Here is the list of economic events. Today we have major events but still retail sales are more significant for US Economy.
GBP: CPI y/y at 11:30 AM
Measures: Change in the price of goods and services purchased by consumers
Released monthly, about 16 days after the month ends
Next Release Sep 14, 2022
This is considered the UK’s most important inflation data because it’s used as the central bank’s inflation target
Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate
Forecast- [9.8%]
Previous- [9.4%]
Actual- ?
Impact- The forecast figure seems to be slightly positive for base metals and the dollar while negative for bullions. The actual figure is to release at 11:30 AM.
USD: Core Retail Sales m/m at 6:00 PM
Measures: Change in the total value of sales at the retail level, excluding automobiles
Released monthly, about 16 days after the month ends
Next Release Date Sep 14, 2022
Automobile sales account for about 20% of Retail Sales, but they tend to be very volatile and distort the underlying trend. The Core data is therefore thought to be a better gauge of spending trends
Forecast- [-0.1%]
Previous- [1.0%]
Actual- ?
Impact- The forecast figure seems to be slightly negative for base metals and the dollar while positive for bullions. The actual figure is to release at 6:00 PM.
USD: Retail Sales m/m at 6:00 PM
Measures: Change in the total value of sales at the retail level
Released monthly, about 16 days after the month ends
Next Release Date Sep 14, 2022
This is the earliest and broadest look at vital consumer spending data
It’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity
Forecast- [0.1%]
Previous- [1.0%]
Actual- ?
Impact- The forecast figure seems to be neutral for base metals and the dollar while positive for bullions. The actual figure is to release at 6:00 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 Aug 24, 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- [0.3M]
Previous- [5.5M]
Actual- ?
Impact- The forecast figure seems to be supportive for Crude Oil The actual figure to release at 8:00 PM.
FOMC Meeting Minutes at 11:30 PM
Scheduled 8 times per year, 3 weeks after the Federal Funds Rate is announced
Next Release Oct 12, 2022
It’s a detailed record of the FOMC’s most recent meeting, providing in-depth insights into the economic and financial conditions that influenced their vote on where to set interest rates
Source: Forex Factory
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