The Economic Indicator Service (EIS) aims to deliver economic content to financial institutions on both buy and sell-side and service providers. This new service currently covers 34,351 recurring macro-economic indicators from 135 countries ( as of December 16, 2019 ) such as GDP data, unemployment releases, PMI numbers etc.

Economic Indicator Service gathers the major economic events from a variety of regions and countries around the globe and provides an Economic Events Data feed and Economic Calendar service to our clients. This service includes all previous historic data on economic indicators that are currently available on the database.

Depending on availability, information regarding economic indicators, including the details of the issuing agency as well as historical data series can be made accessible for the client. Key information about EIS: • Cloud-based service for Live Calendar – delivered via HTML/JavaScript application formats, which can then be embedded onto any website using iFrames • Alternatives methods available – such as API and JSON feed for the economic calendar that can be integrated into the company’s system • Live data – updated 24/5, immediately after the data has been released • Historical data – includes a feed of all previous economic indicators available We are currently adding additional indicators/countries from Africa as well as expanding our coverage of Indicators in G20. The calendar includes the following. • Recurring & Non-recurring indicators covering 136 countries across 21 regions. • Indicators showing high, medium, and low impact data. • Indicators showing actual, previous, and forecast data. • Indicators can be filtered across 16 subtypes. • News generation for selected high-impact data. • Indicator description and historical data up to the latest eight historical points with a chart.

The average spot price for West Texas Intermediate crude oil came to 76.63 U.S. dollars per barrel in 2024, a decrease of nearly one U.S. dollars compared to the previous year. The 2024 average spot price for Brent crude oil was 80.52 U.S. dollars. Both Brent and WTI are light crude oils, with the first used as a benchmark for gasoline prices around the world. Spot prices vs. future prices Spot prices refer to current market prices under which a commodity such as one barrel of crude oil may be bought for immediate delivery. In contrast, future prices refer to settlement and delivery at a later date. As a major refinery and storage hub, Cushing in Oklahoma is the delivery location for WTI traded via the New York Mercantile Exchange. When storage capacities threatened to reach their maximum capacity in April 2020, the WTI oil price crashed as a result, trading at record low prices. The WTI oil price fell into negative numbers for the first time in its history, closing out at negative 37.63 U.S. dollars per barrel on April 20th. The lowest value for Brent prices was 19.33 U.S. dollars per barrel. Influences on oil prices Oil prices are volatile commodities as their trading and delivery is heavily influenced by overall market development and geopolitical events. For example, the Russia-Ukraine war and resulting Russian sanctions brought about fears of supply bottlenecks, which pushed oil prices to decade-highs also reflected in the 2022 annual average.

In April 2020, the global consumer confidence index of 23 countries worldwide dropped to 39.5 following the outbreak of the COVID-19 pandemic. It then slowly increased until July 2021, when it reached an index score of 49.1. Global consumer confidence dropped in the latter half of 2022 following rising inflation rates, but has been increasing since November that year.

United States New Security Issues: US Corporations: Stocks: Financial data was reported at 5.388 USD bn in May 2018. This records an increase from the previous number of 1.443 USD bn for Apr 2018. United States New Security Issues: US Corporations: Stocks: Financial data is updated monthly, averaging 5.838 USD bn from Feb 2003 (Median) to May 2018, with 184 observations. The data reached an all-time high of 56.583 USD bn in May 2009 and a record low of 408.000 USD mn in Feb 2009. United States New Security Issues: US Corporations: Stocks: Financial data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s USA – Table US.Z030: New Security Issues: Corporations.

In the first quarter of 2020, global stock indices posted substantial losses that were triggered by the outbreak of COVID-19. The period from March 6 to 18 was particularly dramatic, with several stock indices losing more than 20 percent of their value. Worldwide panic hits markets From the United States to the United Kingdom, stock market indices suffered steep falls as the coronavirus pandemic created economic uncertainty. The Nasdaq 100 and S&P 500 are two indices that track company performance in the United States, and both lost value as lockdowns were introduced in the country. European markets also recorded significant slumps, which triggered panic selling among investors. The FTSE 100 – the leading share index of companies in the UK – plunged by as much as 21 percent in the opening weeks of March 2020. Is it time to invest in tech stocks? The S&P 500 is regarded as the best representation of the U.S. economy because it includes more companies from the leading industries. However, helped in no small part by its focus on tech companies, the Nasdaq 100 has risen in popularity and seen remarkable growth in recent years. Global demand for digital technologies has increased further due to the coronavirus, with remote working and online shopping becoming part of the new normal. As a result, more investors are likely to switch to the tech stocks listed on the Nasdaq 100.

