This week for FX: major central bank policy activity and speeches plus key macro prints across Japan, Australia, Europe and the US dominate the schedule. Market attention centers on central bank communications (policy decisions, minutes, and high-profile speeches), activity/price prints from large economies, and several sentiment indicators that could shift positioning ahead of year-end. Expect volatility around central bank announcements and any surprise in labour or inflation-sensitive data.
📅 Monday, 8 December 2025
Europe / Eurozone
- German Industrial Production (m/m) — monthly production data for Germany (manufacturing output influences EUR flows).
- Italy — national bank holiday (market liquidity considerations in EUR session).
- Eurozone investor sentiment (Sentix) — monthly confidence survey release.
Japan
- Final GDP (q/q and annualized) — revised Q3 GDP release (watch revisions to growth and price deflators).
- GDP deflator (y/y) — price measure used to gauge domestic inflation trends.
- Current account — balance of trade / incomes (large swings can influence JPY).
- Labor cash earnings (y/y) — wage growth gauge (important input for BoJ stance).
- Eco-Watchers survey (sentiment) — near-term business sentiment measure.
China
- Trade Balance (USD & local) — monthly exports/imports and USD-denominated surplus (impact on AUD, NZD, Asian FX).
- M2 money supply / New loans (tentative) — liquidity and credit flow indicators.
Switzerland
- SECO Consumer Climate — confidence indicator that can move CHF in thin markets.
Other
Bank lending / money stock updates for select economies (watch bank lending growth for risk sentiment).
📅 Tuesday, 9 December 2025
JAustralia
- RBA Cash Rate decision & Rate Statement — central bank policy decision and accompanying statement (major AUD mover).
- RBA press commentary / governor or board speeches (timing tied to decision).
- NAB Business Confidence / Business Conditions (monthly survey).
United Kingdom
- MPC member speeches (scheduled appearances by voting members) — verbal guidance that can influence GBP.
- Retail sales/sector confidence updates (BRC monitor or retail prints).
Japan
- M2 Money Stock (y/y) — broader liquidity measure.
- Bank lending figures — credit growth data.
New Zealand
- RBNZ Governor speech / commentary (market sensitivity to official remarks).
United States
Weekly API / Energy inventories (API weekly statistical bulletin) — commodity-related data that can feed USD/cross moves via risk appetite.
📅 Wednesday, 10 December2025
United States
- Federal Reserve policy meeting conclusion / FOMC statement and press conference (one of the week’s highest-impact events). Expect policy guidance, path for rates, and commentary on labour/inflation balance.
- JOLTS Job Openings (monthly) — labour market breadth indicator that influences Fed stance and USD sentiment.
Europe
- ECB / ECB-adjacent speeches at regional events (watch any commentary affecting expectations for next year).
- Eurozone sector or industrial prints (depending on calendar updates).
Australia / Asia
- Follow-through commentary from RBA (if any) and Asia-Pacific data releases that reflect trade and industrial activity.
Risk note: Mid-week central bank output (Fed) typically drives liquidity and cross-asset repricing; position sizing and stop logic often adjusted ahead of the announcement.
📅 Thursday, 11 December 2025
EuUnited Kingdom / Europe
- UK business or retail surveys (BRC or similar) and scheduled speeches from policy makers.
- German / Eurozone industrial or production revisions (if any).
Japan
- Monthly labour / wage related micro-prints (cash earnings updates) — continued focus on wage-inflation nexus.
United States
- Secondary labour or price-sensitive releases (watch for revisions to earlier prints and housing or consumer sentiment data that can alter the USD reaction function).
Global
Central banker appearances across forums — follow any directional change in tone (hawkish/dovish tilt).
📅Friday, 12 December 2025
U.S.United States
- Housing starts / building permits or regional manufacturing surveys (timely indicators for growth momentum heading into next quarter).
- Final prints or revisions for earlier US data releases (analysts close the week by revising expectations).
Eurozone / UK
- Final sentiment or flash business surveys if scheduled; market reaction often muted but can matter in low-volume sessions.
Japan / Asia
- Any catch-up monthly data (trade or lending) and central bank commentary wrap-ups ahead of weekend.
Week wrap / positioning
Week-end flows, fund rebalancing and liquidity thinning can exaggerate moves — monitor order book depth and cross-currency spreads.
- Sort events by market impact in your platform (high / medium / low) and mark central bank decisions and major labour/inflation prints as high impact.
- Note local market holidays (e.g., Italy on Dec 8) because they reduce liquidity in EUR sessions.
- Watch for clustered events: when central bank decisions coincide with major data prints, prefer smaller position sizes or wait for the initial volatility to settle.
- Keep an eye on revisions (final GDP, deflators, revised employment data) — revisions can change policy expectations even if headline prints are already out.
- Use the schedule to plan risk windows (before / during / after major announcements) and to set alerts for the highest-impact items (policy decisions, Fed press conference, RBA decision, major GDP revisions).
