Forex Economic Calendar Q1 2027: January to March

Every central bank meeting, major data release and holiday that shapes the forex calendar from January to March 2027, with officially confirmed dates, timing rules and what each one tends to do to spreads.

The first quarter of 2027 contains fifteen scheduled decisions from the eight major central banks, three US jobs reports, three US inflation reports, a Chinese New Year, two different daylight-saving changes and the Easter holiday. The heaviest stretch is the week of 15 March, when six central banks announce policy within about 48 hours. This guide lists each event, who publishes it, when it usually comes out, and how it has tended to affect spreads and volatility in general. It does not say what any of these events will do to prices; nobody can.

If you are new to calendars, start with how to use an economic calendar, which explains consensus, actual, previous and impact ratings. For why some numbers move currencies more than others, see how economic data moves forex. This page is the quarter-specific companion.

How to read this guide

Dates in this guide fall into two groups:

Confirmed 2027 dates. We give a specific date only where we checked the official schedule published by the central bank, statistics agency, exchange or government (listed under Sources at the end). Even these can change. The Federal Reserve, for example, says each meeting date is tentative until confirmed at the meeting before it.
Timing rules. Where an official 2027 date was not yet published when we checked, we give the usual rule ("first Friday of the month") and ask you to confirm on the official calendar.

Times are given in the publisher's local time, with conversions for New York, London and Central European Time (CET). From January to mid-March, New York is five hours behind London and six behind Frankfurt. Those gaps change in March (see the daylight-saving section). The live market hours tool shows the current offsets in your own time zone.

January 2027: a slow start, then a crowded final week

Holiday liquidity in the first days of the year

New Year's Day, Friday 1 January 2027, is a holiday in the US, the UK and most of Europe, and the NYSE is closed. Japan's year-end holiday period also runs into the first days of January. The first trading days of the year often have thinner liquidity than usual, as many institutional desks are not fully staffed. Thin liquidity is associated with wider spreads and with sharper moves on modest news. Our guide to why spreads widen covers the mechanics.

US employment report: Friday 8 January

The Bureau of Labor Statistics (BLS) publishes the Employment Situation report, which includes non-farm payrolls (NFP), the unemployment rate and average hourly earnings. The usual rule is the first Friday of the month at 08:30 New York time, but the BLS moves it when the first Friday is too early in the month for the data to be ready. The January 2027 release (covering December 2026) is on Friday 8 January at 08:30 New York, 13:30 London, 14:30 CET.

Why traders watch it: it is the most comprehensive monthly read on the US labour market, and the Federal Reserve's mandate includes maximum employment. Historically it has been one of the most volatile scheduled releases for USD pairs, with spreads often widening for a short period around 08:30 and fills sometimes landing some way from the requested price. Canada's Labour Force Survey from Statistics Canada is often released on the same morning at the same time, which matters if you trade USD/CAD.

US CPI: Wednesday 13 January

The BLS also publishes the Consumer Price Index. The 2027 schedule puts December 2026 CPI on Wednesday 13 January at 08:30 New York (13:30 London, 14:30 CET). Markets usually look at headline and core (excluding food and energy) and at the month-on-month figures as much as the annual rate. Since inflation feeds directly into interest rate expectations, CPI days have often been as active for the dollar as payrolls days.

Other US releases in January

Retail sales (Census Bureau): usually mid-month at 08:30 New York.
ISM manufacturing PMI: usually the first business day of the month at 10:00 New York; ISM services follows a couple of business days later.
Weekly jobless claims (Department of Labor): every Thursday at 08:30 New York, moved when a holiday falls in the week.
GDP advance estimate for Q4 2026 (Bureau of Economic Analysis): usually near the end of the month after the quarter ends, at 08:30 New York. We could not confirm the 2027 date when writing; check the BEA release schedule.

Monday 18 January is Martin Luther King Jr. Day. US equity markets are closed and US liquidity is lighter, though forex trades as normal around the world.

Bank of Japan: 21–22 January

The Bank of Japan's Monetary Policy Meeting runs over Thursday 21 and Friday 22 January 2027, with the decision on the 22nd. This is one of the BoJ's four meetings a year accompanied by the Outlook for Economic Activity and Prices (Outlook Report). The BoJ does not announce at a fixed clock time: the statement is released when the meeting ends, usually around midday Tokyo time, which is the early hours of the morning in London. That timing means the reaction in USD/JPY and the yen crosses often happens in Asian hours, when liquidity in some pairs is thinner than in the London session.

Federal Reserve FOMC: 26–27 January

The Federal Open Market Committee meets on Tuesday 26 and Wednesday 27 January 2027. The statement is published on the second day at 14:00 New York (19:00 London, 20:00 CET), followed by the Chair's press conference at 14:30. The January meeting is not one of the four with a Summary of Economic Projections (the "dot plot"). Read our FOMC glossary entry for how the committee works.

