Economic Calendar: RBA, BOJ, BOE, and Fed Meetings

FXOpen

It's another big week for economic data, with plenty of news coming out of the central banks around the world. We start with the minutes from the RBA (Tuesday 04:30 GMT+3), which maintained its interest rate at 4.1% earlier in the month but seems open to further hikes if inflation persists. These minutes will provide valuable insight and may inject some volatility into the Australian dollar, which has been on a downward trajectory since the summer.

Oil had another strong week, with WTI trading above $90 a barrel despite an increase in US inventories. Keep an eye on this week’s inventory data on Wednesday (17:30 GMT+3), where drawdowns are expected to return.

On Wednesday (21:00 GMT+3), the Federal Reserve will announce its latest interest rate. They currently sit at 5.5%, and most analysts are expecting a pause at this meeting. However, last week, data showed an uptick in inflation, and the jobs market remains buoyant, so it would not be a huge surprise to see another 25 bps hike. It’s also worth staying for the press conference at 21:30 GMT+3, as it always provides some context to the number.

The Bank of England is in a spot of bother as it tries to avoid central bankers’ worst nightmare, stagflation! GDP turned negative last month, and inflation data released on Wednesday (09:00 GMT+3) is expected to show a rise in inflation to 7.1%. The BoE meets on Thursday (14:00 GMT+3) to announce their latest interest rate, which they are expected to hike to 5.5% to limit inflation. However, this could well push the UK into a recession down the road, so there may be few buyers of GBP, which has been depreciating of late.

At some point, Japan will increase its interest rate from the current -0.1%. Still, it is unlikely to be at its meeting this Friday (06:00 GMT+3). However, with other changes already happening in its yield curve policy, take nothing for granted with the new BoJ governor.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Latest from Financial Market News

Economic Calendar: US Labour Market and ISM Manufacturing PMI Data, RBA and OPEC+ Meetings Weekly Market Wrap With Gary Thomson: Inflation, EUR/USD, S&P 500, OIL US Government Shutdown: Assessing Economic Impact and Recession Risks Inflation Still Dogs the Economy: What Are the Central Banks Doing About It? Economic calendar: NASDAQ 100 May Keep Falling, High Volatility in Oil Markets, Potential Appreciation of the US Dollar

Latest articles

Financial Market News

Economic Calendar: US Labour Market and ISM Manufacturing PMI Data, RBA and OPEC+ Meetings

The start of October brings plenty of macro data for traders to analyse as high inflation and low growth continue to weigh heavily on central bankers' and politicians' minds. ISM Manufacturing PMI (17:00 GMT+3) from the States gets

Forex Analysis

Market Analysis: Dollar Falls After Inflation Data Release

EUR/USDThe euro rose on Friday following the release of softer-than-expected US inflation data. The data showed that the price index for personal consumption expenditures (PCE), excluding volatile components of food and energy, increased 3.9% year-on-year in August, the

Forex Analysis

Euro Analysis: ECB Cautions Against Rate Cuts Amid Inflation Battle

Luis de Guindos, the Vice-President of the European Central Bank (ECB), has firmly dismissed the notion of rate cuts as "premature" amidst the ongoing struggle to combat surging inflation. Speaking to the Financial Times, he cautioned that overcoming the final

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.