According to a median projection in July 2025, China's GDP was expected to grow by 4.6 percent in 2025. In the first quarter of 2020, the second-largest economy recorded the first contraction in decades due to the epidemic.  A root-to-branch shutdown of factories To curb the spread of the virus, the Chinese government imposed a lockdown in Wuhan, the epicenter, and other cities in Hubei province on January 23, 2020. A strict nationwide lockdown soon followed. Many factories remained closed in February, resulting in a plunge in manufacturing Purchasing Managers' Index (PMI). The shutdown of the “world’s factory” had severely disrupted global supply chains, especially automobile production. In March 2020, very few industrial sectors reported positive production growth.  The pharmaceuticals sector recorded a production increase, which was mainly driven by the global demand for vital medical supplies. China had exported over seven billion yuan worth of face masks. Ripple effects on global tourism Apart from the manufacturing industry, the prolonged closures of business had caused significant losses in various sectors in China. The travel and tourism sector was massively affected by a drastic decline in flight ticket sales  and hotel occupancy rates. The domestic tourism market expects a loss of 20 percent in revenues for 2020. Industry experts predicted that the global travel and tourism industry could lose about 2.5 trillion U.S. dollars in that year. 

In 2020, both the global trade volume and the growth in GDP dropped following the outbreak of COVID-19. It increased again in 2021, but is estimated to have slowed somewhat in 2023 following the rising global inflation rates.

The Global Economic Policy Uncertainty (GEPU) index was at its highest in May 2020, when the COVID-19 pandemic brought global economic uncertainty. The index was also high after the Russian invasion of Ukraine in February 2022. Moreover, the index rose sharply in November 2024 after Donald Trump was re-elected as President of the United States. Trump promised to impose trade tariffs against a range of countries, and did so against Canada, Mexico, and China in February 2024. The GEPU index is constructed by measuring how often the leading newspapers mention economic policy uncertainty in their articles.

United States New Security Issues: US Corporations data was reported at 132.525 USD bn in May 2018. This records a decrease from the previous number of 132.763 USD bn for Apr 2018. United States New Security Issues: US Corporations data is updated monthly, averaging 138.365 USD bn from Feb 2003 (Median) to May 2018, with 184 observations. The data reached an all-time high of 328.777 USD bn in Mar 2007 and a record low of 42.698 USD bn in Aug 2008. United States New Security Issues: US Corporations data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s USA – Table US.Z030: New Security Issues: Corporations.

The impact of the coronavirus (COVID-19) pandemic had not only brought the global economy to a standstill but set the clock backwards on the developmental progress of several nations. While the rate of infection in India did not appear to be as high as in other countries, precautionary measures adopted dealt a severe blow to the country’s major industries - with the service sector bearing the largest brunt of estimated loss. Manufacturing made a swift recovery in the following months.

Impact of key industries

The loss incurred by enforcing a lockdown in the country was estimated at 26 billion U.S. dollars and a significant decline in GDP growth is also expected in the June quarter of 2020. With the imposition of restrictions on transportation worldwide, the trade sector also took a hit. Exports and imports saw a drastic decline in the country especially in the case of essential commodities such as petroleum, food crops, and coal, among others.

Effect on business in India

The growth rate of the automotive business in India was expected to be the most adversely affected followed by the power supply and IT sectors. Furthermore, many startups, small and medium enterprises in India expected to face issues of supply disruption and a decrease in demand. The effects of aid from the Narendra Modi-led government arguably did little to help in the face of a faltering economy.

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Foreign Exchange Market Size 2025-2029

The foreign exchange market size is valued to increase by USD 582 billion, at a CAGR of 10.6% from 2024 to 2029. Growing urbanization and digitalization will drive the foreign exchange market.

Major Market Trends & Insights

Europe dominated the market and accounted for a 47% growth during the forecast period.
By Type - Reporting dealers segment was valued at USD 278.60 billion in 2023
By Trade Finance Instruments - Currency swaps segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 118.14 billion
Market Future Opportunities: USD 582.00 billion
CAGR from 2024 to 2029 : 10.6%

Market Summary

The market, a dynamic and intricate web of financial transactions, plays a pivotal role in facilitating global trade and economic interactions. Its primary function is to enable the conversion of one currency into another, thereby mitigating the risk of currency fluctuations for businesses and investors. Key drivers of this market include growing urbanization and digitalization, which have expanded trading opportunities to a 24x7 global economy. However, the uncertainty of future exchange rates poses a significant challenge, necessitating effective risk management strategies. The market's evolution reflects the increasing interconnectedness of the global economy. Transactions occur in a decentralized, over-the-counter system, with major trading centers in London, New York, and Tokyo.
Participants include commercial banks, investment banks, hedge funds, and individual investors, all seeking to capitalize on price differences between currencies. Trends shaping the market include the increasing use of automation and artificial intelligence to analyze market data and execute trades. Regulatory changes, such as the introduction of stricter capital requirements, also impact the market's functioning. Looking ahead, the market is expected to remain a vital component of the global financial landscape, with continued growth driven by increased trade and economic interdependence. However, challenges, such as regulatory changes and geopolitical risks, will necessitate adaptability and innovation from market participants.

What will be the Size of the Foreign Exchange Market during the forecast period?

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How is the Foreign Exchange Market Segmented ?

