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U.S. ISM services, Fed minutes and ECB accounts key for FX this week

The week’s main U.S. catalyst is Monday’s ISM services PMI, expected at 55.1 for September, with focus on new orders, employment, and prices paid.

Reported · Written up by our desk · Central Banks

The coming week’s economic calendar is lighter than usual, but several events are expected to move currencies and yields, with the biggest highlights including a U.S. ISM services release, Federal Reserve minutes, and European Central Bank monetary policy accounts, according to Forexlive.

The first major driver is Monday’s U.S. ISM services PMI for September, forecast at 55.1 versus 55.4 previously. Forexlive notes that traders will look beyond the headline toward details such as new orders, employment, and prices paid.

On Wednesday, investors will track Fed minutes, while Thursday brings ECB monetary policy accounts that could influence rate expectations. By Friday, the calendar includes Canadian employment alongside U.S. consumer sentiment, another potential volatility source for FX traders.

Forexlive says the key question for FX markets is whether incoming data point to growth holding up while price pressures remain elevated, or whether weakening momentum changes the policy outlook. The ISM services reading above 50 would signal continued expansion, the outlet adds.

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