Economic calendar

00:45 EUR Bundesbank President Nagel SpeaksGerman Buba President Nagel Speaks

What it is: Joachim Nagel, president of Germany's central bank (the Bundesbank), speaks publicly. He is also a member of the ECB Governing Council, which sets interest rate policy for the eurozone.
Why it matters: Traders listen for hints about the future direction of ECB interest rates. The importance depends on what is said, and it is often greater when an ECB meeting is near.
Usual market reaction: Hawkish comments, such as worry about inflation or support for keeping rates high, tend to support the euro. Dovish comments, such as openness to rate cuts, tend to weigh on it. Markets often care more about a change in tone than about repeated views.

01:00 EUR ECB President Lagarde Speaks

What it is: Christine Lagarde, President of the European Central Bank (ECB), gives a speech or answers questions at an event, usually discussing the eurozone economy and monetary policy.
Why it matters: The ECB sets eurozone interest rates, so the President's words are often watched closely, especially for fresh hints about the direction of rates.
Usual market reaction: Traders usually listen for her view on inflation and growth and for any hint about whether rates may be raised, held or cut. A hawkish tone often supports the euro, while a dovish tone tends to weigh on it. Prices usually react to how the message differs from what the market already expected, and if nothing new is said the move may be small.

04:00 CAD Canada Annual Budget ReleaseAnnual Budget Release

What it is: Canada's federal government, through the Department of Finance, presents its plans for revenue, spending, the deficit and borrowing for the fiscal year.
Why it matters: The budget shows the direction of fiscal policy, such as spending levels and government debt, which can affect economic growth and confidence in the Canadian dollar. Its importance is usually moderate and depends on whether it contains surprises.
Usual market reaction: Markets usually compare the actual numbers, such as the size of the deficit and borrowing plans, with what analysts expected. If the plan looks more disciplined or more growth-friendly than expected, the Canadian dollar (CAD) often gets support, while a much larger deficit or borrowing need than expected can weigh on it. The budget can also influence bond yields and interest-rate expectations, but reactions tend to be modest without surprises.

14:00 EUR German Industrial Production m/m Forecast 0.0%Previous 2.0%

What it is: This measures the monthly change in output from Germany's factories, energy producers and other industry compared with the previous month. It is published by Germany's federal statistics office, Destatis.
Why it matters: Germany is the largest economy in the eurozone and relies heavily on manufacturing, so this figure helps show the health of both the German and eurozone economies. It is usually of medium importance.
Usual market reaction: Prices tend to react to the actual figure compared with the forecast. A higher-than-forecast result usually supports the euro and may help German stocks, while a lower one usually weighs on the euro. The figure often swings from month to month, so the reaction is not always strong.

14:45 EUR French Trade Balance Forecast -5.8BPrevious -6.1B

What it is: This is the monthly gap between the value of France's exports and imports of goods, published by French customs. Exports above imports give a surplus, while the reverse gives a deficit.
Why it matters: The trade balance shows foreign demand for French goods and how competitive they are. Markets usually give it fairly low weight compared with eurozone inflation or jobs data.
Usual market reaction: Prices tend to react to the actual figure compared with the forecast. A better-than-forecast balance, such as a smaller deficit, usually gives the euro slight support, while a worse result tends to weigh on it slightly. The effect is generally limited.

15:00 CHF Swiss Foreign Currency ReservesForeign Currency Reserves Previous 770B

What it is: A monthly figure published by the Swiss National Bank (SNB) showing the value of foreign currency assets it holds.
Why it matters: Traders watch it for clues on whether the SNB may be intervening in the currency market to limit the Swiss franc's strength. It usually has a fairly small market impact.
Usual market reaction: Markets tend to compare the actual figure with the forecast. Reserves higher than forecast may suggest the SNB bought more foreign currency to hold back the franc, which can slightly weigh on CHF, while a lower figure may be read the opposite way. However, the number is also affected by changes in asset values, so the signal is often unclear.

