Here is the checklist of economic indicators which may drive the market thereby deciding the trend of the market.
USD: Core Retail Sales m/m at 7:00 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 Dec 15, 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- [0.5%]
Previous- [0.1%]
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 7:00 PM.
USD: Retail Sales m/m at 7:00 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 Dec 15, 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- [1.0%]
Previous- [0.0%]
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 7:00 PM.
EUR: ECB President Lagarde Speaks at 8:30 PM
Measures: Due to speak at the 20th Anniversary of European School, in Frankfurt
Next Release Nov 18, 2022
FF Notes ECB President Nov 2019 – Nov 2027. Volatility is often experienced during her speeches as traders attempt to decipher interest rate clues
As head of the ECB, which controls short term interest rates, she has more influence over the euro’s value than any other person. Traders scrutinize her public engagements as they are often used to drop subtle clues regarding future monetary policy
All: G20 Meetings at All Day
G20 meetings are attended by finance ministers and central bankers from 20 industrialized nations including the G7 nations – Canada, Italy, France, Germany, Japan, the UK, and the US. The meetings are closed to the press but officials usually talk with reporters throughout the day, and a formal statement covering policy shifts and meeting objectives is released after the meetings have concluded
While it’s not an institution, the G20 is an influential global policy-making body operating at the highest level, and their initiatives and policies can impact the currency markets
Crude Oil Inventories at 9:00 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 Nov 23, 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- [-2.0M]
Previous- [3.9M]
Actual- ?
Impact- The forecast figure seems to be supportive for Crude Oil The actual figure to release at 9:00 PM
Source: Forex Factory
For more regular indicators stay tuned with us!!