The economic calendar for Asia on Tuesday, September 9, 2025, shows few events that are likely to impact foreign exchange movements. Notably, data releases for New Zealand and Australia are on the agenda, as their flags are often confused.

Focus on Global Picture

With the Asian calendar looking quiet for September 9, we shouldn’t expect data to drive currency movements. This lack of local news shifts our focus to the global landscape and comments from major central banks. The key developments in the next few weeks will probably come from outside Asia. We’re especially watching the Federal Reserve. The latest US Core PCE inflation data for August is at 2.8%. While this is much lower than the highs we saw in 2022, it’s still above the Fed’s target of 2%, which keeps them cautious. Because of this, any unscheduled remarks from Fed officials could easily lead to market volatility. In Europe, the European Central Bank has a tricky job. Inflation is at 2.5%, and the latest Eurozone composite PMI is at a weak 48.5. This low growth means they have to be careful, leading to uncertainty for the euro. Traders should be alert to potential weakness in the European economy. In a situation where scheduled data is limited but tensions at central banks are high, we often see reduced implied volatility. This can make options strategies, which wager on future price movements rather than their direction, appear relatively cheap. The market may seem quiet, but it could react sharply to a single piece of news.

Watch for Volatility

The smart move is to keep an eye on US Treasury yields, as they significantly affect pairs like USD/JPY, even more than Japanese data itself. We observed the yen’s sensitivity to US rate changes in 2023 and 2024, and this trend continues. The Bank of Japan remains cautious, leaving the yen open to external influences. In the weeks ahead, we should brace for volatility not from scheduled data, but from unexpected speeches or headlines. Pay attention to any comments from central bankers about future policies later this week. A calm calendar doesn’t guarantee a stable market. Create your live VT Markets account and start trading now.

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