OANDA Updated Q2 FX Quarterly Outlook: A patient period is upon us

Tuesday, April 23rd

3:15am ET           EUR France PMI data

3:30am ET           EUR Germany PMI data

4:00am ET           EUR Eurozone PMI data

10:00am ET         USD New Home Sales

9:30pm ET           AUD CPI q/q

Wednesday, April 24th

4:00am ET           EUR German IFO Business Climate

7:00am ET           USD MBA Mortgage Applications

9:00am ET           EUR Belgium Business Confidence

10:00am ET         CAD BOC Interest Rate Decision

10:30am ET         DOE US Crude Oil Inventories

Thursday, April 25th

JPY BOJ Interest Rate Decision, Outlook Report and Press Conference

3:30am ET           SEK Riksbank Interest Rate Decision

7:00am ET           TRY Turkey CBRT Interest Rate Decision

8:30am ET           USD Durable Goods

8:30am ET           USD Initial Jobless Claims

6:45pm ET           NZD Trade Balance

7:30pm ET           JPY Jobless Rate

Friday, April 26th

6:30am ET           RUB Russia Central Bank (CBR) Interest Rate Decision

8:30am ET           USD Q1 Advance GDP Annualized q/q

10:00am ET         USD Michigan Confidence

Monday, April 29th

4:00am ET           EUR M3 Money Supply y/y

5:00am ET           EUR Eurozone Business Climate Indicator and Confidence data

8:30am ET           USD Personal Income and Spending data

8:30am ET           USD PCE Core and Deflator readings

21:00pm ET        CNY Manufacturing PMI

Tuesday, April 30th

Japanese Imperial Transition (Emperor Akihito to abdicate)

1:30am ET           EUR France Q1 GDP q/q

2:00am ET           EUR Germany GFK Consumer Confidence

2:45am ET           EUR France CPI, PPI, and Consumer Spending

5:00am ET           EUR Eurozone Q1 Advance GDP

8:00am ET           EUR Germany CPI m/m

8:30am ET           CAD GDP m/m

9:00am ET           MXN GDP q/q

10:00am ET         USD Consumer Confidence

6:45pm ET           NZD Employment Change

MAY

Wednesday, May 1st

4:30am ET           GBP Manufacturing PMI, Net Consumer Credit, and Mortgage Approvals

