Economic calendar: US Services ISM and JOLTS report in focus

Today’s economic calendar will be focused on US data—job openings (JOLTS), which will provide a more precise view of labor market dynamics in March, and, most importantly, the ISM Services report, where the market expects a slight month-over-month decline alongside a still very elevated prices component.

Economic Calendar

5:30 AM GMT – RBA Cash Rate & Statement – interest rate: 4.35% (forecast: 4.35%, previous: 4.10%). The decision was in line with expectations; markets are now analyzing the statement for signals on further tightening and the inflation outlook.
7:30 AM GMT – Switzerland CPI YoY – forecast: 0.6% y/y, previous: 0.3%. Inflation is expected to accelerate, though it remains low compared to global peers.
7:30 AM GMT – Switzerland CPI MoM – forecast: 0.3% m/m, previous: 0.2%. Indicates a modest rebound in short-term price pressures.
7:30 AM GMT – Switzerland Core CPI YoY – forecast: 0.5% y/y, previous: 0.4%. Core inflation remains moderate, limiting pressure on the SNB.
7:45 AM GMT – France Budget Balance – previous: -€32.12B. No forecast available; important for assessing fiscal stability in the euro area.
1:30 PM GMT - US Trade Balance – forecast: -$69.5B, previous: -$57.3B. A wider deficit could weigh on the USD.
1:30 PM GMT – Canada Trade Balance – forecast: -C$2.5B, previous: -C$5.74B. Expected improvement may support the Canadian dollar.
1:55 PM GMT – US Redbook YoY – previous: 7.7%. A gauge of real-time consumer activity in the US.
2:45 PM GMT  – US S&P Services PMI Final – forecast: 51.3, previous: 51.3. Indicates stabilization in the services sector.
2:45 PM GMT – US S&P Composite PMI Final – forecast: 52.1, previous: 52.0. Slight improvement in overall economic activity.
3 PM GMT – US JOLTS Job Openings – forecast: 6.85M, previous: 6.882M. Reflects stable labor demand; a key indicator for the Fed.
3 PM GMT – US ISM Services PMI – forecast: 53.7, previous: 54.0. A modest decline expected, but the sector remains in expansion territory.
3 PM GMT – US New Home Sales – forecast: 0.652M, previous: 0.587M. Expected rebound in housing demand.
3 PM GMT – US New Home Sales MoM – forecast: 3.0%, previous: -17.6%. Strong recovery following a sharp prior decline.
3 PM GMT – US ISM Services Prices Paid – previous: 70.7. Elevated levels signal persistent inflationary pressure.
3 PM GMT – US ISM Services Employment – previous: 45.2. Below 50, indicating contraction in services employment.
3 PM GMT – US ISM Services New Orders – previous: 60.6. Strong demand component supporting the services sector.

Central Bank Speakers

6:30 AM GMT  – RBA Press Conference (ongoing)
9 AM GMT – ECB’s Panetta
3 PM GMT – Fed’s Bowman
4:40 PM GMT – ECB’s Lane
5:30 PM GMT  – Fed’s Barr

Earnings Releases

11:45 AM GMT  – Pfizer Q1 2026
12 PM GMT  – PayPal Q1 2026
9:15 PM GMT - AMD Q1 2026
9:50 PM GMT - Super Micro Fiscal Q3 2026

EURUSD Chart (D1)

Source: xStation5