Today, we have a list of numerous economic core indicators which may determine the overall trend of the market.
USD: Core Durable Goods Orders m/m at 6:00 PM
Measures: Change in the total value of new purchase orders placed with manufacturers for durable goods, excluding transportation items
Released monthly, about 26 days after the month ends
Next Release Date: Jun 27, 2022
This data is usually revised via the Factory Orders report released about a week later. Orders for aircraft are volatile and can severely distort the underlying trend. The Core data is therefore thought to be a better gauge of purchase order trends
It’s a leading indicator of production – rising purchase orders signal that manufacturers will increase activity as they work to fill the orders
Forecast- [0.5%]
Previous- [1.4%]
Actual- ?
Impact- The forecast figure seems to be negative for base metals and the dollar while positive for bullions. The actual figure to release at 6:00 PM.
USD: Durable Goods Orders m/m at 6:00 PM
Measures: Change in the total value of new purchase orders placed with manufacturers for durable goods
Released monthly, about 26 days after the month ends
Next Release Date: Jun 27, 2022
This data is usually revised via the Factory Orders report released about a week later. Durable goods are hard products thereby having a life expectancy of more than 3 years, such as automobiles, computers, appliances, and airplanes
It’s a leading indicator of production – rising purchase orders signal that manufacturers will increase activity as they work to fill the orders
Forecast- [0.6%]
Previous- [1.1%]
Actual- ?
Impact- The forecast figure seems to be slightly negative for base metals and the dollar while positive for bullions. The actual figure 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: June 2, 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- [-2.2M]
Previous- [-3.4M]
Actual- ?
Impact- The forecast figure seems to be negative 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: Jul 6, 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