Economic Calendar Digest: 2026-10-28
The Federal Open Market Committee (FOMC) announces its interest rate decision today, Wednesday, October 28, 2026, at 2:00 p.m. EDT (18:00 UTC). This is a non-SEP meeting, so no updated economic projections or dot plot are released. Markets expect the Fed to hold the federal funds rate at 3.75%–4.00%, according to the sources below. Because the USD is the quote or base currency in most major pairs, scheduled central bank communication is a common source of volatility in FX markets.
High-Impact Events Today (★★★)
| Time (UTC) | Country | Event | Forecast | Previous | Affected Pairs |
|---|---|---|---|---|---|
| 18:00 | 🇺🇸 US | FOMC Rate Decision and Statement (2:00 p.m. EDT) | Hold at 3.75%–4.00% (market expectation) | — | EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, USD/CAD, XAU/USD |
Per-Event Educational Context
FOMC Rate Decision
- What it is: The FOMC is the Federal Reserve's policy committee. At the end of each scheduled meeting it announces whether it will change the target range for the federal funds rate, which is the benchmark overnight interest rate for US banks. A written statement accompanies the decision.
- Why it matters: Interest rate expectations drive yields and the relative attractiveness of currencies. Markets typically price in the expected outcome beforehand, so the most notable moves often occur when the decision or the statement differs from consensus. Tone and wording in the statement, and in any press conference that follows, can also move markets. Per the research, this meeting carries no updated projections, so attention may center on the statement text and the press conference.
- Markets to watch: Majors involving the USD, including EUR/USD, GBP/USD, USD/JPY, and USD/CHF. USD-linked commodity and risk pairs such as AUD/USD, USD/CAD, and XAU/USD may also react.
- Source: FOMC Rate Decision — Wednesday, 28 October 2026
Mid-Impact Events (★★)
| Time (UTC) | Country | Event | Forecast | Previous | Affected Pairs |
|---|---|---|---|---|---|
| — | 🇪🇺 EU | ECB monetary policy decision (scheduled later this week per central bank week coverage; exact time not confirmed in source) | — | — | EUR/USD, EUR crosses |
| — | 🇯🇵 JP | BoJ monetary policy decision (scheduled later this week per central bank week coverage; exact time not confirmed in source) | — | — | USD/JPY, EUR/JPY, GBP/JPY |
Upcoming reference: The next US jobs report is scheduled for November 6, 2026, according to the source below.
Source: Central Banks Week: Fed, ECB and BoJ (Admiral Markets) · Next: Fed decision Oct 28 — US Economic Calendar
Trader's Checklist for Today
✅ Review your risk management rules, including maximum loss per trade and total exposure to USD-linked positions, before the 18:00 UTC FOMC announcement.
✅ Spreads may widen around high-impact releases and during the minutes that follow, which can affect execution and slippage. Check your broker's conditions in advance.
✅ Recommend reviewing your position sizing before scheduled events so that exposure stays within your stated risk tolerance, whatever the outcome.
Compliance Footer
⚠️ This page summarizes scheduled economic events for educational purposes. We do not predict market direction or recommend trades. Forecasts shown are market consensus from third-party sources. Verify all data with official central bank and statistics agency sources. Trading is risky. This is not investment advice.
Last updated: 2026-10-28 | Sources: financecalendar.com, admiralmarkets.com, kiplinger.com, whendomarketsopen.com (third-party calendars; verify with the Federal Reserve, ECB, and Bank of Japan official sites)