The foreign exchange industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Reporting dealers
  Financial institutions
  Non-financial customers


Trade Finance Instruments

  Currency swaps
  Outright forward and FX swaps
  FX options


Trading Platforms

  Electronic Trading
  Over-the-Counter (OTC)
  Mobile Trading


Geography

  North America

    US
    Canada


  Europe

    Germany
    Switzerland
    UK


  Middle East and Africa

    UAE


  APAC

    China
    India
    Japan


  South America

    Brazil


  Rest of World (ROW)

By Type Insights

The reporting dealers segment is estimated to witness significant growth during the forecast period.

The market, a dynamic and ever-evolving financial landscape, is characterized by constant activity and intricate patterns. Participants engage in various trading strategies, employing advanced tools such as stop-loss and take-profit orders on forex trading platforms. Real-time data feeds and order book dynamics facilitate trade execution speed, while market microstructure and slippage minimization techniques ensure efficient transactions. Currency correlation analysis and transaction cost analysis are integral to informed decision-making, with backtesting methodologies providing valuable insights. Currency forwards contracts, position sizing techniques, and forex derivatives pricing are essential components of risk management systems. Carry trade strategies, hedging strategies, and interest rate parity are popular tactics employed by market participants.

Algorithmic trading strategies, driven by options pricing models and trading algorithms' efficiency, significantly influence price discovery mechanisms. High-frequency trading and volatility modeling contribute to the market's liquidity risk management, while foreign exchange swaps and currency option valuation help manage risk. The market's complexities necessitate sophisticated risk management systems and intricate order routing optimization. Global payments systems facilitate the smooth transfer of funds, and liquidity risk management remains a critical concern for market participants. According to recent studies, The market is estimated to account for approximately USD6 trillion in daily trading volume, und

Of the four largest G7 and BRICS economies respectively, India and Brazil consistently had the highest monthly unemployment rates, while Russia and Japan had the lowest at just over two percent.

Singapore, Indonesia, and India had the highest consumer confidence of the 29 countries as of September 2024. On the other hand, consumer confidence was lowest in Turkey and Hungary. On average, consumer confidence in the 29 countries included in the survey reached an index score of 49.1.

Japan recorded the lowest growth rate in average wages of the three advanced major economies included here over recent years.

United States New Security Issues: US Corporations: Bonds: Financial data was reported at 70.540 USD bn in May 2018. This records a decrease from the previous number of 87.334 USD bn for Apr 2018. United States New Security Issues: US Corporations: Bonds: Financial data is updated monthly, averaging 64.910 USD bn from Feb 2003 (Median) to May 2018, with 184 observations. The data reached an all-time high of 258.994 USD bn in Mar 2007 and a record low of 2.445 USD bn in Oct 2008. United States New Security Issues: US Corporations: Bonds: Financial data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s USA – Table US.Z030: New Security Issues: Corporations.

In 2023, South Asia recorded the highest real gross domestic product (GDP) growth rate in the Asia-Pacific region at seven percent, at least 2.7 percentage points higher than other subregions. East Asia reported a real GDP growth rate of about 4.3 percent, while Southeast Asia's real GDP growth rate was around 4.1 percent that year. In 2025, South Asia was forecasted to remain the subregion with the highest real GDP growth rate at six percent, while Southeast Asia was projected to rank second at around 4.7 percent.

Of the seven largest developed economies, in 2023, the United States had the highest average wage by a significant margin at over 77,000 U.S. dollars per year. Canada had the second highest annual average wages, followed by Germany. Meanwhile, Japan had the lowest average wages out of the seven largest developed economies.

This statistic shows share of the main industrialized and emerging countries in the gross domestic product (GDP), adjusted for purchasing power, in 2024. That year, the share of China in the global gross domestic product (GDP) was about 19.45 percent.

United States New Security Issues: US Corporations: Stocks data was reported at 12.197 USD bn in May 2018. This records an increase from the previous number of 7.681 USD bn for Apr 2018. United States New Security Issues: US Corporations: Stocks data is updated monthly, averaging 11.863 USD bn from Feb 2003 (Median) to May 2018, with 184 observations. The data reached an all-time high of 67.729 USD bn in May 2009 and a record low of 1.302 USD bn in Dec 2008. United States New Security Issues: US Corporations: Stocks data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s USA – Table US.Z030: New Security Issues: Corporations.

United States New Security Issues: US Corporations: Stocks: Nonfinancial data was reported at 6.809 USD bn in May 2018. This records an increase from the previous number of 6.238 USD bn for Apr 2018. United States New Security Issues: US Corporations: Stocks: Nonfinancial data is updated monthly, averaging 5.349 USD bn from Feb 2003 (Median) to May 2018, with 184 observations. The data reached an all-time high of 23.709 USD bn in Feb 2015 and a record low of 641.000 USD mn in Dec 2008. United States New Security Issues: US Corporations: Stocks: Nonfinancial data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s USA – Table US.Z030: New Security Issues: Corporations.