This week promises a healthy dose of potential market volatility, driven by a lineup of high-impact events from central bank decisions to the all-important U.S. jobs report. Let’s break down some of the key catalysts to watch in the days ahead:

Tuesday: Eyes on U.S. Services Activity

The U.S. ISM Services PMI for February will offer an early glimpse into the health of the dominant services sector. While a modest decline to 53.0 is projected, any significant deviation from this estimate in the final result could spark large price swings in the U.S. dollar by shifting FOMC interest rate expectations.

Wednesday: Central Bank Double-Header

Bank of Canada (BoC): No change in interest rates is anticipated, with traders largely prepared for another dovish hold. The bank’s tone and guidance on future rate policy should be closely watched for clues as to when the easing cycle might begin. Surprises here could create waves for the Canadian dollar.

Fed Focus: Fed Chair Powell delivers the Semiannual Monetary Policy Report to Congress and later testifies before the House Financial Services Committee. This offers an opportunity for Powell to give further insight into policymakers’ current thinking, particularly the timing of future rate cuts.

Thursday: European Central Bank Takes the Stage, Powell Redux

ECB Decision: While no rate changes are anticipated from the ECB, rece