Against this backdrop, the euro, British pound, and Australian dollar posted solid gains against the greenback, with their exchange rates breaching key levels in the process. In this article, we analyze the technical outlook for EUR/USD, GBP/USD, and AUD/USD, taking into account market sentiment, price action dynamics and chart formations. Everyone from beginners, market day traders and the very experienced examine market moving events to stay ahead of crucial announcements, all the while looking for excellent trading opportunities.

• However, a close below the 200 SMA with considerable momentum is favourable from a bearish perspective given the potential for the 200 SMA to halt price declines.
• In this article, we analyze the technical outlook for EUR/USD, GBP/USD, and AUD/USD, taking into account market sentiment, price action dynamics and chart formations.
• To go to the “Monthly View” category, just click the “Monthly View” button and it should show you detailed meetings of every bank in each month.

USD/CAD prices could be looking to decline as both fundamentals and technical factors could point to a pullback. From December 19th, 2022, this website is no longer intended for residents of the United States. The AUD/USD sat above the 50-day and 200-day EMAs, reaffirming bullish price signals. Near-term AUD/USD trends hinge on the RBA (Tues), US services sector stats (Tues), and the US Jobs Report (Fri).

RELATED ECONOMIC EVENTS

According to the CME FedWatch Tool, the probability of a 25-basis point March Fed rate stood at 51.5% on Friday vs. 21.0% on Friday, November 24. The jump in the chance of a Q rate cut reflected the market reaction to Fed Chair Powell’s speech on Friday. Softer demand-driven inflationary pressures would ease the need for a hawkish RBA rate path.

• They have a more substantial influence on the market as they are sensitive.
• In this tutorial, you will learn how to use the Dailyfx economic calendar, dividend calendar, and central bank calendar.
• A forex calendar shows such news, and traders take their trades accordingly, impacting the overall trade situation in the long term.
• The volatility factors enter here; based on that; the leading indicators can be separated into three groups based on their impact.
• Different websites can have different looks for their economic calendar.

Information presented by DailyFX Limited should be construed as market commentary, merely observing economical, political and market conditions. It is not a solicitation or a recommendation to trade derivatives contracts or securities and should not be construed or interpreted as financial advice. Any examples given are provided for illustrative purposes only and no representation is being made that any person will, or is likely to, achieve profits or losses similar to those examples.

OPEC+ are looking to add more member states which in turn will allow them greater control over the price of Oil moving forward and limit the impact of what is known as ‘Free Riders’. Interesting times ahead just as the possibility of uncertainty in the Middle East rages on. ⦁ As has been noted, market-moving events play a crucial role in Forex. ⦁ Use the calendar to help you make wise decisions on optimizing your trading. This will give you the ability to filter events based on expected impact, event types and currencies. The most significant indications have a significant influence on other markets and currencies in addition to having a significant impact on the dollar price.

What is the Dailyfx Economic Calendar?

The trader enters a position right after the news because the economic event confirms the trend, and the trader’s plan is based on technical analysis. An economy’s total or overall economy is impacted by various events that tend to change rapidly. Online forex calendars are quickly updated to reflect such changes on a real-time basis, which eventually helps traders decide their trades.

Euro Update: EUR/USD Meets Support, While EUR/GBP Looks to Halt Major Sell-off

A forex trader needs to know three essential aspects of data given on the forex calendar in the forex market. Those three factors are the preceding period, the current period, and the analysts’ estimation of any specific data. The trader will not trade because the technical analysis plan is not confirmed using fundamental analysis (economic event). All the mentioned events are the drivers of volatility and significantly impact the forex market. However, TheNonfarmm Payroll Data has the most impact on the market when released on the first Friday of every month and states the U.S… jobs market data.

Each and every economic event is labeled with an impact from no-impact to low, medium and high impact as well as the previous, consensus and actual result. An economic calendar is the calendar of forthcoming economic events that happen across the globe and is likely to impact various financial markets like currency, stocks, indices, bonds, and more. In any of the needs you trade, at any time, you have to keep yourself updated with the daily news. Being updated with significant economic events can have substantial effects even for long-term investors. A forex calendar shows such news, and traders take their trades accordingly, impacting the overall trade situation in the long term. The economic calendar is just another trigger in the overall trader’s strategy.

US Dollar jumps to crucial technical levels on Monday

Economic reports are the main essence behind each precise move for a forex trader, and forex calendars are a medium for getting such reports and valuable information. A complete release schedule of news events coming out of the G-10 countries, with filter capabilities to rank each by their importance. In recent days, U.S. interest rate expectations have shifted in a more dovish direction on daily fx calendar bets that the FOMC has finished hiking borrowing costs and will move to ease its stance next year. A light grey horizontal line shows you where we stand at the moment and below that line go all upcoming data. Time left before next release is indicated so you quickly grasp when this is coming. When a new data is released, the calendar page is automatically refreshed so you do not miss it.

Be cautious about limiting your risk and steering clear of overexposure and excessive leverage! Avoid making the same errors in trading that other unsuccessful traders have made. No matter what period you trade on, it would help if you made it a habit to check the forthcoming events on the calendar every day.

What is a Central Bank?

Undoubtedly, the American dollar rules the market, having ‘Reserve Currency’ in many nations. Still, other national events of different countries also impact this arena. Such events have gigantic effects on the currency market, even though the ruling currency is the dollar. Because of the market’s heightened volatility, it is essential to keep in mind that trading around news events might result in significant slippage in a position.

This is because upcoming events have a good chance of affecting the various financial markets, such as forex, stocks, bonds, and commodities. The Dailyfx.com economic calendar is a simple way for traders to keep track and stay on top of the latest markets news releases and announcements. The week ahead will be mostly dictated by US factors (see economic calendar below) with short-term focus on ISM service PMI tomorrow.

A hawkish RBA hold, softer service sector activity, and weaker wage growth would deliver further AUD/USD gains on monetary policy divergence. Australian home loans and company gross profits will garner investor interest on Monday. GDP growth for Q3 is expected to register a 0.1% contraction compared to Q2 while the year-on-year data is expected to reveal a meagre 0.1% improvement when compared to Q3 of 2022. The trade balance between the two countries states how much demand and supply are between them.

I research, test and trade with the latest and best brokers, signal providers and trading tools to help you find out what works best. Once everything has been set, just click the “close icon” to begin showing only the events and currencies you have selected. Red means high-impact, orange is medium-impact and blue means low impact news.

Different websites can have different looks for their economic calendar. Still, a few things will be the same in all of them, including country name, indicator name, impact or importance of the indicator, current value, future or forecast value, past value, etc. These are the essential information you can expect from a typical forex calendar. The OPEC+ meeting last week failed to convince markets with the 2.2 million bpd seemingly falling short of market expectations. This is really interesting as it comes at a time when US Crude Oil production set a record for second successive month adding a challenge to OPEC+ as they look to keep prices under control.