8:15am ET           USD ADP Employment Change

9:45am ET           USD Markit Manufacturing PMI

10:00am ET         USD ISM Manufacturing PMI

10:00am ET         USD Construction Spending

10:30am ET         DOE US Crude Oil Inventories

2:00pm ET           USD FOMC Interest Rate Decision

6:45pm ET           NZD Building Permits

9:45pm ET           CNY Caixin China Manufacturing PMI

Thursday, May 2nd

3:15am ET           EUR Spain Manufacturing PMI

3:45am ET           EUR Italy Manufacturing PMI

3:50am ET           EUR France Manufacturing PMI

3:55am ET           EUR Germany Manufacturing PMI

4:00am ET           EUR Eurozone Manufacturing PMI

7:00am ET           GBP BOE Interest Rate Decision

7:00am ET           CZK Czech Central Bank (CNB) Interest Rate Decision

8:30am ET           USD Initial Jobless Claims

10:00am ET         USD Factory and Durable Goods Orders

9:30pm ET           AUD Building Approvals

Friday, May 3rd

3:00am ET           TRY CPI m/m

4:30am ET           GBP Services PMI

5:00am ET           EUR CPI Estimate y/y

8:30am ET           USD Non-Farm Payroll Report, Unemployment Rate and Wage Data

9:45am ET           USD Markit Services PMI

Monday, May 6th

3:00am ET           EUR Spain Unemployment Rate

4:30am ET           EUR Eurozone Sentix Investor Confidence

9:30pm ET           AUD Retail Sales and Trade Balance data

Tuesday, May 7th

12:30am ET         AUD RBA Interest Rate Decision

2:00am ET           EUR Germany Factory Orders m/m

3:30am ET           GBP Halifax House Prices m/m

10:00pm ET        NZD RBNZ Interest Rate Decision

11:00pm ET        NZD Inflation Expectations

11:00PM ET        NZD RBNZ Press Conference

Wednesday, May 8th

CNY Trade Balance

2:00am ET           EUR Germany Industrial Production m/m

2:00am ET           NOK Norway Industrial Production data

7:00am ET           USD MBA Mortgage Applications

10:30am ET         DOE US Crude Oil Inventories

9:30pm ET           CNY CPI y/y

Thursday, May 9th

8:30am ET           USD PPI m/m

8:30am ET           USD Trade Balance m/m

8:30am ET           USD Initial Jobless Claims

9:00am ET           MXN CPI m/m

9:30pm ET           AUD RBA Monetary Policy Statement

Friday May 10th

2:00am ET           EUR Germany Trade Balance

2:00am ET           NOK Norway CPI m/m

2:45am ET           EUR France production data

4:00am ET           EUR Italy production data

4:30am ET           GBP GDP q/q

4:30am ET           GBP Trade and Production data

8:30am ET           USD CPI m/m

8:30am ET           CAD Net Change in Employment

Monday, May 13th

2:00am ET           NOK GDP q/q

3:00am ET           CZK CPI m/m

8:00am ET           INR CPI y/y

Tuesday, May 14th

2:00am ET           EUR Germany CPI y/y

3:00am ET           EUR Spain CPI y/y

3:30am ET           EUR Netherlands Q1 GDP

3:30am ET           SEK CPI y/y

4:30am ET           GBP Jobless Claims Change and ILO Unemployment Rate

4:30am ET           GBP Average Weekly Earnings

5:00am ET           EUR ZEW Germany Current Situation

5:00am ET           EUR ZEW Eurozone Survey Expectations

5:00am ET           EUR Industrial Production m/m

6:00am ET           USD NFIB Small Business Optimism

8:30pm ET           AUD Westpac Consumer Sentiment

10:00pm ET        CNY Industrial Production y/y

10:00pm ET        CNY Fixed Asset Investment ytd y/y

Wednesday, May 15th

2:00am ET           EUR Germany Q1 Preliminary GDP q/q

3:00am ET           CZK Q1 Advance GDP q/q

5:00am ET           EUR Q1 Preliminary GDP q/q

8:30am ET           USD Retail Sales m/m

8:30am ET           CAD CPI m/m

9:15am ET           USD Industrial Production m/m

10:00am ET         USD NAHB Housing Market Index

10:00am ET         USD Business Inventories m/m

10:30am ET         DOE US Crude Oil Inventories

4:00pm ET           USD Net Long-term TIC Flows

7:50pm ET           JPY PPY y/y

9:30pm ET           AUD Employment Change

Thursday, May 16th

EuroGroup Meetings

8:30am ET           USD Philly Fed Manufacturing Index

8:30am ET           USD Building Permits m/m

8:30am ET           USD Initial Jobless Claims

8:30am ET           CAD Manufacturing Sales m/m

2:00pm ET           MXN Banxico Interest Rate Decision

6:30pm ET           NZD Manufacturing PMI

Friday, May 17th

ECOFIN Meetings

5:00am ET           EUR Eurozone Final CPI y/y

10:00am ET         USD University of Michigan Sentiment

10:00am ET         USD Leading Index

Monday, May 20th

12:30am ET         JPY Revised Industrial Production m/m

8:30am ET           USD Chicago Fed National Activity Index

11:00pm ET        NZD Credit Card Spending y/y

Tuesday, May 21st

10:00am ET         USD        Existing Home Sales

10:00am ET         EUR        Eurozone Advance Consumer Confidence

6:45pm ET           NZD       Retail Sales q/q

7:50pm ET           JPY         Trade Balance

Wednesday, May 22nd

4:00am ET           ZAR CPI y/y

4:30am ET           GBP CPI y/y

4:30am ET           GBP Public Finances (PSNCR)

