Openings Report: It provides insights into the US market conditions, impacting the currency based on employment and economic strength. It will release on 4 June 2024.
- Overnight Rate: It signals changes in a country’s interest rates, influencing the currency value. The report will be released on 5 June 2024.
- SNB Press Conference: It influences the Swiss Franc by offering insights into the Swiss National Bank’s policy outlook and economic assessment. The event will occur on 20 June 2024.
July
- Federal Reserve (FOMC) rate decision: The Federal Reserve’s FOMC rate decision impacts the relative interest rate differentials. One of the FOMC meetings will be held on 3 July 2024, followed by seven others in later months.
- European Central Bank (ECB) press conference: The ECB’s press conference decision affects short-term decisions about interest rates in the Eurozone, affecting the prices of EUR. One of the ECB meetings will occur on 18 July 2024, followed by others later.
- Unemployment Claims: It reflects changes in jobless claims, influencing currency values based on economic health and labor market conditions. The report will be released on 25 July 2024.
August
- BOE Monetary Policy Report: BOE insights alter Sterling’s value via rate expectations and policy. The report will be released on 1 August 2024.
- Core PCE Price Index m/m: Inflation gauge influences currency values, affecting forex market expectations. It will be released on 30 August 2024.
- Manufacturing PMI: The report reflects manufacturing sector health, impacting currency on economic sentiment, and will be released on 30 August 2024.
September
- ADP Non-Farm Employment Change: The report influences USD, shaping market expectations before NFP announcements. One of these reports will be released on 4 September 2024.
- Empire State Manufacturing Index: It reflects the manufacturing health, impacting USD on economic sentiment. It will be released on 16 September 2024.
- RBA Rate Statement: RBA insights on rates affect AUD, shaping currency value perceptions. The report will be released on 24 September 2024.
October
- UK retail sales data: It indicates consumer spending trends in the UK. Traders use this information to gauge economic health and potential movements in the GBP. The event will occur on 18 October 2024.
- BOC Rate Statement: It influences CAD, affecting currency values and expectations. The report will be released on 23 October 2024.
- Flash Manufacturing PMI (24 Oct): Early manufacturing data shapes currency values, indicating economic strength or weakness. The report will be released on 24 October 2024.
November
- Non-Farm Employment Changes: The US job data influences USD, shaping market expectations and sentiment. The report will be released on 1 November 2024.
- Congressional Elections: Congressional elections may positively or negatively impact currency values. The event will occur on 5 November 2024.
- Inflation Expectations q/q: Inflation data influences currency values and the forex market. The report will be released on 6 November 2024.
December
- Prelim UoM Consumer Sentiment: Consumer sentiment influences currency, reflecting economic confidence and spending outlook. The report will be released on 6 December 2024.
- Parliamentary Elections: The parliamentary elections will impact currency values, reflecting market sentiment and stability. The event will occur on 11 December 2024.
- Industrial Production y/y: Output data shapes currency values, indicating economic strength or weakness. The report will be released on 13 December 2024.
Planning forex trades according to major events
Watching the forex economic calendar closely helps traders plan their trades with precision and also enables them to stay ahead of impactful economic developments. One can gauge the market sentiment and place trading orders accordingly if they are aware of the economic events taking place.
Disclaimer:
- All material published on our website is intended for informational purposes only and should not be considered personal advice or recommendation. As margin FX/CFDs are highly leveraged products, your gains and losses are magnified, and you could lose substantially more than your initial deposit. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. Investing in margin FX/CFDs does not give you any entitlements or rights to the underlying assets (e.g. the right to receive dividend payments). 𝖢𝖥𝖣𝗌 𝖼𝖺𝗋𝗋𝗒 𝖺 𝗁𝗂𝗀𝗁 𝗋𝗂𝗌𝗄 𝗈𝖿 𝗂𝗇𝗏𝖾𝗌𝗍𝗆𝖾𝗇𝗍 𝗅𝗈𝗌𝗌.
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