News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here:
  • Canadian Dollar snapped a three-week losing streak after USD/CAD stalled at key technical resistance. Get your CAD weekly forecast from @MBForex here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here:
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • The Nasdaq 100 index is aiming to breach a key resistance level at 14,950 for a second time. A successful attempt may open the door to further gains, although the MACD indicator flags signs of weakness. Get your equities forecast from @margaretyjy here:
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here:
FX Week Ahead - Top 5 Events: UK & US Inflation Rates; BOC & RBNZ Rate Decisions; Australian Jobs Report

FX Week Ahead - Top 5 Events: UK & US Inflation Rates; BOC & RBNZ Rate Decisions; Australian Jobs Report

Christopher Vecchio, CFA, Senior Strategist

FX Week Ahead Overview:

  • With a supersaturated economic calendar bringing forth 14 ‘high’ rated events, including inflation reports from the UK and US, it’s the most important week of the month.
  • Central banks are in focus with the Bank of Canada, Bank of Japan, and Reserve Bank of New Zealand rate decisions in the coming days, plus Federal Reserve Chair Jerome Powell’s Congressional testimony.
  • Overall, recent changes in retail trader positioning suggest that the US Dollar has a mixed bias.

For the full week ahead, please visit the DailyFX Economic Calendar.

07/13 TUESDAY | 12:30 GMT | USD Inflation Rate (JUN)

Price pressures remain elevated in the US – but the rate of change is slowing. According to a Bloomberg News survey, the headline US inflation rate is due in at +0.5% from +0.6% (m/m) and +4.9% from +5.0% (y/y) in June, with the core inflation rate (ex energy and food) due in at +0.4% from +0.7% (m/m) and +4.0% from +3.8% (y/y).

While hot inflation readings should theoretically spill into higher US Treasury yields, the fact that the Federal Reserve continues to resolutely insist that inflation is “largely transitory” may prevent significant topside move in yields. Accordingly, there is asymmetric risk for the US Dollar: a hot inflation report may not do anything to push yields higher; a softer inflation reading could justify another leg lower in yields.

07/14 WEDNESDAY | 02:00 GMT | NZD Reserve Bank of New Zealand Rate Decision

The interim period since the May RBNZ policy meeting has produced several strong economic data reports, and when viewed in context of the shift in the RBNZ’s remit (to include house prices), it appears that the ‘steady as she goes’ attitude that emerged from the prior meeting will be more aggressive this time around. Even though the July meeting will not see any new forecasts from the RBNZ, a simple acknowledgement that the New Zealand economy has progressed far enough to warrant discussions around a rate hike could be enough for markets to keep the Kiwi bid.

Reserve Bank of New Zealand Interest Rate Expectations (July 12, 2021) (Table 1)

FX Week Ahead - Top 5 Events: UK & US Inflation Rates; BOC & RBNZ Rate Decisions; Australian Jobs Report

While it’s was noted in May that the “RBNZ may make overtures to signal removal of stimulus plans eventually, but not vis-à-vis the interest rate channel in the near-future,” this is no longer the case. Whereas two months ago there was roughly a 30% chance of a 25-bps rate hike by the end of the year, New Zealand overnight index swaps are now pricing in a 72% chance of such an event.

07/14 WEDNESDAY | 06:00 GMT | GBP Inflation Rate (JUN)

It’s important to note that Andy Haldane is now the former Chief Economist of the Bank of England. What makes this noteworthy is that he was the most hawkish voice among the policymakers on Threadneedle Street. Even though asset purchases are being tapered, the removal of Haldane’s voice from the conversation may make the BOE’s Monetary Policy Committee less sensitive to elevated inflation readings.

The first inflation report in the post-Haldane era is due out this week. According to a Bloomberg News survey, the headline JuneUK inflation rate is due in at +0.2% from +0.6% (m/m) and +2.2% from +2.1% (y/y), with the core inflation rate (ex energy and food) due in unchanged at +2% (y/y). Seeing as how upside price pressures are due to fade, the June UK inflation report may not prove to be helpful to the British Pound.


A strong labor market and persistent inflation readings above the BOC’s mandate – as well as the fact that the BOC projects inflation above its mandate for the next several years – has increased the odds that the next step of stimulus withdrawal takes place at the July BOC policy meeting. It should not come as a surprise if the BOC announces a taper to its QE program of C$1 billion, bringing its asset purchases to C$2 billion per week.

Bank of Canada Interest Rate Expectations (July 12, 2021) (Table 1)

FX Week Ahead - Top 5 Events: UK & US Inflation Rates; BOC & RBNZ Rate Decisions; Australian Jobs Report

In line with previous efforts, the BOC has made clear it is content with its decision to taper, but it remains the case that further action along the interest rate channel remains highly unlikely. According to Canada overnight index swaps, there is a 4% chance of a 25-bps rate hike at the July meeting, and those odds only rise to a meager 36% by year end.

07/15 THURSDAY | 01:30 GMT | AUD Employment Change & Unemployment Rate (JUN)

Australia’s labor market is improving in fits and starts, without much consistency in recent months. According to a Bloomberg News survey, the Australian economy added +30K jobs in June, a significant downshift from the +115.2K jobs added in May. The unemployment rate is expected to drop slightly from 5.1% to 5.0%. But with lockdowns descending upon Australia anew, it may be the case that a strong labor market report is overlooked as the expectation would be for weaker jobs data to arrive in the coming months; a good labor report may be duly dismissed.

--- Written by Christopher Vecchio, CFA, Senior Currency Strategist

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.