8:30am ET           CAD Retail Sales m/m

10:30am ET         DOE US Crude Oil Inventories

2:00pm ET           USD FOMC Meeting Minutes

7:00pm ET           AUD Flash Manufacturing PMI

8:30pm ET           JPY Flash Manufacturing PMI

Thursday, May 23rd

ZAR South African Central Bank (SARB) Interest Rate Decision

2:00am ET           EUR Germany Final GDP q/q

2:45am ET           EUR France Manufacturing Confidence

3:15am ET           EUR France PMI data

3:30am ET           EUR Germany PMI data

4:00am ET           EUR Germany IFO Business Climate

4:00am ET           EUR Eurozone PMI data

4:30am ET           GBP Retail Sales m/m

8:30am ET           USD Initial Jobless Claims

9:45am ET           USD Markit Manufacturing PMI

10:00am ET         USD New Home Sales

6:45pm ET           NZD Trade Balance

Friday, May 24th

8:30am ET           USD Durable Goods Orders m/m

9:00am ET           MXN Final GDP Q/Q

9:00am ET           MXN Trade Balance

9:00am ET           EUR Belgium Business Confidence

Monday, May 27th

7:50pm ET           JPY PPI Services y/y

Tuesday, May 28th

1:45am ET           CHF Q1 GDP q/q

4:00am ET           EUR Eurozone M3 Money Supply y/y

5:00am ET           EUR Eurozone Confidence data

9:00am ET           USD FHFA House Price Index m/m

10:00am ET         USD CB Consumer Confidence

5:00pm ET           NZD RBNZ Financial Stability Report

Wednesday, May 29th

2:45am ET           EUR France Q1 GDP q/q

2:45am ET           EUR France CPI m/m

3:30am ET           SEK Q1 GDP q/q

10:00am ET         CAD Bank of Canada (BOC) Interest Rate Decision

10:00am ET         USD Richmond Fed Manufacturing Index

1:00pm ET           MXN Banxico Inflation Report

9:00pm ET           NZD ANZ Business Confidence

9:30pm ET           NZD Private Capital Expenditure q/q

Thursday, May 30th

2:00am ET           ZAR M3 Money Supply y/y

8:00am ET           BRL Brazil GDP q/q

8:30am ET           USD Q1 Preliminary GDP Annualized q/q (2nd reading)

