Date: 20-Aug-25, Wed, 7:30 IST Currency: NZD Importance: 3 Forecast: Link Previous: 3.25% Notes: The Reserve Bank of New Zealand (RBNZ) governor decides where to set the rate after consulting senior bank staff and external advisers. As short term interest rates are an important determinant of currency valuation, traders watch interest rate changes closely.

A reading that is stronger than forecast is generally supportive (bullish) for the NZD, while a weaker than forecast reading is generally negative (bearish) for the NZD. Learn More: NZDJPY NZDUSD

Date: 20-Aug-25, Wed, 11:30 IST Currency: GBP Importance: 3 Forecast: Link Previous: 3.60% Notes: The Consumer Price Index (CPI) measures the change in the prices of goods and services contained in a basket of consumer items. The Central bank pays very close attention to this figure in its role of maintaining price stability.

A reading that is stronger than forecast is generally supportive (bullish) for the GBP, while a weaker than forecast reading is generally negative (bearish) for the GBP. Learn More: GBPJPY GBPUSD

Date: 20-Aug-25, Wed, 14:30 IST Currency: EUR Importance: 3 Forecast: Link Previous: 2.00% Notes: The Consumer Price Index (CPI) measures the change in the prices of goods and services contained in a basket of consumer items. The Central bank pays very close attention to this figure in its role of maintaining price stability.

A reading that is stronger than forecast is generally supportive (bullish) for the EUR, while a weaker than forecast reading is generally negative (bearish) for the EUR. Learn More: EURJPY EURUSD

Date: 20-Aug-25, Wed, 20:00 IST Currency: USD Importance: 3 Forecast: Link Previous: 3.036M Notes: The Energy Information Administration's (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation.

If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices. The same can be said if a decline in inventories is less than expected.
If the increase in crude is less than expected, it implies greater demand and is bullish for crude prices. The same can be said if a decline in inventories is more than expected. Learn More: USOILRoll

Date: 20-Aug-25, Wed, 23:30 IST Currency: USD Importance: 3 Notes: The Federal Open Market Committee (FOMC) Meeting Minutes are a detailed record of the committee's policy-setting meeting held about three weeks earlier. The minutes offer detailed insights regarding the FOMC's stance on monetary policy, so currency traders carefully examine them for clues regarding the outcome of future interest rate decisions. Learn More: USDJPY EURUSD

Date: 21-Aug-25, Thur, 18:00 IST Currency: USD Importance: 3 Forecast: Link Notes: Initial Jobless Claims measures the number of people who filed for unemployment insurance for the first time during the past week. This is the most timely U.S. economic data, but the market impact varies from week to week.
A reading that is higher than forecast is generally negative (bearish) for the USD, while a lower than forecast reading is generally supportive (bullish) for the USD. Learn More: USDJPY EURUSD

Date: 21-Aug-25, Thur, 18:00 IST Currency: USD Importance: 3 Forecast: Link Previous: 15.9 Notes: The Philadelphia Federal Reserve Manufacturing Index measures the relative level of business conditions amongst manufacturers in the Federal reserve district. A level above zero on the index indicates improving conditions; below indicates worsening conditions. The data is compiled from a survey of about 250 manufacturers in the Philadelphia Federal Reserve district.

A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD. Learn More: USDJPY EURUSD

Date: 21-Aug-25, Thur, 19:15 IST Currency: USD Importance: 3 Forecast: Link Previous: 49.8 Notes: The Manufacturing Purchasing Managers' Index (PMI) is a diffusion index incorporating survey results provided by manufacturing firms throughout the country. A reading above fifty suggests the manufacturing sector is expanding, while a reading below fifty suggests the manufacturing sector is in contraction. Policymakers and traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, rather than waiting for the hard data to emerge. While manufacturing accounts for a far smaller percentage of economic output than services, it is far more cyclical and is therefore a useful indicator of where in the economic cycle the economy is currently situated. A reading that is stronger than forecast is generally supportive (bullish) for the USD while a weaker than forecast reading is generally negative (bearish) for the USD. Learn More: USDJPY EURUSD

Date: 21-Aug-25, Thur, 19:15 IST Currency: USD Importance: 3 Forecast: Link Previous: 55.7 Notes: The Service PMI release is published monthly by Markit Economics. The data are based on surveys of over 400 executives in private sector service companies. The surveys cover transport and communication, financial intermediaries, business and personal services, computing & IT, hotels and restaurants.
An index level of 50 denotes no change since the previous month, while a level above 50 signals an improvement, and below 50 indicates a deterioration. A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD. Learn More: USDJPY EURUSD

Date: 21-Aug-25, Thur, 19:30 IST Currency: USD Importance: 3 Forecast: Link Previous: 3.93M Notes: Existing Home Sales measures the change in the annualised number of existing residential buildings that were sold during the prior month. This report helps to gauge the strength of the U.S. housing market and is an important indicator of overall economic strength.

A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD. Learn More: USDJPY EURUSD

Date: 21-Aug-25, Thur, 17:30 IST Currency: USD Importance: 3 Forecast: 0.73 Previous: 0.67 Notes: The Walmart (WMT) Earnings Report provides insight into one of the world’s largest retailers and is viewed as a key proxy for U.S. consumer spending due to Walmart’s massive reach across consumer segments. The reported earnings per share (EPS) is a closely watched metric, used by analysts and investors to gauge not only Walmart’s performance but also underlying trends in the broader U.S. retail and consumer spending environment. A higher than expected EPS is generally taken as a positive signal for both Walmart and, by extension, U.S. consumer buying power, which can influence market sentiment on the USD and related sectors. Conversely, a lower EPS can raise concerns about sluggish consumer demand or operational pressures within the retail sector. Earnings releases are accompanied by management commentary and forward guidance, which traders and analysts examine closely for insights into retail sales, supply chain resilience, inflation impacts on consumers, and expectations for coming quarters. Learn More: US500

Date: 22-Aug-25, Fri, 11:30 IST Currency: EUR Importance: 3 Forecast: 0.1% Previous: 0.4% Notes: Gross Domestic Product (GDP) is the broadest measure of economic activity and is a key indicator of economic health. The quarterly percent changes in GDP show the growth rate of the economy as a whole.

A reading that is stronger than forecast is generally supportive (bullish) for the EUR, while a weaker than forecast reading is generally negative (bearish) for the EUR. Learn More: USDJPY EURUSD

Date: 22-Aug-25, Fri, 19:30 IST Currency: USD Importance: 3 Forecast: Link Notes: Federal Reserve Chair Jerome Powell (Feb. 2018 – Feb. 2026) is to speak. As head of the Fed, which controls short term interest rates, he has more influence over the U.S. dollar's value than any other person. Traders closely watch his speeches as they are often used to drop hints regarding future monetary policy. Watch Live: Link Learn More: USDJPY EURUSD

Date: 17-Sep-25, Wed , 23:30 ISTCurrency: USDImportance: 3Forecast: 4.14%Previous: 4.38% Notes: The Federal Open Market Committee (FOMC) announces its decision on the target range for the federal funds rate. Market expectations (e.g., via CME FedWatch Tool) and the accompanying statement/press conference are crucial for determining market impact and future policy direction. A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD. Learn More: CME FedWatch Tool