Here we have various economic data which may impact the trading conditions of the market. Out of so many indicators, FED meet comes with largest importance.
EUR Spanish Unemployment Change at 7:30 PM*
Measures: Change in the number of unemployed people during the previous month
Released monthly, about 3 days after the month ends
Next Release date: June 03, 2022
This is among the few non-seasonally adjusted numbers reported on the calendar
Although it’s generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions
Forecast- [-75.0K]
Previous- [-2.9K]
Actual- ?
Impact- The forecast figure seems negative for EUR and positive for dollar.
USD ADP Non-Farm Employment Change at 5:45 PM*
Measures: Estimated change in the number of employed people during the previous month, excluding the farming industry and government
Released monthly, usually on the first Wednesday after the month ends
Next Release date: June 02, 2022
This data provides an early look at employment growth, usually 2 days ahead of the government-released employment data that it’s designed to mimic. Source changed series calculation formula in Feb 2007, Dec 2008, and Nov 2012, to better align with government data
Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity;
Forecast- [382K]
Previous- [455K]
Actual- ?
Impact- The forecast figure seems to be negative for the dollar while positive for billions. The actual figure release at 5:45 PM.
Crude Oil Inventories at 8:00 PM
Measures: Change in the number of barrels of crude oil held in inventory by commercial firms during the past week;
Released weekly, 4 days after the week ends
Next Release date: May 11, 2022
While this is a US indicator, it most affects the loonie due to Canada’s sizable energy sector
It’s the primary gauge of supply and demand imbalances in the market, which can lead to changes in production levels and price volatility
Forecast- [-0.7M]
Previous- [0.7M]
Actual- ?
Impact- The forecast figure seems to be supportive for Crude Oil prices. The actual figure release at 5:45 PM.
FOMC Statement at 11:30 PM
Measures: More hawkish than expected is good for currency
Scheduled 8 times per year
Next Release date: June 15, 2022
The FOMC usually changes the statement slightly at each release. It’s these changes that traders focus on
It’s the primary tool the FOMC uses to communicate with investors about monetary policy. It contains the outcome of their vote on interest rates and other policy measures, along with commentary about the economic conditions that influenced their votes. Most importantly, it discusses the economic outlook and offers clues on the outcome of future votes
Federal Funds Rate at 11:30 PM
Measures: Interest rate at which depository institutions lend balances held at the Federal Reserve to other depository institutions overnight;
Scheduled 8 times per year
Next Release Date: Jun 15, 2022
The rate decision is usually priced into the market, so it tends to be overshadowed by the FOMC Statement, which is focused on the future
Short term interest rates are the paramount factor in currency valuation – traders look at most other indicators merely to predict how rates will change in the future
Forecast- [<1.00%]
Previous- [<0.50%]
Actual- ?