Date: 23-Sep-25, Tue, All Day Currency: JPY Importance: 3 Notes: Autumn Equinox Day (Shūbun no Hi) is a public holiday in Japan that celebrates the autumn equinox. It's part of the "Higan" period, when Buddhist temples hold special services and many people visit graves of their ancestors. The holiday often results in reduced business activity in Japan as many people take time off. This can affect economic data releases and market liquidity during the week. Learn More: Legacy Reference

Date: 23-Sep-25, Tue, 19:15 IST Currency: USD Importance: 3 Forecast: Link Previous: 53 Notes: The Manufacturing Purchasing Managers' Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion in the sector; below 50 indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about their company's performance, which can be a leading indicator of overall economic performance. A higher than expected reading should be taken as positive/bullish for the USD while a lower than expected reading should be taken as negative/bearish for the USD. Learn More: USDJPY EURUSD

Date: 23-Sep-25, Tue, 19:15 IST Currency: USD Importance: 3 Forecast: Link Previous: 54.5 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: 23-Sep-25, Tue, 19:20 IST Currency: USD Importance: 3 Notes: U.S. President Trump is scheduled to speak at the United Nations General Assembly (UNGA) as part of the annual General Debate. The speech is expected to focus on American strength and global issues such as Israel-Gaza and Ukraine. Speeches by U.S. presidents can have significant market impacts, particularly on the USD and global equity markets, depending on the content and tone regarding economic policies, trade relations, and geopolitical matters. Watch Live: Link Learn More: USDJPY EURUSD

Date: 23-Sep-25, Tue, 22:05 IST Currency: USD Importance: 3 Notes: Federal Reserve Chair Powell is scheduled to speak, with potential comments on monetary policy, economic outlook, and interest rates. Speeches by the Fed Chair are closely watched by markets as they can provide insights into future policy decisions and influence market expectations. The impact on the USD can be significant depending on the tone and content of the speech regarding inflation, employment, and future rate changes. Watch Live: Link Learn More: USDJPY EURUSD

Date: 24-Sep-25, Wed, All Day Currency: ZAR Importance: 3 Notes: Heritage Day is a public holiday in South Africa that is celebrated on 24 September. It was established in 1995 to recognize and celebrate the cultural wealth of the nation's diverse population. On this day, South Africans are encouraged to take pride in their heritage, including languages, culture, and traditions. Government offices, banks, and many businesses are closed. The holiday can affect rand liquidity in financial markets and may impact trade flows between South Africa and its partners. Learn More: Legacy Reference

Date: 24-Sep-25, Wed, 04:50 IST Currency: USD Importance: 3 Notes: U.S. President Trump is scheduled to deliver a second speech at the United Nations (UN) reception in the evening, following his earlier address during the General Debate. This second speech is expected to reinforce themes of American strength and address global matters. Major speeches by U.S. presidents at such high-profile forums frequently trigger significant moves in financial markets—especially on USD pairs like USDJPY and EURUSD, and global equity indexes—depending on the content and tone regarding economic policy, trade, and geopolitics. Watch Live: Link Learn More: USDJPY EURUSD

Date: 24-Sep-25, Wed, 19:30 IST Currency: USD Importance: 3 Forecast: Link Previous: 652K Notes: New Home Sales measures the annualized number of new single-family homes that were sold during the previous month. This report tends to have more impact when it's released ahead of Existing Home Sales because the reports are tightly correlated. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD. Learn More: USDJPY EURUSD

Date: 24-Sep-25, Wed, 20:00 IST Currency: USD Importance: 3 Previous: -9.285M 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. This report is closely watched by energy traders and can have significant impacts on oil prices and related energy sector equities. Learn More: USOILRoll

Date: 25-Sep-25, Thur, 13:00 IST Currency: CHF Importance: 3 Forecast: Link Previous: 0.00% Notes: Swiss National Bank (SNB) governing board members come to a consensus on where to set the target range for the rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation. A higher than expected rate is positive/bullish for the CHF, while a lower than expected rate is negative/bearish for the CHF. Learn More: CHFJPY USDJPY

Date: 25-Sep-25, Thur, 18:00 IST Currency: USD Importance: 3 Forecast: Link Previous: -2.80% Notes: Durable Goods Orders measures the change in the total value of new orders for long lasting manufactured goods, including transportation items. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD. Learn More: USDJPY EURUSD

Date: 25-Sep-25, Thur, 18:00 IST Currency: USD Importance: 3 Forecast: 3.30% Previous: -0.50% Notes: Gross Domestic Product (GDP) measures the annualized 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. Usual Effect: Actual > Forecast = Good for currency. Frequency: Released monthly. There are 3 versions of GDP released a month apart - Advance, second release and Final. Both the advance the second release are tagged as preliminary in the economic calendar. 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: 25-Sep-25, Thur, 18:00 IST Currency: USD Importance: 3 Forecast: Link Notes: Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week. A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD. Learn More: USDJPY EURUSD

Date: 25-Sep-25, Thur, 19:30 IST Currency: USD Importance: 3 Forecast: Link Previous: 4.01M Notes: Existing Home Sales measures the change in the annualized number of existing residential buildings that were sold during the previous month. This report helps to gauge the strength of the U.S. housing market and is a key indicator of overall economic strength. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD. Learn More: USDJPY EURUSD

Date: 26-Sep-25, Fri, 18:00 IST Currency: USD Importance: 3 Forecast: Link Previous: 0.30% Notes: The Core PCE price Index is the less volatile measure of the PCE price index which excludes the more volatile and seasonal food and energy prices. The impact on the currency may go both ways, a rise in inflation may lead to a rise in interest rates and a rise in local currency, on the other hand, during recession, a rise in inflation may lead to a deepened recession and therefore a fall in local currency. Learn More: USDJPY EURUSD

Date: 26-Sep-25, Fri, 18:00 IST Currency: USD Importance: 3 Forecast: Link Previous: 2.90% Notes: The Core Personal Consumption Expenditure (PCE) Price Index measures the changes in the price of goods and services purchased by consumers for the purpose of consumption, excluding food and energy. Prices are weighted according to total expenditure per item. It measures price change from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD. Learn More: USDJPY EURUSD

Date: 26-Sep-25, Fri, 19:30 IST Currency: USD Importance: 2 Forecast: 58.20 Previous: 55.40 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: 29-Oct-25, Wed, 23:30 IST Currency: USD Importance: 3 Forecast: 3.90% 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