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.

06:30 JPY Japan Average Cash Earnings y/yAverage Cash Earnings y/y Forecast 3.8%Previous 3.8%

What it is: This measures the change in average total pay for workers in Japan, including bonuses and overtime, compared with a year earlier. It is published by Japan's Ministry of Health, Labour and Welfare.
Why it matters: The Bank of Japan (BoJ) watches wages because sustained pay growth supports inflation and can influence interest rate decisions. The release is usually of medium to high importance for JPY pairs.
Usual market reaction: Prices tend to react to the actual figure compared with the forecast. A higher-than-forecast result usually supports the yen, as markets may see a greater chance of a BoJ rate hike, while a lower one usually weighs on it. The reaction can vary depending on what else is going on in the market.

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.

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.

23:00 JPY BOJ Governor Ueda SpeaksBOJ Gov Ueda Speaks

What it is: Kazuo Ueda, Governor of the Bank of Japan (BOJ), gives a speech or public remarks about the economy and monetary policy.
Why it matters: The governor guides Japan's interest rate policy, so traders watch his words closely. It is usually seen as a high-importance event.
Usual market reaction: Traders usually listen for hints about whether the BOJ may raise interest rates or keep policy loose. If the tone is more hawkish than the market expects, the yen (JPY) often strengthens; if it is more dovish than expected, the yen tends to weaken. Prices can move sharply while he is speaking.

Friday 6 November 2026