Never miss a story from Ilya Spivak

Subscribe to receive daily updates on publications
Please enter valid First Name
Please fill out this field.
Please enter valid Last Name
Please fill out this field.
Please enter valid email
Please fill out this field.
Please select a country

I’d like to receive information from DailyFX and IG about trading opportunities and their products and services via email.

Please fill out this field.

Your Forecast Is Headed to Your Inbox

But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We'll email you login details shortly.

Learn More about Your Demo

You are subscribed to Ilya Spivak

You can manage your subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.
Please try again later.


  • Euro likely to ignore German CPI, may rise as Italy-linked moves retrace
  • US Q1 GDP update, Fed Beige Book unlikely to drive US Dollar volatility
  • NZ Dollar gains, Swiss Franc retreats as markets digest in APAC session

German CPI data headlines the economic calendar in European trading hours. The headline year-on-year inflation rate is expected to tick up to 1.9 percent, the highest in 13 months. A strong print might have inspired Euro gains but that seems unlikely this time around. Indeed, with another Italian election due in the coming months, even firmer inflationary pressure is probably insufficient to inspire near-term ECB tightening.

Later in the day, an updated set of first-quarter US GDP figures and the Fed Beige Book survey of regional economic conditions seem unlikely to trigger a substantive re-evaluation of the monetary policy outlook. That is likely to keep sentiment trends in focus. A pickup in S&P 500 futures hints that might translate into broad-based retracement of recent risk-off moves, at least until fresh fodder emerges.

Most G10 FX majors were in consolidation mode in Asia Pacific trade after the prior session’s breakneck volatility. The Swiss Franc retraced lower after surging to a three-month high as worries about political instability in Italy ravaged financial markets and brandished the currency’s appeal as a regional safe haven. The New Zealand Dollar edged up a bit after yesterday’s sentiment-linked losses.

See our free guide to learn how to use economic news in your trading strategy!


Asia Pacific Trading Session Economic Calendar


European Trading Session Economic Calendar

** All times listed in GMT. See the full economic calendar here.


--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, use the comments section below or @IlyaSpivak on Twitter