Key FX Dates in February 2025

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Monthly FX insights for February

Week 1: 03/02/25 - 07/02/25

We start the month waiting to see if President Trump has indeed imposed 25% tariffs on Mexico and Canada, as alluded to after his inauguration. If so, then we would expect the dollar to start the month on the front foot, ahead of key job numbers across this week, culminating in nonfarm payrolls on Friday. An improvement in the job market will likely lead to easing of rate cut bets and once again add to further dollar strength.

This week's other key event is closer to home on Thursday, with the Bank of England (BoE) expected to cut rates by 0.25%, which is largely priced in. But what could be market moving, is whether the BoE signals concerns about the economy. A downgrade on the growth outlook will prompt traders to price in more rate cuts than currently projected and we will likely see a weaker pound as a result.

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Week 2: 10/02/25 - 14/02/25

US inflation is the key metric for this week, with the release of CPI and PPI numbers.

Dollar demand will continue, should we see higher prices and in turn, see a reduction in rate cut expectations by the Federal Reserve (Fed). Also out this week, is the latest stateside retail sales report, and from the UK we have the first estimate of growth in Q4 2024.

There have been worrying signs that the UK economy stagnated towards the end of last year, and should these numbers confirm, then the outlook for this could turn even gloomier.

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Week 3: 17/02/25 - 21/02/25

Big week for the UK again with the release of job numbers on Tuesday, alongside CPI numbers on Wednesday, and finishing off with retail sales. As mentioned, concerns have been rising over wether the UK economy is stagnating, and this week's data points could well add to this argument.

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Week 4: 23/02/25 - 28/02/25

With the last week of the month, we’ll get French and German CPI numbers for February, as well as second revisions on Q4 GDP stateside. Core PCE will also be out from the US.

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Conclusion

In conclusion, staying informed about key economic calendar indicators, events, and dates is vital for making informed financial decisions. Whether you're monitoring GBP, EUR, or USD, these dates can significantly impact your currency exchange rates.

For the dates, events, and economic indicators that matter most to businesses, investors, and economic enthusiasts. Our Economic Calendar offers comprehensive insights into the meaningful indicators influencing market movements and FX rates across the UK, US, and EU.