15:00 CHF SECO Consumer Climate Forecast -35Previous -36

What it is: A quarterly survey by Switzerland's State Secretariat for Economic Affairs (SECO) asking households about the economy, their own finances and job security.
Why it matters: Consumer confidence gives a clue about whether people may spend more or less, which affects economic growth. It is usually seen as a low-to-medium importance release.
Usual market reaction: Markets tend to compare the actual reading with the forecast. A higher-than-forecast reading, showing more optimism, usually supports CHF slightly, while a lower one tends to weigh on the franc. The reaction is often modest.

17:00 EUR Eurozone Retail Sales m/mRetail Sales m/m Forecast -0.1%Previous 0.1%

What it is: A figure published by Eurostat, the EU's statistics office, showing the month-on-month change in the volume of retail sales across the eurozone.
Why it matters: Consumer spending is a big part of the economy, so this release helps gauge economic health. It usually has a medium level of importance for EUR.
Usual market reaction: Markets tend to compare the actual figure with the forecast. Retail sales higher than forecast usually support the euro because they suggest stronger spending, while a lower figure tends to weigh on it. The reaction can be larger if the data changes expectations about ECB interest rates.

18:00 CHF SNB Governing Board Member Tschudin SpeaksGov Board Member Tschudin Speaks

What it is: A speech or interview by Petra Tschudin, a member of the Governing Board of the Swiss National Bank (SNB).
Why it matters: Comments from policymakers can hint at the direction of interest rates and the central bank's view on the Swiss franc. The importance is usually low to medium unless she signals something different from market expectations.
Usual market reaction: Traders usually listen for remarks on inflation, interest rates or the strength of the franc. Prices tend to react to her tone compared with what the market already expects. If she sounds more hawkish than expected, CHF often gains support, while a more dovish tone may weigh on it. Often there is nothing new and the reaction can be small.

20:30 CAD Canada Employment ChangeEmployment Change Forecast 14.6KPrevious -68.3K

What it is: This shows how many more or fewer people in Canada had a job in the previous month. It is published by Statistics Canada as part of its Labour Force Survey.
Why it matters: Employment reflects the strength of the Canadian economy and is one of the factors the Bank of Canada considers when setting interest rates, so it is an important release for the Canadian dollar.
Usual market reaction: Prices usually react to the actual figure compared with the forecast. A higher-than-forecast job gain tends to support the Canadian dollar, as it suggests a healthy economy, while a lower-than-forecast or negative result often weighs on it. USD/CAD can be especially volatile when this is released alongside US jobs data.

20:30 CAD Canada Unemployment RateUnemployment Rate Forecast 6.5%Previous 6.5%

What it is: The unemployment rate is the share of people in the labour force who are without a job and looking for work. It is published monthly by Statistics Canada.
Why it matters: It is a key gauge of the Canadian job market and one of the inputs the Bank of Canada looks at when considering interest rates. It is usually released together with the employment change figure.
Usual market reaction: Prices usually react to the actual figure compared with the forecast. Unlike job-growth data, a lower-than-forecast unemployment rate tends to support the Canadian dollar because it points to a strong job market, while a higher-than-forecast rate often weighs on it. The reaction often also depends on the employment figure released at the same time.

22:00 CAD Ivey PMI (Canada)Ivey PMI Forecast 57.7Previous 58.2

What it is: The Ivey Purchasing Managers Index (PMI) is published by the Ivey Business School and is based on a survey of purchasing managers across Canada about business activity.
Why it matters: Purchasing managers often see changes in demand early, so the index gives a timely read on the health of the Canadian economy. A reading above 50 usually signals expansion and below 50 contraction. Its importance is usually moderate.
Usual market reaction: Markets usually compare the actual reading with the forecast. A higher-than-forecast result tends to support the Canadian dollar (CAD) because it points to a stronger economy, while a lower-than-forecast result often weighs on it. Moves are usually smaller than for major data such as jobs figures or Bank of Canada rate decisions.

Friday 6 November 2026