8:30am ET           USD Initial Jobless Claims

11:00am ET         DOE US Crude Oil Inventories

7:50pm ET           JPY Preliminary Industrial Production m/m

9:00pm ET           CNY Manufacturing PMI

Friday, May 31st

1:00am ET           JPY Housing Starts y/y

3:00am ET           CZK Preliminary Q1 GDP q/q

4:30am ET           GBP Mortgage Approvals

8:00am ET           EUR Germany CPI m/m

8:00am ET           ZAR Trade Balance

8:30am ET           USD PCE Deflator m/m

8:30am ET           USD Core PCE Price Index

8:30am ET           USD Personal Spending m/m

8:30am ET           CAD GDP m/m

9:45am ET           USD Chicago PMI

10:00am ET         USD Final University of Michigan Sentiment

JUNE

Sunday, June 2nd

9:45pm ET           CNY Caixin Manufacturing PMI

Monday, June 3rd

2:30am ET           CHF CPI m/m

3:15am ET           EUR Spain Manufacturing PMI

3:45am ET           EUR Italy Manufacturing PMI

3:50am ET           EUR France Manufacturing PMI

3:55am ET           EUR Germany Manufacturing PMI

4:00am ET           EUR Eurozone Manufacturing PMI

4:30am ET           GBP Manufacturing PMI

10:00am ET         USD ISM Manufacturing PMI

10:00am ET         USD Construction Spending m/m

9:30pm ET           AUD Retail Sales m/m

Tuesday, June 4th

12:30am ET         AUD RBA Interest Rate Decision

3:00am ET           EUR Spain Unemployment m/m

4:30am ET           GBP Construction PMI

5:00am ET           EUR CPI Flash Estimate y/y

5:30am ET           ZAR GDP Annualized q/q

9:00am ET           MXN Consumer Confidence Index

10:00am ET         USD Factory Orders m/m

10:00am ET         USD Final Durable Goods Orders

9:30pm ET           AUD GDP q/q

9:45pm ET           CNY Caixin Services PMI

Wednesday, June 5th

4:30am ET           GBP Services PMI

5:00am ET           EUR Eurozone PPI m/m

5:00am ET           EUR Eurozone retail sales m/m

8:15am ET           USD ADP Employment Change

9:45am ET           USD Final Markit Services PMI

10:00am ET         USD ISM Non-Manufacturing Index

10:30am ET         DOE US Crude Oil Inventories

1:00pm ET           NZD QV House Prices y/y

9:30pm ET           AUD Trade Balance

9:30pm ET           AUD Building Approvals m/m

Thursday, June 6th

2:00am ET           EUR Germany Factory Orders m/m

7:45am ET           EUR ECB Interest Rate Decision

8:30am ET           USD Trade Balance

8:30am ET           USD Initial Jobless Claims

7:30pm ET           JPY Household Spending y/y

Friday, June 7th

2:00am ET           EUR Germany Industrial Production m/m

2:00am ET           EUR Germany Trade Balance

2:00am ET           NOK Norway Production data

2:45am ET           EUR Industrial Production m/m

3:30am ET           GBP Halifax House Prices m/m

8:30am ET           USD Non-Farm Payroll Report, Unemployment Rate and Wage Data

8:30am ET           CAD Employment Change and Unemployment Rate

9:00am ET           MXN CPI y/y

Sunday, June 9th

7:50pm ET           JPY Final GDP q/q

Monday, June 10th

CNY Trade Balance

4:00am ET           EUR Italy Industrial Production m/m

4:30am ET           GBP Industrial and Manufacturing Production data

4:30am ET           GBP GDP m/m

9:30pm ET           AUD NAB Business Confidence

Tuesday, June 11th

3:00am ET           CZK CPI m/m

4:30am ET           GBP Average Earnings Index 3m/yoy

4:30am ET           GBP Jobless Claims Change

4:30am ET           GBP ILO Unemployment Rate

4:30am ET           EUR Sentix Investor Confidence

6:00am ET           USD NFIB Small Business Optimism

8:30am ET           USD PPI m/m

8:30pm ET           AUD Westpac Consumer Sentiment

9:30pm ET           CNY CPI and PPI y/y

Wednesday, June 12th

7:00am ET           TRY Turkey Central Bank (CBRT) Interest Rate Decision

8:00am ET           INR CPI and Industrial Production data

8:30am ET           USD CPI m/m

10:30am ET         DOE US Crude Oil Inventories

9:30pm ET           AUD Employment Change

Thursday, June 13th

EuroGroup Meetings

00:30am ET         JPY Tertiary Industry Index

2:00am ET           EUR Germany Final CPI m/m

3:30am ET           CHF SNB Monetary Policy Assessment

4:00am ET           EUR Italy Q1 Unemployment Rate

5:00am ET           EUR Eurozone Industrial Production m/m

8:30am ET           USD Initial Jobless Claims

8:30am ET           USD Import Price Index m/m

6:30pm ET           NZD Business Manufacturing Index

10:00pm ET        CNY Fixed Asset Investment ytd/y

10:00pm ET        CNY Industrial Production y/y

Friday, June 14th

00:30am ET         JPY Final Industrial Production

3:30am ET           SEK CPI y/y

8:30am ET           USD Retail Sales m/m

9:15am ET           USD Industrial Production m/m

10:00am ET         USD Preliminary University of Michigan Sentiment

Monday, June 17th

8:30am ET           USD Empire State Manufacturing Index

2:00pm ET           USD TIC Long-Term Purchase

9:30pm ET           AUD RBA Minutes of June Policy Meeting

9:30pm ET           AUD Q1 House Price Index q/q

9:30pm ET           CNY New Home Prices m/m

Tuesday, June 18th

2:00am ET           EUR Germany PPI m/m

3:00am ET           TRY Turkey Industrial Production m/m

5:00am ET           EUR Germany ZEW Current Situation Survey

5:00am ET           EUR Eurozone ZEW Survey Expectations

5:00am ET           EUR Final CPI y/y

8:30am ET           USD Housing Starts & Building Permits

8:30am ET           CAD Manufacturing Sales m/m

7:50pm ET           JPY Trade Balance

Wednesday, June 19th

3:30am ET           SEK Unemployment Rate

4:00am ET           ZAR CPI y/y

4:30am ET           GBP CPI y/y

7:00am ET           USD MBA Mortgage Applications

8:30am ET           CAD CPI y/y

2:00pm ET           USD FOMC Rate Decision

6:45pm ET           NZD Q1 GDP q/q

Thursday, June 20th

JPY BOJ Interest Rate Decision and Press Conference

4:30am ET           GBP Retail Sales m/m

7:00am ET           GBP BOE Interest Rate Decision

8:30am ET           USD Q1 Current Account Balance

8:30am ET           USD Initial Jobless Claims

8:30am ET           USD Philly Fed Manufacturing Index

10:00am ET         USD CB Leading Index m/m

10:00am ET         Eurozone Advance Consumer Confidence

7:30pm ET           JPY National CPI y/y

8:30pm ET           JPY Preliminary Manufacturing PMI

Friday, June 21st

3:15am ET           EUR France PMI data

3:30am ET           EUR Germany PMI data

4:00am ET           EUR Eurozone PMI data

4:30am ET           GBP Public Finances (PSNCR)