Spreads on USD pairs commonly widen into 14:00 New York, and the press conference can produce a second burst of activity half an hour later as the Chair's answers add to or soften the written statement. For European traders, this is an evening event, so positions left open after the London close are the ones exposed.

Bank of Canada: Wednesday 27 January

On the same day as the Fed, the Bank of Canada announces its policy rate at 09:45 New York time (14:45 London, 15:45 CET), together with its quarterly Monetary Policy Report. USD/CAD therefore has two scheduled central bank events within hours of each other on 27 January.

Late January data

Tokyo CPI: published by Japan's Statistics Bureau, usually on the Friday of the last full week of the month at 08:30 Tokyo time. It covers the same month, so it arrives weeks before national CPI and is watched as an early read on Japanese inflation.
Euro area flash GDP for Q4 2026 (Eurostat): usually around 30 days after the quarter ends, so around the turn of January into February, at 11:00 CET.
Euro area flash HICP (Eurostat): usually on or just after the last working day of the month, at 11:00 CET.

February 2027: two European decisions, Asia-Pacific meetings and Chinese New Year

ECB and Bank of England: Thursday 4 February

This is the first double-header of the year. The European Central Bank Governing Council meets on 3–4 February 2027, with the decision on Thursday 4 February. The ECB normally publishes its decision at 14:15 CET (13:15 London, 08:15 New York), with the President's press conference at 14:45 CET. There is no ECB monetary policy meeting in January 2027, so this is its first decision of the year.

The Bank of England announces on the same day, Thursday 4 February, at 12:00 London (13:00 CET, 07:00 New York), together with the minutes and the February Monetary Policy Report. That means EUR/GBP has two scheduled central bank events two and a quarter hours apart, and GBP/USD and EUR/USD each have one. Our guide to central banks and interest rates explains how decisions, votes and forward guidance feed through to currencies.

US employment report: Friday 5 February

The January 2027 jobs report is out on Friday 5 February at 08:30 New York. The January report is also when the BLS typically incorporates annual benchmark revisions to payroll data, which can change the picture of the previous year. That is one reason the release is often read in more detail than usual.

Chinese New Year: Saturday 6 February

The Lunar New Year falls on Saturday 6 February 2027. Mainland Chinese markets close for the Spring Festival holiday around this date (the official holiday arrangement is set by China's State Council; check it when published), and several other Asian markets also close for one or more days. The effect on major forex pairs is usually indirect: thinner Asian-session liquidity, and quieter trading in the offshore yuan and in currencies with strong trade links to China, such as the Australian and New Zealand dollars.

Reserve Bank of Australia: Tuesday 9 February

The RBA's Monetary Policy Board meets on 8–9 February 2027, with the decision on Tuesday 9 February. In recent years the RBA has announced at 14:30 Sydney time, followed by a press conference; in February Sydney is on summer time (UTC+11), so 14:30 there is 03:30 London. February is also one of the months the RBA publishes its Statement on Monetary Policy. AUD/USD and AUD/JPY usually see their reaction during the Asian session.

Reserve Bank of New Zealand: Wednesday 10 February

The RBNZ's official schedule lists a Monetary Policy Review and OCR decision on Wednesday 10 February 2027. From 2027 the RBNZ moves from seven to eight scheduled decisions a year. Its announcements are usually at 14:00 New Zealand time, which in February (NZ summer time, UTC+13) is 01:00 London. NZD/USD is the most directly affected pair.

US CPI: Thursday 11 February

January 2027 CPI is released on Thursday 11 February at 08:30 New York. Because January prices often include annual price resets, January CPI has historically been one of the more closely scrutinised inflation prints.

US Presidents' Day: Monday 15 February

Washington's Birthday, Monday 15 February 2027, is a US federal holiday and the NYSE is closed. Forex trades, but US-hours liquidity is lighter.

UK and euro area data in February

UK CPI (Office for National Statistics): usually mid-month on a Wednesday at 07:00 London. ONS publishes its release calendar a few weeks ahead.
UK labour market (ONS): usually a Tuesday in the middle of the month at 07:00 London, covering unemployment, employment and pay growth.
Flash PMIs (S&P Global): usually in the second half of the month, with the euro area and UK releases in the European morning and the US release at 09:45 New York.

March 2027: daylight saving, a central bank super-week and Easter

Bank of Canada: Wednesday 3 March

The Bank of Canada announces on Wednesday 3 March at 09:45 New York (14:45 London, 15:45 CET). This is not a Monetary Policy Report month.

US employment report: Friday 5 March

February 2027 payrolls are released on Friday 5 March at 08:30 New York, 13:30 London, 14:30 CET. This is the last US jobs report before the US clocks change.

US CPI: Wednesday 10 March

February CPI is out on Wednesday 10 March at 08:30 New York, still on the winter offsets (13:30 London, 14:30 CET).

