Month Forward: September 2025 Key Events Watchlist

September opens with markets back in full swing after the summer lull, and this year it arrives with a heavy calendar of catalysts. Three major central banks — the Fed, ECB, and BOJ — will update policy, providing crucial guidance on the path for rates and currency trends. Alongside these decisions, key inflation data and labour market figures will feed into expectations for Q4 positioning.

For EURUSD and GBPUSD traders, these events are set to deliver higher volatility and clearer directional cues. With the U.S. still grappling with above-target inflation, Europe balancing slow growth with price pressures, and Japan under scrutiny for signs of policy normalisation, September will be a decisive month for FX markets.

September 2025 Economic Calendar

Taking a look at our FXIFY™ economic calendar, here are our top picks for economic news to look out for in September.

Date	Asset	Events
Week One: September 1 – 7	USD USD CHF USD USD	ISM Services PMI JOLTS Job Openings CPI m/m Unemployment Claims Non-Farm Employment Change
Week Two: September 8 – 14	USD USD EUR GBP	Core PPI m/m Core CPI m/m ECB Press Conference GDP m/m
Week Three: September 15 – 21	CAD GBP CAD USD JPY	CPI m/m CPI y/y BOC Rate Statement FOMC Press Conference BOJ Policy Rate
Week Four: September 22 – 28	EUR GBP USD AUD CHF	German Flash Manufacturing PMI Flash Manufacturing PMI Flash Manufacturing PMI CPI y/y SNB Policy Rate

September brings a packed schedule of important economic events. Early in the month, traders will be watching U.S. inflation data and labour market indicators — both key to shaping expectations for the Fed.

The second week features the ECB press conference and UK GDP, both of which will be closely monitored for signs of policy direction in Europe. Canadian CPI and the Bank of Canada’s statement in week three add to the list of impactful releases.

By the end of the month, attention will turn to European flash PMI readings and the SNB policy decision, which will provide further insight into growth and inflation trends.

Traders should stay alert to these events, as many could cause sharp moves in major pairs. 

Remember: news trading is restricted 5 minutes before and after major releases on ALL FXIFY accounts.

1. EUR – ECB Press Conference (September 11) 

The ECB meeting this month comes at a difficult time for the Eurozone. Growth in economies like Germany and France has slowed, while inflation remains above target. The ECB must decide whether to hold rates steady, signal cuts, or hint at more tightening.

For traders, this press conference is one of the month’s key events. Lagarde’s remarks will show how the ECB intends to navigate weak growth and persistent inflation. Markets will watch closely for signals on whether policy is staying restrictive or shifting toward easing.

Trading Central data (available in your FXIFY dashboard) shows EUR/USD has moved an average of 39.74 pips one hour after ECB decisions. 63% of those reactions were bullish, suggesting the euro often benefits from steady or hawkish guidance, while 38% were bearish when tone shifted dovish.

This event matters not just for short-term volatility but for broader positioning. A firm stance could spark a rebound in EURUSD, while dovish language may keep pressure on the euro and support USD strength heading into Q4.

2. USD – FOMC Press Conference (September 17)

The upcoming FOMC press conference is the most critical USD event of the month. Inflation in the U.S. remains above target, but growth and labour data have started to soften, leaving markets uncertain about the Fed’s next move. Traders are looking for clarity on whether rate cuts could come later this year or if policy will stay restrictive into 2026.

This uncertainty makes Powell’s tone especially important. Clear guidance on inflation control versus economic slowdown could reset expectations for the dollar. Historically, EUR/USD has moved an average of 54.06 pips one hour after recent Fed interest rate decisions, showing higher volatility than many other events. Notably, 75% of outcomes were bearish for EUR/USD (dollar stronger) and only 25% bullish, underscoring the Fed’s outsized influence on dollar strength.

The press conference is not just about immediate volatility but about the direction of monetary policy into Q4. Hawkish language could reinforce dollar dominance across FX pairs, while dovish signals might trigger relief rallies in EURUSD and GBPUSD. Either way, traders should prepare for sharp moves and shifting sentiment around this event.

