Date: 08-Sep-25, Mon, 05:20 IST Currency: JPY Importance: 3 Forecast: 0.30% Previous: 0.30% Notes: Revised government data due Monday is expected to confirm that the Japanese economy grew modestly in the April-June quarter at a pace that almost matches initial estimates. Gross Domestic Product (GDP) measures the change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy's health.

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

Date: 10-Sep-25, Wed, 22:30 IST Currency: USD Importance: 3 Previous: 2.415M 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. Learn More: USOILRoll

Date: 08-Sep-25, Mon, 11:30 IST Currency: USD Importance: 3 Forecast: 0.00% Previous: 0.00% Notes: Test event for product testing - this event is hidden from public view but will be scraped by the system for testing purposes.

Date: 09-Sep-25, Tues, 19:30 IST Currency: USD Importance: 2 Previous: -598K Notes: A benchmark revision is the difference between the benchmark employment level for a given period and its corresponding sample-based estimate. The overall accuracy of the establishment survey is usually gauged by the size of this difference. The benchmark revision often is regarded as a proxy for total survey error, but this does not take into account error in the universe data. The employment counts obtained from quarterly unemployment insurance tax forms are administrative data that reflect employer record-keeping practices and differing State laws and procedures. The benchmark revision can be more precisely interpreted as the difference between two independently derived employment counts, each subject to its own error sources. Learn More: USDJPY EURUSD

Date: 10-Sep-25, Wed, 18:00 IST Currency: USD Importance: 3 Forecast: Link Previous: 0.90% Notes: Producer prices data for August on Wednesday will be closely watched for any signs that pipeline inflationary pressures are gathering momentum due to tariffs. The Producer Price Index (PPI) measures a change in input prices of raw, semi-finished or finished goods and services. If input costs rise, some will be absorbed by the producer and some passed on to the consumer. Conversely, if input costs fall, some of the decline will be enjoyed as wider profit margins by the producer and some will be passed on to the consumer in the form of lower prices. Because PPI impacts consumer prices, it is watched by central bankers as part of fulfilling their mandate of price stability.

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. With markets pricing a likely Fed rate cut at the September meeting, PPI will be monitored for any tariff-driven upside that could alter the Fed's timing or the expected pace of easing. Learn More: USDJPY EURUSD

Date: 10-Sep-25, Wed, 22:30 IST Currency: USD Importance: 3 Forecast: Link Previous: 4.255% Notes: The Treasury will auction $39 billion in 10-year notes on Wednesday. The figures displayed in the calendar represent the yield on the Treasury Note auctioned.

U.S. Treasury Notes have maturities of two to ten years. Governments issue treasuries to borrow money to cover the gap between the amount they receive in taxes and the amount they spend to refinance existing debt and/or to raise capital. The rate on a Treasury Note represents the return an investor will receive by holding the note for its entire duration. All bidders receive the same rate at the highest accepted bid.

Yield fluctuations should be monitored closely as an indicator of the government debt situation. Investors compare the average rate at auction to the rate at previous auctions of the same security. Learn More: USDJPY EURUSD

Date: 11-Sep-25, Thur, 17:45 IST Currency: EUR Importance: 3 Forecast: 2.000% Previous: 2.000% Notes: The ECB is all but certain to leave policy rates on hold, with the deposit rate at 2.00%, while only small revisions are expected in the quarterly staff forecasts. Still, investors will look for clues on the rate outlook for the coming months, particularly given risks to the economy from hefty U.S. trade tariffs. The ECB will emphasise whether recent trade and energy developments alter the near‑term inflation trajectory in the euro area. Learn More: EURJPY EURUSD

Date: 11-Sep-25, Thur, 17:45 IST Currency: EUR Importance: 3 Forecast: 2.150% Previous: 2.150% Notes: The European Central Bank publishes its decision on where to set the benchmark interest rate. 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 EUR, while a weaker than forecast reading is generally negative (bearish) for the EUR. Given the wider European context — including the French confidence vote and potential trade shocks from tariffs — investors will carefully parse the ECB's statement for guidance on the policy path. Learn More: EURJPY EURUSD

Date: 11-Sep-25, Thur, 18:00 IST Currency: USD Importance: 3 Forecast: 0.300% Previous: 0.300% Notes: The Core Consumer Price Index (CPI) measures the changes in the price of goods and services, excluding food and energy. The Central bank pays very close attention to this figure in its role of maintaining price stability. Because the Fed believes that core inflation is a better gauge of underlying price pressures, it is more closely watched than overall inflation which tends to be more volatile.

