Here is the checklist of major events which may define the market situations. Furthermore, all eyes on FOMC statement.
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 Nov 9, 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- [-0.2M]
Previous- [2.6M]
Actual- ?
Impact- The forecast figure seems to be positive for Crude Oil The actual figure to release at 8:00 PM.
USD: FOMC Statement at 11:30 PM
Scheduled 8 times per year
Next Release Dec 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
USD: 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 Dec 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- [4.00%]
Previous- [3.25%]
Actual- ?
Impact- The forecast figure seems to be negative for base metals and the dollar while positive for bullions. The actual figure is to release at 11:30 PM.
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 Nov 30, 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
Forecast- [178K]
Previous- [208K]
Actual- ?
Impact- The Forecast figure is negative for base metals and the dollar while positive for bullions. The actual figure is release at 5:45pm.
Source: Forex Factory
For more major events stay tuned with us!!