Economic calendar

04:30 USD API Weekly Statistical Bulletin (US crude oil stocks)API Weekly Statistical Bulletin

What it is: A weekly report from the American Petroleum Institute (API) showing changes in US stocks of crude oil, gasoline and distillates. It usually comes out after the market close on Tuesday.
Why it matters: Traders see it as an early hint before the official EIA report that follows. Its importance for the USD is usually low to moderate, but the oil market pays fairly close attention.
Usual market reaction: Markets react to the actual figure compared with the forecast. A bigger-than-expected fall in stocks is often read as strong demand or tight supply and tends to support oil prices, while a bigger-than-expected build tends to weigh on oil. The effect on the USD and gold is usually limited, but oil-linked currencies such as the CAD may move with oil prices.

04:45 NZD NZ Unemployment RateUnemployment Rate Forecast 5.5%Previous 5.6%

What it is: The share of people actively looking for work compared with New Zealand's total labour force, published quarterly by Stats NZ.
Why it matters: It is a key job-market gauge that the RBNZ considers when deciding on interest rates, so it is usually an important release for the NZD.
Usual market reaction: Prices react to the actual figure compared with the forecast. Here a lower number means a stronger job market, so a lower-than-forecast rate usually supports the NZD, while a higher-than-forecast rate tends to weigh on it. This is because the market may then expect the RBNZ to ease policy more.

04:45 NZD NZ Employment Change (q/q)Employment Change q/q Forecast 0.4%Previous 0.5%

What it is: The quarterly change in the number of employed people in New Zealand, published by Stats NZ.
Why it matters: The job market shows how healthy the economy is and affects inflation pressure, which the Reserve Bank of New Zealand (RBNZ) weighs when setting interest rates. It is usually an important release for the NZD.
Usual market reaction: Prices react to the actual figure compared with the forecast. A higher-than-forecast result usually supports the New Zealand dollar, as it may suggest the RBNZ is in less of a hurry to cut rates. A lower-than-forecast result tends to weigh on the NZD.

04:45 NZD Labour Cost Index (QoQ) – New ZealandLabor Cost Index q/q Forecast 0.5%Previous 0.7%

What it is: A quarterly release from Stats NZ that measures changes in the salaries and wages employers pay for the same work.
Why it matters: Rising wages can feed into inflation, so the Reserve Bank of New Zealand (RBNZ) follows it closely. Its importance is usually moderate.
Usual market reaction: Markets look at the actual figure compared with the forecast. A higher-than-forecast result may point to inflation pressure and suggest the RBNZ could keep interest rates high for longer, which usually supports the NZD. A lower-than-forecast result tends to weigh on the NZD.

07:00 NZD ANZ Commodity Prices (MoM) – New ZealandANZ Commodity Prices m/m Previous 0.6%

What it is: A monthly index from ANZ Bank that tracks changes in the prices of New Zealand's main export commodities, such as dairy, meat and forestry products.
Why it matters: New Zealand relies heavily on farm and commodity export income, so price changes reflect the country's earnings. Its importance is usually low to moderate.
Usual market reaction: Markets look at the actual figure compared with the forecast. A larger-than-expected rise in commodity prices tends to support the NZD because export income may improve, while a fall or a weaker-than-expected result tends to weigh on it. The reaction is usually modest.

08:45 CNY RatingDog Services PMI (China)RatingDog Services PMI Forecast 51.7Previous 51.6

What it is: This is a survey-based index of activity in China's private services sector, compiled by S&P Global (previously known as the Caixin PMI).
Why it matters: A reading above 50 indicates the services sector is expanding, and below 50 indicates contraction. Traders use it to gauge China's economy, which affects global sentiment. It is usually a medium-impact release.
Usual market reaction: Markets compare the actual figure with the forecast. A PMI higher than forecast usually supports the yuan (CNY) and China-sensitive assets such as the Australian dollar, while a lower reading tends to weigh on them. The effect on gold and Asian stock indices often follows overall risk sentiment.

20:15 USD ADP Non-Farm Employment Change Forecast 67KPrevious 90K

What it is: A report on the monthly change in US private-sector jobs (excluding farms), published by the payroll company ADP based on its client payroll data.
Why it matters: It usually comes out before the official NFP report, so traders use it as a hint about the US labor market. Its record at predicting NFP is mixed, so its importance is usually moderate.
Usual market reaction: Prices react to the actual figure compared with the forecast. A higher-than-forecast result usually supports the US dollar (USD) because it suggests a stronger economy, while a lower one tends to weigh on it. Gold often moves opposite to the dollar, so it may soften when the dollar firms and rise when the dollar weakens.

20:30 USD US Trade BalanceTrade Balance Forecast -107.9BPrevious -105.6B

What it is: The difference between the value of US exports and imports of goods and services, published by the US Census Bureau and the Bureau of Economic Analysis (BEA).
Why it matters: It shows foreign demand for US products and the demand for dollars needed to pay for them. Its impact is usually modest compared with key releases such as CPI or NFP.
Usual market reaction: Prices react to the actual figure compared with the forecast. A smaller-than-forecast deficit (a better number) usually supports the US dollar (USD), while a larger deficit tends to weigh on it. The effect on gold is often small, and gold generally moves opposite to the dollar.

21:45 USD US Final Services PMIFinal Services PMI Forecast 57.9Previous 57.9

What it is: A survey-based index of activity in the US services sector, compiled by S&P Global from responses by purchasing managers. The final reading revises the earlier flash estimate, and a value above 50 usually signals expansion.
Why it matters: Services make up most of the US economy, so traders use this to gauge economic momentum. The final figure is often close to the flash estimate, so its impact is usually moderate.
Usual market reaction: Markets react to the actual figure compared with the forecast. A higher-than-forecast result tends to support the US dollar, as it suggests a stronger economy and possibly rates staying higher for longer, while a lower result often weighs on it. Gold often moves in the opposite direction to the dollar, though other factors matter too.

22:00 USD ISM Services PMI (US)ISM Services PMI Forecast 54.8Previous 54.9

What it is: This is a survey of purchasing managers in the US services sector, produced by the Institute for Supply Management (ISM). A reading above 50 suggests the services sector is expanding, while below 50 suggests it is contracting.
Why it matters: Services make up most of the US economy, so this report helps show the economy's direction and price pressures. It is usually seen as a high to medium importance release.
Usual market reaction: Prices tend to react to the actual figure compared with the forecast. A higher-than-forecast reading often supports the US dollar, since it points to a firmer economy and may make Fed rate cuts less likely soon, while a lower reading usually weighs on the dollar. Gold often moves in the opposite direction to the dollar in the short term, and stock indices can react differently depending on how the data changes interest rate expectations.

22:30 USD US Crude Oil InventoriesCrude Oil Inventories Forecast -0.1MPrevious -1.9M

What it is: A weekly report from the US Energy Information Administration (EIA) showing the change in the amount of commercial crude oil stored in the US compared with the previous week.
Why it matters: It gives a snapshot of US oil supply and demand, and the US is one of the world's largest oil consumers and producers, so oil traders watch it closely. Its direct effect on currencies is usually smaller than major economic data.
Usual market reaction: Oil prices often react to the actual figure compared with the forecast. A larger-than-expected build (more supply) tends to weigh on oil prices, while a larger-than-expected draw usually supports them. The effect on the US dollar is typically indirect and modest, though oil prices can influence inflation expectations and oil-linked currencies.

Wednesday 4 November 2026Today