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This week’s calendar features several high-impact economic events that could drive volatility across the USD, NZD, and CAD. Traders will be closely watching key data on US services activity, inflation, growth, Canada’s labor market, and the RBNZ’s rate decision, alongside a few notable corporate earnings releases.
Monday 17:00 (GMT+3) – USA: ISM Services PMI (USD)
Wednesday 05:00 am (GMT+3) – New Zealand: Official Cash Rate (NZD)
Thursday 15:30 (GMT+3) – USA: Core PCE Price Index m/m (USD)
Thursday 15:30 (GMT3) – USA: Final GDP q/q (USD)
Friday 15:30 (GMT+3) – Canada: Employment Change (CAD)
Friday 15:30 (GMT+3) – USA: CPI m/m (USD)
The ISM Services PMI measures activity in the US service sector for the reporting month. It is derived from a survey of supply executives in the services sector. Readings above 50 can have a positive effect on US dollar quotes.
In February, the US services sector gained momentum, with the ISM Services PMI rising to 56.1%, its highest level since July 2022 and the 20th straight month of expansion. Business activity, new orders, and employment all strengthened, while inventories, backlogs, exports, and imports also moved higher, pointing to broad-based growth.
Economists expect the ISM Services PMI to ease to 54.8 in the upcoming release.
The Reserve Bank of New Zealand (RBNZ) reviews its interest rate policy every six weeks, setting the rate at which loans are provided to commercial banks. This rate is a key instrument of the RBNZ’s monetary policy, aimed at managing the strength of the New Zealand dollar (NZD). A rate increase typically strengthens the NZD by attracting foreign capital and boosting demand for the currency. Consequently, market participants closely monitor changes in the interest rate to determine their potential impact on NZD performance.
In February, New Zealand’s central bank kept the OCR unchanged at 2.25%, saying inflation is expected to return within the 1–3% target band soon and move toward the 2% midpoint over the next year. The economy is recovering gradually, with growth broadening across sectors, while monetary policy is likely to remain accommodative for some time.
Economists anticipate that the RBNZ will leave the OCR unchanged in the upcoming release.
Personal Consumption Expenditures (PCE) measure the value of goods and services consumed by individuals and households. It’s a key indicator of consumer spending, which accounts for a large portion of economic activity in the US. The PCE is often used to track inflation trends, as it includes data on prices paid by consumers. The Federal Reserve uses the PCE price index as its preferred measure of inflation to guide monetary policy decisions, aiming to maintain price stability in the economy.
In January, U.S. personal income rose 0.4%, while disposable personal income increased 0.9% and personal consumption expenditures climbed 0.4%, pointing to steady income growth and continued consumer spending at the start of 2026.The report was published later than planned, after being rescheduled from February 26, 2026, due to the US government shutdown.
Economists expect the next release to show broadly similar trends.
The Gross Domestic Product q/q (GDP) represents the valuation of all goods and services produced in the United States in the current quarter compared to the previous one. GDP growth may have a positive effect on US dollar quotes.
Although these are quarterly figures, they are presented in an annualized form (quarterly change multiplied by four). GDP is published in three stages—Advance, Preliminary, and Final. The Advance release comes first and typically has the strongest market impact.
In the fourth quarter of 2025, US real GDP grew at an annualized rate of 0.7%, slowing sharply from 4.4% in the third quarter. Growth was driven by consumer spending and investment, but partly offset by declines in government spending and exports, while the second estimate was revised down from the initial reading. Release date delayed by 13 days due to the US government shutdown.
Economists expect the final GDP to remain at 0.7% in the upcoming release.
Canada’s Employment Change shows a change in the number of officially employed Canadians in the reported month.
The indicator is used when measuring Canada’s labor market. The indicator growth can have a positive effect on CAD quotes.
In February, employment fell by 84,000, following a smaller decline in January, partially reversing gains seen in late 2025. The employment rate also slipped to 60.6%, marking a second straight monthly decline and leaving overall employment little changed from a year earlier.
Economists expect Canada’s Employment Change to show a gain of 12,600 jobs in the next release.
The Consumer Price Index (CPI) measures the change in prices paid by consumers for a basket of goods and services, reflecting the spending patterns of urban consumers and wage earners. It includes indexes like CPI-U for all urban consumers and CPI-W for urban wage earners, covering over 90% of the US population. CPI tracks inflation by comparing current prices to a reference base period.
In February, US consumer prices rose 0.3% month over month, while annual inflation held steady at 2.4%. Shelter was the biggest driver of the monthly increase, with food and energy also rising, while core inflation remained unchanged at 2.5% year over year.
Analysts expect headline CPI to rise by about 1.0% month over month in the next release.
Tuesday, April 7: LEVI (Levi Strauss & Co.)
Wednesday, April 8: DAL (Delta Air Lines, Inc.)
Wednesday, April 8: STZ (Constellation Brands, Inc.)
Overall, this week’s releases could set the tone for major currency moves, especially for the US dollar, New Zealand dollar, and Canadian dollar. With inflation, growth, central bank policy, and labor market data all in focus, traders should be prepared for elevated volatility and shifting market expectations.