Economic calendar summary
Interest rate decisions across the globe headline this week's economic data releases. Traders could see price action throughout trading sessions as the US, Euro Area, and Japan decide on short term interest rates. Both the US and the ECB are expected to raise rates 25 basis points, while the Bank of Japan will most likely stay at -0.1%.
Australia leads off the week with quarterly inflation data, and the US wraps up with core PCE index data on Friday.
Check out the entire economic calendar
Inflation Rate - Australia
Time: 9:30pm ET Tuesday, July 25th
Previous: 7.0%
Expected: 6.3%
Australia's quarterly inflation data expects to lower from 7% in the first quarter of the year. The Reserve Bank of Australia will look to this reading for guidance ahead of their interest rate decision next week.
Interest Rate Decision - US
Time: 2:00pm ET Wednesday, July 26th
Previous: 5.25%
Expected: 5.5%
The Fed is forecasted to hike rates an additional 25 bps on Wednesday following a hold last meeting. This comes after inflation data was lower than expected, but still far from the Fed's 2% goal.
Interest Rate Decision - ECB
Time: 8:15am ET Thursday, July 27th
Previous: 4.0%
Expected: 4.25%
The European Central Bank is also expected to raise interest rates by 25 basis points. Traders will likely look to EUR/USD following both interest rate decisions for possible price action.
Interest Rate Decision - Japan
Time: 11:00pm ET Thursday, July 27th
Previous: -0.1%
Expected: -0.1%
Japan remains the only major economy to hold short term interest rates steady and negative, with no raises expected. This hold would increase the spread in interest rates against USD and EUR - if the week plays out as forecasted.
Core PCE Price Index - US
Time: 8:30am ET Friday, July 28th
Previous: 0.3%
Expected: 0.2%
Continued easing in core personal consumption expenditure prices is expected this month. Traders will have a clearer picture of US dollar strength heading into the weekend with this reading combined with the rate decision earlier in the week.
How to trade economic events
1. Open an account to get started, or practice on a demo account
2. Choose your forex trading platform
3. Open, monitor, and close positions on forex pairs
Trading economic events with forex requires an account with a forex provider like IG. Many traders watch major forex pairs like EUR/USD and USD/JPY for potential opportunities based on economic events such as inflation releases or interest rate decisions. Economic events can produce more volatility for forex pairs, which can mean greater potential profits and losses as risks can increase at these times.
You can help develop your forex trading strategies using resources like IG’s Trading Academy. Once your strategy is developed, you can follow the above steps to opening an account and getting started trading forex.
Your profit or loss is calculated according to your full position size. Leverage will magnify both your profits and losses. It’s important to manage your risks carefully as losses can exceed your deposit. Ensure you understand the risks and benefits associated with trading leveraged products before you start trading with them. Trade using money you’re comfortable losing.Rate hikes projected for US and ECB
Economic calendar summary
Interest rate decisions across the globe headline this week's economic data releases. Traders could see price action throughout trading sessions as the US, Euro Area, and Japan decide on short term interest rates. Both the US and the ECB are expected to raise rates 25 basis points, while the Bank of Japan will most likely stay at -0.1%.
Australia leads off the week with quarterly inflation data, and the US wraps up with core PCE index data on Friday.
Check out the entire economic calendar
Inflation Rate - Australia
Time: 9:30pm ET Tuesday, July 25th
Previous: 7.0%
Expected: 6.3%
Australia's quarterly inflation data expects to lower from 7% in the first quarter of the year. The Reserve Bank of Australia will look to this reading for guidance ahead of their interest rate decision next week.
Interest Rate Decision - US
Time: 2:00pm ET Wednesday, July 26th
Previous: 5.25%
Expected: 5.5%
The Fed is forecasted to hike rates an additional 25 bps on Wednesday following a hold last meeting. This comes after inflation data was lower than expected, but still far from the Fed's 2% goal.
Interest Rate Decision - ECB
Time: 8:15am ET Thursday, July 27th
Previous: 4.0%
Expected: 4.25%
The European Central Bank is also expected to raise interest rates by 25 basis points. Traders will likely look to EUR/USD following both interest rate decisions for possible price action.
Interest Rate Decision - Japan
Time: 11:00pm ET Thursday, July 27th
Previous: -0.1%
Expected: -0.1%
Japan remains the only major economy to hold short term interest rates steady and negative, with no raises expected. This hold would increase the spread in interest rates against USD and EUR - if the week plays out as forecasted.
Core PCE Price Index - US
Time: 8:30am ET Friday, July 28th
Previous: 0.3%
Expected: 0.2%
Continued easing in core personal consumption expenditure prices is expected this month. Traders will have a clearer picture of US dollar strength heading into the weekend with this reading combined with the rate decision earlier in the week.
How to trade economic events
1. Open an account to get started, or practice on a demo account
2. Choose your forex trading platform
3. Open, monitor, and close positions on forex pairs
Trading economic events with forex requires an account with a forex provider like IG. Many traders watch major forex pairs like EUR/USD and USD/JPY for potential opportunities based on economic events such as inflation releases or interest rate decisions. Economic events can produce more volatility for forex pairs, which can mean greater potential profits and losses as risks can increase at these times.
You can help develop your forex trading strategies using resources like IG’s Trading Academy. Once your strategy is developed, you can follow the above steps to opening an account and getting started trading forex.
Your profit or loss is calculated according to your full position size. Leverage will magnify both your profits and losses. It’s important to manage your risks carefully as losses can exceed your deposit. Ensure you understand the risks and benefits associated with trading leveraged products before you start trading with them. Trade using money you’re comfortable losing.Disclaimer:
This information has been prepared by IG, a trading name of IG US LLC. This material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. You should not treat any opinion expressed in this material as a specific inducement to make any investment or follow any strategy, but only as an expression of opinion. This material does not consider your investment objectives, financial situation or needs and is not intended as recommendations appropriate for you. No representation or warranty is given as to the accuracy or completeness of the above information. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. Any research provided should be considered as promotional and was prepared in accordance with CFTC 1.71 and designed to promote the independence of investment research. See our Summary Conflicts Policy, available on our website.
Publication date:
2023-07-25 08:36:32 (GMT)
The terms and conditions of use set out below (referred to as "FX Blue's Terms"), form a contractual agreement governing FX Blue's relationship with you in relation to your use of this Website (“Agreement”) and you agree to be legally bound by FX Blue's Terms just as if you had signed this Agreement. By using this Website and any Information, you are agreeing to comply with and be bound by FX Blue's Terms, including any revisions that may be made to FX Blue's Terms from time to time. FX Blue reserves the right, in FX Blue's sole discretion, to change, modify, add or remove portions of FX Blue's Terms at any time by posting the revisions on the Website. You should check FX Blue's Terms periodically for changes as by using the Website after FX Blue posts any changes to FX Blue's Terms, you are agreeing to accept those changes, whether or not you have reviewed them, and you waive any right you may have to receive individualised notice of such changes. FX Blue's Terms may be supplemented by additional terms and conditions pertaining to specific content and activities. You agree and understand that such additional terms and conditions are hereby incorporated by reference to FX Blue's Terms. Your continued use of the Website means that you accept any new or modified FX Blue Terms.