The daylight-saving gap: 14 to 28 March

The US moves its clocks forward on Sunday 14 March 2027 (second Sunday of March). The UK and the EU move theirs on Sunday 28 March 2027 (last Sunday of March). For the two weeks in between, New York is four hours behind London instead of five, and five hours behind CET instead of six.

In practice, every US release and decision in that window lands an hour earlier for European traders:

A US release at 08:30 New York is 12:30 London and 13:30 CET (instead of 13:30 and 14:30).
The FOMC statement at 14:00 New York is 18:00 London and 19:00 CET (instead of 19:00 and 20:00).
The ECB's 14:15 CET decision is 09:15 New York (instead of 08:15).

This is the most common source of "the news came out early" mistakes. Calendars set to a fixed offset, mental arithmetic and broker server clocks can all be wrong for these two weeks. Our guide to forex market hours and sessions explains how session overlaps shift, and the market hours tool shows the correct local times automatically.

Central bank super-week: 16 to 18 March

Six of the major central banks announce within roughly 48 hours. In date order:

Federal Reserve: FOMC meeting 16–17 March, statement on Wednesday 17 March at 14:00 New York, which is 18:00 London and 19:00 CET because of the daylight-saving gap. This is one of the four meetings with a Summary of Economic Projections, so the dot plot and updated forecasts are published alongside the statement.
Reserve Bank of New Zealand: Monetary Policy Statement and OCR decision on Wednesday 17 March (NZ time), the first full Monetary Policy Statement of 2027. At 14:00 New Zealand time, that is 01:00 on Wednesday 17 March in London.
Bank of Japan: Monetary Policy Meeting 17–18 March, decision on Thursday 18 March, usually around midday Tokyo, which is the early hours in Europe.
Swiss National Bank: monetary policy assessment on Thursday 18 March, press release at 09:30 Swiss time (08:30 London, 04:30 New York), news conference at 10:00. The SNB meets only four times a year, so each decision tends to matter for the franc; see EUR/CHF and USD/CHF.
Bank of England: announcement on Thursday 18 March at 12:00 London (13:00 CET, 08:00 New York), with the minutes. Not a Monetary Policy Report month.
European Central Bank: Governing Council meeting 17–18 March, decision on Thursday 18 March at 14:15 CET (13:15 London, 09:15 New York), press conference at 14:45 CET. The ECB staff macroeconomic projections are normally published at the March, June, September and December meetings.

Weeks like this have tended to keep volatility elevated across many pairs at once rather than in one currency, because each decision can change the interest rate differential between two economies. Cross pairs such as EUR/JPY or GBP/JPY can be hit by two decisions on the same day. Spreads often widen around each announcement, and a position left open through the week is exposed to all of them. The volatility glossary entry explains how this is usually measured.

Reserve Bank of Australia: Tuesday 23 March

The RBA meets on 22–23 March 2027, with the decision on Tuesday 23 March. Sydney is still on summer time until early April, so a 14:30 Sydney announcement is 03:30 London.

Easter: Good Friday 26 March and Easter Monday 29 March

Easter Sunday 2027 falls on 28 March. Good Friday, 26 March, is a bank holiday in England and Wales and the NYSE is closed. Easter Monday, 29 March, is a bank holiday in England and Wales and in much of Europe. Forex is not formally closed on these days, but many banks and liquidity providers run reduced desks, and some brokers change trading hours on CFDs on indices and commodities. Check your broker's holiday schedule. Over Easter, thin liquidity has often produced wider spreads and occasional sharp moves on small volumes. The weekend of 27–28 March also contains the UK/EU clock change.

Quarter-end and Japanese fiscal year-end: 31 March

Wednesday 31 March is the end of the first quarter and the end of the fiscal year for many Japanese companies and for the Japanese government. In the run-up to it, portfolio rebalancing, hedging adjustments and repatriation flows have historically been discussed as a source of extra activity in yen pairs and in the London 16:00 fix. These flows are hard to measure from outside and do not point in a predictable direction. For a retail trader the practical point is that end-of-quarter days can be busier, or more erratic, than the calendar suggests.

Note also that the Japanese spring equinox holiday is observed on Monday 22 March 2027 (the equinox falls on a Sunday), so Tokyo is closed that day.

A worked example: one week, three time zones

Here is how a trader in London might prepare for the week of 15 March 2027. The times below are derived from the published schedules; the scenario and the position are illustrative.

Monday 15 March. Note that US clocks changed the day before. US data now lands at 12:30 London, not 13:30.
Wednesday 17 March, 01:00 London. The RBNZ decision (14:00 in New Zealand) arrives overnight, so anything held from Tuesday evening is exposed to it.
Wednesday 17 March, 18:00 London. FOMC statement and projections; press conference at 18:30.
Thursday 18 March, early morning. BoJ decision during the Tokyo session.
Thursday 18 March, 08:30 London. SNB press release.
Thursday 18 March, 12:00 London. BoE decision and minutes.
Thursday 18 March, 13:15 London. ECB decision; press conference at 13:45.

