Economic Calendar & Forex Market Impact Tool
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Forex Market Impact Guide
Understand how key economic indicators typically influence currency movements.
Interest Rate Decisions (Central Banks)
These are arguably the most impactful events. When a central bank raises interest rates, it typically makes the country's currency more attractive to foreign investors seeking higher returns, leading to currency appreciation (bullish). Conversely, a rate cut or dovish stance often leads to currency depreciation (bearish).
Example: Higher than expected rate hike for USD is bullish for USD.
Non-Farm Payrolls (NFP - USA) / Employment Reports
For the US, NFP is a key indicator of labor market health. Strong job growth (higher than forecast) generally indicates a healthy economy, which is bullish for the currency (USD). Weak job growth or a rise in unemployment signals economic weakness and is bearish.
Example: Actual NFP > Forecast NFP is bullish for USD.
Consumer Price Index (CPI) / Inflation Reports
CPI measures inflation. Higher-than-expected inflation can pressure central banks to raise interest rates to control rising prices, making the currency more attractive (bullish). Lower inflation or deflation can suggest economic weakness or prompt rate cuts (bearish).
Example: Higher than forecast CPI is bullish for associated currency (e.g., EUR for Eurozone CPI).
Gross Domestic Product (GDP)
GDP is the broadest measure of economic activity. Stronger-than-expected GDP growth indicates a robust economy, which is bullish for the currency. Weaker GDP growth signals economic contraction and is bearish.
Example: Actual GDP > Forecast GDP is bullish for associated currency.
Purchasing Managers' Index (PMI)
PMI (Manufacturing, Services, Composite) reflects business conditions and sentiment. A reading above 50 indicates expansion, while below 50 indicates contraction. Stronger PMIs (especially above 50 and rising) are bullish for the currency, indicating economic growth. Weaker PMIs are bearish.
Example: PMI > 50 and rising is bullish for associated currency.
Retail Sales
Measures consumer spending. Strong retail sales indicate healthy consumer demand, which is a major component of economic growth and is generally bullish for the currency. Weak sales are bearish.
Example: Higher than forecast Retail Sales is bullish for associated currency.