Key points on forex calendar november 2026
- The first week is the busiest: the RBA (3 Nov), US midterm results (4 Nov), the BoE (5 Nov) and the US jobs report (6 Nov).
- US CPI (10 Nov) and India CPI (~12 Nov) are the key inflation checks before the December central bank meetings.
- Diwali Muhurat trading is on Sunday, 8 November, and the NSE USD/INR November contract expires around 26 November.
- November sets up December, when the RBI, Fed, ECB, BoE and BoJ all decide.
Week 1: 2–6 November – central banks, midterms and jobs
| Date | Time (IST) | Event | Expected / why it matters |
|---|---|---|---|
| Mon, 2 Nov | ~20:30 | US ISM manufacturing PMI | Forecast 54.7; US growth check |
| Tue, 3 Nov | 09:00 | RBA decision and Statement on Monetary Policy | All four major Australian banks expect a hike to 4.85%, the fifth of 2026 |
| Tue, 3 Nov | 20:30 | US JOLTS job openings | Labour demand |
| Tue, 3 Nov | All day (US time) | US midterm elections | Voting in the US |
| Wed, 4 Nov | From ~04:30–05:30 | US midterm results | Results arrive during Indian trading hours; possible USD/INR volatility |
| Wed, 4 Nov | 15:30 | Eurozone October flash inflation | Key input for a December ECB hike; EUR/INR can react live |
| Thu, 5 Nov | 17:30 | Bank of England decision and Monetary Policy Report | Hike to 4.00% widely expected |
| Fri, 6 Nov | 19:00 | US October jobs report | Key input for the December Fed decision |
| Fri, 6 Nov | Evening | RBI forex reserves (week ended 30 Oct) | Intervention signal |
Week 2: 9–13 November – Diwali and inflation
| Date | Time (IST) | Event | Expected / why it matters |
|---|---|---|---|
| Sun, 8 Nov | 14:20–15:30 | Diwali Muhurat trading (BSE currency; NSE close | A thin, symbolic session; global forex markets are closed |
| Mon, 9 Nov | 09:00 | Regular trading resumes | The first full session of Samvat 2083 |
| Tue, 10 Nov | – | Diwali Balipratipada | Possible market closure |
| Tue, 10 Nov | 19:00 | US October CPI | One of two CPI readings before the December Fed meeting |
| Thu, 12 Nov | 16:00 | India October CPI | Key input for the RBI on 4 December; the RBI projects Q3 inflation near 6% |
| ~Thu, 12 Nov | 12:30 | UK Q3 GDP | GBP/INR |
| Fri, 13 Nov | Evening | RBI forex reserves | Intervention signal |
Week 3: 16–20 November – minutes and more inflation
| Date | Time (IST) | Event | Expected / why it matters |
|---|---|---|---|
| Tue, 17 Nov | TBA | RBNZ Survey of Expectations | NZD; December RBNZ hike odds |
| Wed, 18 Nov | 12:30 | UK October CPI | The first inflation print after the BoE decision |
| Thu, 19 Nov | ~00:30 | FOMC minutes (28 October meeting) | Detail behind the 10–2 vote |
| Fri, 20 Nov | 05:00 | Japan October CPI | BoJ December hike odds |
| Fri, 20 Nov | Evening | RBI forex reserves | Intervention signal |
Week 4–5: 23–30 November – PMIs, expiry and India GDP
| Date | Time (IST) | Event | Expected / why it matters |
|---|---|---|---|
| ~Mon, 23 Nov | Various | Global flash PMIs (India, Japan, Eurozone, UK, US) | The first read on November activity |
| Tue, 24 Nov | – | Guru Nanak Jayanti [VERIFY market holiday] | Possible Indian market closure |
| Wed, 25 Nov | 19:00 | US Q3 GDP (second estimate) | Revision to the 3.4% advance figure |
| ~Thu, 26 Nov | 12:30 | NSE USD/INR November expiry | Settled at the RBI reference rate; roll to December |
| Thu, 26 Nov | – | US Thanksgiving | Thin US liquidity |
| Fri, 27 Nov | Evening | RBI forex reserves | Intervention signal |
| ~Late Nov | 19:00 | US October PCE | The last PCE before the Fed |
| Mon, 30 Nov | 16:00 | India Q2 FY27 GDP | Growth backdrop for the RBI |
Looking ahead: December decisions
| Date | Time (IST) | Event | Current expectation |
|---|---|---|---|
| Tue, 1 Dec | 15:30 | Eurozone November flash inflation | The last flash before the ECB |
| Fri, 4 Dec | 10:00 | RBI MPC decision | Hike to 5.75% or pause |
| Thu, 10 Dec | ~00:30 | FOMC decision (9 Dec, US time) | A hike is about 78% priced |
| Thu, 10 Dec | 19:00 | US November CPI | Released after the Fed decision |
| Thu, 17 Dec | 18:45 / 17:30 | ECB / BoE decisions | ECB hike expected |
| Fri, 18 Dec | Morning | BoJ decision | Hike to 1.50% likely |
Why these events matter for the rupee
The US dollar drives USD/INR. The midterms, the jobs report and CPI will shape whether the Fed hikes in December. A firmer dollar would add pressure on the rupee, which ended October near 94.93.
India’s own data matters for the RBI. October CPI and Q2 GDP will decide whether the RBI hikes to 5.75% on 4 December or pauses. The RBI projected Q3 FY27 inflation at 6.0% in October.
Timing matters on NSE. The NSE currency segment trades from 9:00 to 17:00 IST. Events in that window, such as the RBA, the midterm results, eurozone inflation and India CPI, can move INR pairs live. Most US data comes out after the close and shows at the next morning’s open.
Impact on Indian traders
- USD/INR: Watch 4 November (midterms), 6 November (jobs) and 10 November (CPI) for the biggest dollar swings.
- GBP/INR: The BoE on 5 November at 17:30 IST lands just after the NSE close.
- EUR/INR: Eurozone inflation on 4 November at 15:30 IST lands during NSE hours.
- JPY/INR: Japan CPI on 20 November and BoJ December hike bets.
- Currency pairs on NSE: NSE lists USD/INR, EUR/INR, GBP/INR and JPY/INR, plus EUR/USD, GBP/USD and USD/JPY. Trading forex with unauthorised offshore platforms is not permitted under FEMA.
Bookmark our live Economic Calendar for updated times, forecasts and actual results, and find more coverage in Market Analysis & News. Related: [LINK: USD/INR November outlook], [LINK: US midterms and the dollar].
FAQs
What are the biggest forex events in November 2026?
The RBA decision on 3 November, the US midterm results on 4 November, the BoE decision on 5 November, the US jobs report on 6 November and US CPI on 10 November.
What time is the US jobs report in IST in November 2026?
19:00 IST on Friday, 6 November, because US clocks moved back on 1 November.
When does the NSE USD/INR November 2026 contract expire?
Two working days before the last business day of November, which is expected to be Thursday, 26 November, at 12:30 pm IST. Confirm against NSE’s holiday list.