3. JPY – BOJ Policy Rate (September 19)

The BOJ policy meeting this month will be closely watched as Japan faces pressure to move away from its long-standing ultra-loose monetary stance. With inflation holding above target and the yen under persistent pressure, markets are looking for any sign that the Bank of Japan is willing to adjust its policy settings.

This matters because even minor changes in BOJ communication can have an outsized effect on USDJPY and broader FX sentiment. Trading Central data shows USD/JPY has historically moved an average of 48.43 pips one hour after BOJ decisions. Outcomes have been 75% bearish for USD/JPY (yen stronger) and only 25% bullish, reflecting the market’s sensitivity to hawkish hints.

For traders, the key is that BOJ decisions can quickly ripple through carry trades and risk sentiment. A shift toward normalisation could strengthen the yen sharply and weigh on USDJPY, with indirect effects on EURUSD and GBPUSD. Conversely, if policy remains unchanged, the yen could weaken further, reinforcing dollar strength across majors.​​

September 2025 Earnings Calendar

After a heavy run of results in August, September’s focus shifts to a fresh round of tech and consumer giants. These earnings will provide another lens on how companies are navigating persistent inflation, slowing global demand, and high financing costs. Several high-profile names stand out as potential market movers this month:

📅 Earnings Calendar – September 2025

Date	Company	Ticker	Time	Sector
Sept 4	Broadcom	AVGO	After Market Close	Semiconductors
Sept 10	Adobe	ADBE	After Market Close	Software / AI
Sept 15	Oracle	ORCL	After Market Close	Enterprise Software
Sept 25	Costco	COST	After Market Close	Consumer / Retail
Sept 30	Nike	NKE	After Market Close	Consumer / Apparel

These names are among the most widely followed by global investors and tend to have market-moving potential. Broadcom’s results will be crucial for the semiconductor space, Adobe and Oracle will shed light on the health of enterprise tech and AI adoption, while Costco and Nike provide direct insight into consumer demand at a time of tight household budgets.

Together, these reports will give traders a strong read on both corporate resilience and consumer behaviour. Positive surprises may lift equity sentiment and boost risk-sensitive FX pairs, while weaker outcomes could reinforce safe-haven flows into USD and JPY. Staying alert to these earnings can help traders anticipate shifts in broader risk appetite.

Key Story: Bitcoin & USOIL

This month’s key story highlights Crude Oil and Bitcoin — two markets sitting at important technical levels that could set the tone for broader sentiment in September.

Crude Oil (WTI) Oil has recently retested the $64.73 level, a former support zone that is now acting as resistance. The rejection from this area suggests momentum may be shifting lower. If selling pressure continues, the downside move could extend significantly, reinforcing concerns about slowing global demand. For FX traders, extended weakness in oil often weighs on commodity-linked currencies like CAD and NOK.

Bitcoin (BTC/USD) is testing the ~$109,529 level — a major support area. Unlike oil, the reaction here could go either way. A strong bounce from this zone may re-establish bullish momentum, but a decisive break below would mark a clear shift in sentiment and could invite further downside. Given Bitcoin’s growing correlation with risk sentiment, traders should watch this level closely for clues on broader appetite toward equities and high-beta currencies.

Together, oil’s downside risk and Bitcoin’s pivotal support highlight the importance of monitoring commodities and digital assets alongside FX. Their movements can serve as leading indicators for risk appetite and cross-asset flows into September.

Wrapping Up September’s Outlook

September is shaping up to be one of the most important months of the year for traders. With the FOMC, ECB, and BOJ all delivering policy updates, alongside a busy slate of inflation data and earnings from global giants, volatility is likely to return in force after the quieter summer period.

For EURUSD and GBPUSD, central bank guidance will be the primary driver, but oil and Bitcoin’s price action also add layers to the broader sentiment picture. Whether it’s energy markets pointing to weaker demand or crypto testing critical support, traders will have plenty of signals to watch.

As always, preparation is key. Map out scenarios, stay disciplined around news, and use the FXIFY™ Economic Calendar to track events in real time. September may set the tone for Q4 — and being ready could make all the difference.