Economic Calendar

Thursday, September 24

03:30am EDT

For the Swiss National Bank, the guidance is arguably more important than the headline rate decision. The central bank is fully expected to hold rates unchanged at this meeting at zero, with the next hike not seen until at least mid-2026 or early 2027. If the SNB is dovish then this could further extend the recent USD/CHF rally given the recent rate rise in the US and the potential for more hikes.

What to watch: EUR/CHF, USD/CHF

Thursday, September 24

03:30am EDT

The Riksbank will be watched particularly closely after the Swedish krona’s sharp depreciation. The move is becoming large enough to test policymakers’ tolerance, although markets are still not looking for a hike until November.

What to watch: USD/SEK, EUR/SEK

Thursday, September 24

04:00am EDT

Norges Bank is expected to tighten next week. Even so, the NOK rally looks increasingly stretched unless crude provides another meaningful leg higher. But with the nation’s fiscal discipline being among the best in the world, the currency is likely to continue finding support on the dips.

What to watch USD/NOK, NOK/SEK