The Week Ahead in Forex: August 23 to August 28, 2026
The week ahead, from August 23 to August 28, 2026, is marked by several high-impact economic data releases, particularly focusing on inflation and growth figures from major economies. Gold has seen a notable gain of +5.20% since the reference point, while the JP225, USTEC, and US500 indices have all experienced pullbacks. The risk meter stands at +0.17, indicating a slightly risk-on sentiment.
Tuesday will see the release of the CB Consumer Confidence Index (USD) at 14:00 UTC, with a consensus of 91.8 following a previous reading of 90.8. Later, at 22:45 UTC, New Zealand’s Employment Change q/q (NZD) data is scheduled. The New Zealand Dollar has shown strength, gaining +1.49% since the reference point and +0.42% in the last 24 hours. CFTC data indicates non-commercial net positions in EUR are short at -59.1K.
Wednesday is a busy day for economic releases, starting with Australia’s inflation data at 01:30 UTC, including CPI q/q, Trimmed Mean CPI m/m with a consensus of 0.3%, and the Monthly CPI Indicator y/y with a consensus of 3.3%. The US follows at 12:30 UTC with several high-impact reports, including GDP Sales q/q, Core PCE Price Index y/y with a consensus of 3.3%, and US GDP q/q with a consensus of 1.5%. Later, at 14:30 UTC, EIA Crude Oil Stocks Change (USD) will be released, with a consensus of 5.39M. CFTC non-commercial net positions show significant long interest in Crude Oil at 122.1K.
Towards the end of the week, Thursday at 23:30 UTC brings Japan’s Tokyo CPI excl. Food and Energy y/y (JPY), with a consensus of 2%. On Friday, the Eurozone’s Consumer Price Expectations (EUR) are due at 09:00 UTC, with a consensus of 24.4. Canada’s GDP m/m (CAD) will be released at 12:30 UTC, with a consensus of 0.2%.
Positioning shifts are also notable, with the crowd flipping on XAUUSD from 53% short to 54% long in 24 hours, coinciding with Gold’s recent rally. The crowd also flipped on USDJPY, moving from 51% long to 56% short. Retail books show significant disagreement on NZDUSD by 38 points and on GBPJPY by 25 points. CFTC non-commercial net positions for Gold are significantly long at 222.2K.
Traders may observe how these economic indicators influence market sentiment and currency valuations throughout the week.
| At a glance | |
|---|---|
| Biggest moves since last week’s open | XAUUSD +5.20%, JP225 -3.97%, USTEC -2.51% |
| Currency strength, 24h | AUD strongest at +0.69%, CHF weakest at -0.34% |
| Risk meter | +0.17 (mildly risk-on) |
Scheduled this week (High and Medium impact)
| Time | Ccy | Event | Impact | Consensus |
|---|---|---|---|---|
| Tue 14:00 UTC | USD | CB Consumer Confidence Index | High | 91.8 |
| Tue 22:45 UTC | NZD | New Zealand Employment Change q/q | High | – |
| Wed 01:30 UTC | AUD | Australia CPI q/q | High | – |
| Wed 01:30 UTC | AUD | Trimmed Mean CPI m/m | High | 0.3% |
| Wed 01:30 UTC | AUD | CPI m/m | High | 0.9% |
| Wed 01:30 UTC | AUD | Australia Monthly CPI Indicator y/y | High | 3.3% |
| Wed 12:30 UTC | USD | GDP Sales q/q | High | 2.2% |
| Wed 12:30 UTC | USD | Core PCE Price Index y/y | High | 3.3% |
| Wed 12:30 UTC | USD | US Core PCE Price Index m/m | High | 0.2% |
| Wed 12:30 UTC | USD | US GDP q/q | High | 1.5% |
| Wed 14:30 UTC | USD | EIA Crude Oil Stocks Change | High | 5.39M |
| Thu 23:30 UTC | JPY | Tokyo CPI excl. Food and Energy y/y | High | 2% |
| Fri 09:00 UTC | EUR | Consumer Price Expectations | High | 24.4 |
| Fri 12:30 UTC | CAD | Canada GDP m/m | High | 0.2% |
Times are UTC. This brief describes measured market state and the published schedule. It is not financial advice and nothing in it is a trade recommendation.