Inflation data dominates the calendar, with high-impact CPI releases from Canada and the UK bracketing the FOMC minutes and a run of jobs figures. Here is the day-by-day rundown, all times UTC.

Monday, August 17

Canada CPI m/m (12:30) measures the monthly change in consumer prices. Forecast is 0.4%, a sharp rebound from the prior -0.4%. Alongside it, Median CPI y/y is seen at 2.0% versus 1.9%, and Trimmed CPI y/y is expected to hold at 1.8%, matching the previous read.

The two core measures are the Bank of Canada’s preferred gauges, so the trio moves CAD pairs and Canadian rate expectations together.

Tuesday, August 18

UK Claimant Count Change (06:00) tracks the change in people claiming unemployment benefits. Forecast is 11.2K, up from the prior 6.7K β€” a larger rise would point to a softening labour market. The print is a first read on GBP for the week and sets the tone ahead of Wednesday’s inflation data.

Wednesday, August 19

UK CPI y/y (06:00) is the headline inflation gauge. Forecast is 2.9%, accelerating from 2.6%. Coming a day after the labour data, it is the week’s key GBP event and feeds directly into Bank of England rate pricing.

FOMC Meeting Minutes (18:00) provide the detailed account of the Fed’s last policy meeting. There is no forecast figure β€” markets parse the language for the committee’s read on inflation and the path ahead. The release moves the dollar, US indices and gold, and its US-afternoon timing can carry into the following session.

Thursday, August 20

Australia Employment Change (01:30) measures the net change in employed people. Forecast is 11.4K, a steep step down from the outsized prior 76.3K. Released simultaneously, the Unemployment Rate is seen unchanged at 4.4%, matching the previous reading.

The pair of releases drives AUD and Australian rate expectations, with the size of the drop-off from the prior employment surge the main focus.

What to watch

The CPI cluster is the through-line: Canada Monday, the UK Wednesday, with the FOMC minutes the same day offering the Fed’s own inflation read. Currency-specific moves in CAD, GBP and AUD stack up around each print, while the minutes reach across the dollar, indices and gold.