8:30am ET           CAD Retail Sales m/m

9:45am ET           USD Markit PMI data

10:00am ET         USD Existing Home Sales

Monday, June 24th

4:00am ET           EUR Germany IFO Business Climate

8:30am ET           USD Chicago Fed National Activity Index

9:00am ET           EUR Belgium Business Confidence

10:30am ET         USD Dallas Fed Manufacturing Activity

7:50pm ET           JPY BOJ Minutes of April Policy Meeting

7:50pm ET           JPY PPI Services y/y

Tuesday, June 25th

2:45am ET           EUR France Manufacturing Confidence

8:00am ET           HUF Hungary Central Bank Interest Rate Decision

9:00am ET           USD FHFA House Price Index m/m

10:00am ET         USD Richmond Fed Manufacturing Index

10:00am ET         USD New Home Sales

10:00am ET         USD Consumer Confidence

10:00pm ET        NZD RBNZ Interest Rate Decision

Wednesday, June 26th

2:45am ET           EUR France Consumer Confidence

7:00am ET           USD MBA Mortgage Applications

7:00am ET           CZK Czech Central Bank (CNB) Interest Rate Decision

8:30am ET           USD Preliminary Durable Goods Orders

10:30am ET         DOE US Crude Oil Inventories

7:50pm ET           JPY Retail sales m/m

9:00pm ET           NZD ANZ Business Confidence

Thursday, June 27th

4:00am ET           EUR Italy Consumer and Manufacturing Confidence data

5:00am ET           EUR Eurozone Business Climate Indicator

8:00am ET           EUR Germany Preliminary CPI m/m

8:30am ET           USD Final GDP Annualized q/q

8:30am ET           USD Initial Jobless Claims

10:00am ET         USD Pending Home Sales m/m

2:00pm ET           MXN Mexico Central Bank (Banxico) Interest Rate Decision

7:30pm ET           JPY Jobless Rate

9:30pm ET           AUD Private Sector Credit m/m

Friday June 28th

2:45am ET           EUR France CPI m/m

3:00am ET           EUR Spain Final Q1 GDP q/q

3:00am ET           CZK Final Q1 GDP q/q

5:00am ET           EUR Eurozone CPI Estimate y/y

8:00am ET           ZAR Trade Balance

8:30am ET           CAD GDP m/m

8:30am ET           USD Personal Income & Spending

8:30am ET           USD PCE Core m/m

9:45am ET           USD Chicago PMI

10:00am ET         USD University of Michigan Sentiment

Saturday, June 29th

9:00pm ET           CNY Manufacturing PMI

Sunday, June 30th

7:50pm ET           JPY Tankan Q2 Large Manufacturing Index

9:45pm ET           CNY Caixin Manufacturing PMI

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Ed Moya

Ed Moya

Contributing Author at OANDA
With more than 20 years’ trading experience, Ed Moya was a Senior Market Analyst with OANDA for the Americas from November 2018 to November 2023. His particular expertise lies across a wide range of asset classes including FX, commodities, fixed income, stocks and cryptocurrencies. Over the course of his career, Ed has worked with some of the leading forex brokerages, research teams and news departments on Wall Street including Global Forex Trading, FX Solutions and Trading Advantage. Prior to OANDA he worked with TradeTheNews.com, where he provided market analysis on economic data and corporate news. Based in New York, Ed is a regular guest on several major financial television networks including CNBC, Bloomberg TV, Yahoo! Finance Live, Fox Business, cheddar news, and CoinDesk TV. His views are trusted by the world’s most respected global newswires including Reuters, Bloomberg and the Associated Press, and he is regularly quoted in leading publications such as MSN, MarketWatch, Forbes, Seeking Alpha, The New York Times and The Wall Street Journal. Ed holds a BA in Economics from Rutgers University.