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. With markets pricing a likely Fed cut in mid‑September, core CPI outcomes will be scrutinized for signals that could accelerate or slow the timing and size of easing. Learn More: USDJPY EURUSD

Date: 11-Sep-25, Thur, 18:00 IST Currency: USD Importance: 3 Forecast: Link Previous: 2.700% 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 USD, while a weaker than forecast reading is generally negative (bearish) for the USD. Given tariff uncertainty and recent weak jobs data, headline CPI will be a key input into market expectations for the Fed's September move and the subsequent easing path. Learn More: USDJPY EURUSD

Date: 11-Sep-25, Thur, 18:00 IST Currency: USD Importance: 3 Forecast: 0.300% Previous: 0.200% 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 USD, while a weaker than forecast reading is generally negative (bearish) for the USD. Tariff developments and recent weakness in payrolls make this CPI print especially important for the Fed outlook; markets are watching for any sign that tariffs are pushing prices higher. Learn More: USDJPY EURUSD

Date: 11-Sep-25, Thur, 18:00 IST Currency: USD Importance: 3 Forecast: Link Previous: 237K 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. Recent weak jobs data have contributed to strong market odds for a Fed rate cut in mid‑September, so claims data will be watched for confirmation of labour‑market softening. Learn More: USDJPY EURUSD

Date: 11-Sep-25, Thur, 18:15 IST Currency: EUR Importance: 3 Notes: The European Central Bank (ECB) press conference is held monthly, about 45 minutes after the Minimum Bid Rate is announced. The conference is approximately an hour long and has two parts. Firstly, a prepared statement is read, then the conference is open to press questions. The press conference examines the factors which affected the ECB's interest rate decision and deals with the overall economic outlook and inflation. Most importantly, it provides clues regarding future monetary policy. High levels of volatility can frequently be observed during the press conference as press questions lead to unscripted answers. Learn More: EURJPY EURUSD

Date: 11-Sep-25, Thur, 22:30 IST Currency: USD Importance: 3 Previous: 4.813% Notes: The figures displayed in the calendar represent the yield on the Treasury Bond auctioned. U.S. Treasury Bonds have maturities from ten up to 30 years. Governments issue treasuries to borrow money to cover the gap between the amount they receive in taxes and the amount they spend to refinance existing debt and/or to raise capital. The rate on a Treasury Bond represents the return an investor will receive by holding the bond for its entire duration. All bidders receive the same rate at the highest accepted bid. Learn More: USDJPY EURUSD

Date: 12-Sep-25, Fri, 11:30 IST Currency: GBP Importance: 3 Forecast: Link Previous: 0.400% Notes: U.K. gross domestic product data for July is the main focus for the week. A solid reading would cement expectations that the Bank of England is unlikely to cut interest rates again in the near term, while a weaker print could raise the odds of further easing. Economists expect modest growth after a strong second quarter; investors will watch the details (production, services and retail) for signs of momentum or weakness.

These GDP figures, together with upcoming industrial production and trade data, will help shape market expectations for the BoE's policy path. Learn More: GBPJPY GBPUSD

Date: 12-Sep-25, Fri, 19:30 IST Currency: USD Importance: 2 Actual: 58.00 Forecast: 58.20 Notes: The University of Michigan Consumer Sentiment Index is composed of survey results comparing the relative level of both current and future economic conditions. There are two versions of this data released two weeks apart, preliminary and revised. The preliminary data tends to have a greater impact as it is more timely. The reading is compiled from a survey of around 500 consumers.

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: 12-Sep-25, Fri, 19:30 IST Currency: USD Importance: 2 Forecast: 62.20 Previous: 61.70 Notes: The University of Michigan Consumer Sentiment Index is composed of survey results comparing the relative level of both current and future economic conditions. There are two versions of this data released two weeks apart, preliminary and revised. The preliminary data tends to have a greater impact as it is more timely. The reading is compiled from a survey of around 500 consumers.

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: 12-Sep-25, Fri, 11:30 IST Currency: EUR Importance: 3 Forecast: 0.100% Previous: 0.300% Notes: Final August inflation data for Germany will be released on Friday and is a key input for the ECB's assessment of price pressures in the euro area. Markets will watch whether headline and core prints confirm easing inflation trends or show renewed strength. The German CPI reading, together with final prints from France and Spain, helps shape expectations for the ECB's policy outlook and the near-term path for rates. Learn More: USDJPY EURUSD

Date: 17-Sep-25, Wed , 23:30 ISTCurrency: USDImportance: 3Forecast: 4.17%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