Weekly Trading News: March 23–27, 2026
USD: S&P Global Services PMI
March 24, 15:45 MT time
The US S&P Global Services PMI will provide an important signal about the strength of the services sector, which accounts for roughly two-thirds of the American economy. The previous reading stood at 51.7, indicating moderate expansion in business activity.
Market expectations suggest the index may remain near the 52–53 range, reflecting steady but not accelerating growth following the recent Fed’s decisions. Economists note that if the PMI exceeds expectations, it would confirm that the demand and service-sector activity remain resilient despite high interest rates. This outcome could reinforce the view that the US economy is still operating with solid momentum.
However, a weaker reading would suggest that tighter financial conditions are starting to weigh on service businesses, potentially strengthening market expectations for a more cautious monetary policy stance later in 2026.
Affected instruments: EURUSD, GBPUSD, USDJPY, USDCAD, and other USD-pairs
GBP: CPY (YoY)
March 25, 09:00 MT time
The UK’s Consumer Price Index (CPI) remains one of the most critical indicators for assessing inflation pressures and the future direction of the BoE’s policy. The previous annual CPI reading was at 3.0%, reflecting a continued decline from the peak inflation levels seen in previous years.
Market forecasts indicate inflation could edge slightly lower toward the 2.7%–2.8% range, suggesting gradual progress toward the BoE’s 2% inflation target. If inflation comes in stronger, markets may interpret it as a sign that price pressures remain persistent, increasing the likelihood of maintaining restrictive policy for longer.
Conversely, a weaker print would reinforce the narrative that inflation is steadily cooling, potentially opening the door for policy easing later in the year if the trend continues.
Affected instruments: GBPUSD, EURGBP, GBPJPY, and other GBP-pairs
EUR: Germany GfK Consumer Climate
March 26, 09:00 MT time
Germany’s index provides insight into household sentiment and spending intentions in the eurozone’s largest economy. The previous reading was -24.7, highlighting continued weakness in the sector.
Analysts expect a modest improvement toward -22 or -23, reflecting gradual stabilization as inflation pressures ease. If the index improves more than expected, it would suggest that German households are becoming more optimistic about their economic conditions. This could support expectations for stronger consumption in the region.
However, if sentiment remains deeply negative, it would signal that consumers remain cautious, potentially weighing on economic growth across the eurozone and complicating the ECB’s policy outlook.
Affected instruments: EURUSD, EURGBP, EURJPY, and other EUR-pairs.