Suppose the trader holds a 0.5-lot EUR/USD position with a stop 20 pips away. At roughly $10 per pip per standard lot, 0.5 lots is about $5 per pip, so the planned risk is about $100. If the FOMC statement produces a fast move and the stop fills 12 pips beyond its level because of slippage, the loss becomes about $160. If the trader then holds through the ECB the next day, the position is exposed to a second event of the same kind. Our position size calculator and guide to position sizing show how to size so that the worst plausible fill is still acceptable. None of this is a reason to trade or not to trade; it is a way to see the risk before it arrives. Most retail CFD accounts lose money, and fast markets around scheduled events are one place where losses can exceed what was planned.

Common mistakes in Q1

Forgetting the daylight-saving gap. Between 14 and 28 March, US events are an hour earlier for Europe. Check your calendar's time zone setting.
Assuming the first Friday rule. The January 2027 jobs report is on 8 January, not 1 January. Always check the BLS schedule.
Treating holiday sessions like normal ones. New Year, Chinese New Year and Easter all thin out liquidity in different parts of the world.
Watching one central bank and ignoring the other side of the pair. In March, every major currency has a decision in the same week.
Leaving positions open over Easter without checking broker hours. Some CFD markets close or change hours, and the market can gap when full trading resumes. See gap risk and weekend risk.
Relying on a third-party calendar alone. Cross-check with the official schedules listed below; if they disagree, the official one wins.

Quick reference: confirmed Q1 2027 dates

Central bank decisions (announcement day):

22 January: Bank of Japan (with Outlook Report)
27 January: Federal Reserve (FOMC)
27 January: Bank of Canada (with Monetary Policy Report)
4 February: European Central Bank
4 February: Bank of England (with Monetary Policy Report)
9 February: Reserve Bank of Australia
10 February: Reserve Bank of New Zealand (Monetary Policy Review)
3 March: Bank of Canada
17 March: Federal Reserve (FOMC, with projections)
17 March: Reserve Bank of New Zealand (Monetary Policy Statement)
18 March: Bank of Japan
18 March: Swiss National Bank
18 March: Bank of England
18 March: European Central Bank
23 March: Reserve Bank of Australia

US data:

Employment report: 8 January, 5 February, 5 March (08:30 New York)
CPI: 13 January, 11 February, 10 March (08:30 New York)

Holidays and clock changes:

1 January: New Year's Day (US, UK, most of Europe)
18 January: Martin Luther King Jr. Day (NYSE closed)
6 February: Chinese New Year
15 February: Washington's Birthday (NYSE closed)
14 March: US clocks go forward
22 March: Japanese holiday (spring equinox observed)
26 March: Good Friday (NYSE closed; UK bank holiday)
28 March: UK and EU clocks go forward
29 March: Easter Monday (UK bank holiday)

For the next quarter, see the Q2 2027 economic calendar.

Frequently asked questions

When is the first US jobs report of 2027?

Friday 8 January 2027 at 08:30 New York time (13:30 London), covering December 2026, according to the BLS schedule. The first Friday of the year is New Year's Day, which is why it is later than usual.

Which week in Q1 2027 has the most central bank meetings?

The week of 15 March. The Fed and the RBNZ announce on 17 March, and the BoJ, SNB, BoE and ECB on 18 March. The RBA follows on 23 March.

Why are US releases an hour earlier in late March?

The US moves to summer time on 14 March 2027, but the UK and EU do not move until 28 March. For those two weeks, New York is four hours behind London instead of five, so an 08:30 New York release appears at 12:30 London.

Is the forex market closed at Easter?

Forex is traded over the counter and is not formally closed on Good Friday or Easter Monday, but many banks, exchanges and liquidity providers are, so liquidity is usually thin and brokers may change hours on some CFDs. Check your broker's holiday notice.

Can these dates change?

Yes. Central banks can reschedule or hold unscheduled meetings, and statistics agencies occasionally move releases, for example after a government shutdown. The Fed explicitly says its dates are tentative until confirmed. Check the official calendars linked below in the week before each event.

Does the calendar tell me which way a currency will move?

No. It tells you when volatility is more likely. The market reacts to the surprise against expectations, to revisions and to context, which is why the same type of event can produce very different moves. See how economic data moves forex.

Sources

Not investment advice. This is general information and education, written without knowledge of your circumstances. It is not a recommendation to buy or sell any instrument. Past performance is not a reliable indicator of future results. Trading leveraged products carries a high risk of losing money. Risk warning

Forex economic calendar Q1 2027: the events that matter, January to March