The upcoming week in the Forex market (starting March 18th, 2024) is expected to be eventful, with several key events likely to impact currency valuations. Here's a breakdown of some of the important things to watch:
Central Bank Meetings:
- Federal Reserve (Fed): The Fed meeting is a major focus, with investors looking for clues about their next interest rate move. This could significantly impact the US dollar and other currencies.
- European Central Bank (ECB): The ECB meeting will also be watched closely, with some speculation they might cut rates, potentially weakening the Euro.
- Bank of England (BOE) and Swiss National Bank (SNB): Meetings by these central banks could also influence the British Pound and Swiss Franc respectively.
US Economic Data:
- Personal Consumption Expenditures (PCE) Inflation Report: This report is a key inflation indicator, and a higher-than-expected reading could strengthen the US dollar.
Other Important Events:
- Bank of Japan (BOJ) Meeting: While no policy changes are expected, the BOJ's stance on monetary policy could affect the Japanese Yen (JPY).
Overall Volatility:
- Expect some volatility in the market as investors react to news and data releases.
Resources for Staying Informed:
- Forex news websites like https://www.dailyfx.com/ and https://www.fxstreet.com/ provide analysis and forecasts for major currency pairs.
- Economic calendars like https://www.dailyfx.com/economic-calendar or https://www.fxstreet.com/economic-calendar highlight upcoming economic data releases that can affect currencies.
By following these key events and staying informed about the latest news, you can get a better understanding of what might drive the Forex market in the coming week.