Forex Traders Alert: Data Driving Market Volatility This Week

The upcoming trading week is set to be one of the most volatile on the forex calendar, with major economic releases lined up across Australia, the United States, and the UK. From central bank decisions to inflation and employment reports, traders should expect significant market movement — especially in AUD, USD, and GBP pairs. Here’s your complete breakdown of what to watch this week.

On Tuesday, August 12, Australia takes the spotlight early in the week with a triple release from the Reserve Bank of Australia (RBA): the Cash Rate Decision, Monetary Policy Statement, and the Press Conference. This combination is likely to cause heightened volatility in the AUD/USD pair. Any dovish tone or rate cut could pressure the Australian dollar, while a hawkish surprise might cause a temporary spike.

In the U.S., all eyes are on inflation data specifically, Core CPI, monthly CPI, and yearly CPI. These reports are crucial for understanding whether the Federal Reserve will continue its tightening path. A stronger-than-expected print could strengthen the U.S. dollar, while a soft CPI may raise rate cut expectations, weakening USD across major pairs.

On Wednesday, August 13, traders should turn their attention back to Australia as the Wage Price Index (q/q) is released. This data point directly ties into inflation concerns. Rising wages could support the Aussie dollar, while disappointing figures might push it lower. For traders looking at AUD crosses, this is a key metric to watch.

On Thursday, August 14 is stacked with releases from Australia, the UK, and the U.S., making it one of the most high-impact trading days of the week.

Australia drops its Employment Change and Unemployment Rate, both critical indicators of economic strength. A strong jobs report may support a bullish AUD, while weakness could trigger downside pressure.

The UK releases its monthly GDP, an essential figure for assessing post-BoE economic resilience. This could impact the GBP/USD significantly depending on whether growth beats or misses expectations.

In the U.S., traders will be watching both PPI and Unemployment Claims, which together will paint a clearer picture of inflationary pressures and labor market strength. Expect movement in USD pairs like EUR/USD and USD/JPY.

On Friday, August 15 the week wraps up with key U.S. economic indicators: Retail Sales (m/m) and the University of Michigan Consumer Sentiment (Prelim) report. Retail Sales reflect consumer demand, a major driver of U.S. GDP. Strong data could reinforce USD strength, while weak results may trigger a bearish response.

Consumer sentiment, especially when released ahead of the Fed’s Jackson Hole Symposium later this month, can influence expectations around interest rate policy and broader risk sentiment.

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