Here is the checklist of various economic data which may influence the market.
EUR: German Prelim CPI m/m -ALL DAY
Measures: Change in the price of goods and services purchased by consumers.
Released monthly, around the end of the current month.
Next Release Jul 29, 2022
Listed as an ‘All Day’ event because the ‘Actual’ is comprised of data from 6 German states which report their CPI throughout the day. There are 2 versions of CPI released about 15 days apart – Preliminary and Final. The Preliminary release is the Eurozone’s earliest major consumer inflation.
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- [0.4%]
Previous- [0.9%]
Actual- ?
Impact- The forecast figure seems to be slightly negative for base metals and the dollar while positive for bullions.
OPEC Meetings -ALL DAY*
Next Release Date Jul 5, 2022
OPEC meetings are usually held in Vienna and are attended by representatives from 15 oil-rich nations. They discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce. 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.
OPEC nations represent around 40% of the world’s oil supply and are unified in their oil production levels. With so much control over oil’s supply-side, shifts in their production levels can have a significant impact on oil prices.
EUR: ECB President Lagarde Speaks at 6:30 PM
Measures: Due to participate in a panel discussion titled “Policy panel” at the European Central Bank Forum on Central Banking, in Portugal.
Next Release Date Jul 29, 2022
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.
GBP: BOE Gov Bailey Speaks at 6:30 PM
Next Release Date Jul 29, 2022
BOE Governor Mar 2020 – Mar 2028. Volatility is often experienced during his speeches as traders attempt to decipher interest rate clues.
As head of the central bank, which controls short-term interest rates, he has more influence over the nation’s currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy.
USD: Fed Chair Powell Speaks at 6:30 PM
Measures: Due to participating in a panel discussion titled “Policy panel” at the European Central Bank Forum on Central Banking, in Portugal.
Next Release Date Jul 29, 2022
Fed Chair Feb 2018 – Feb 2026. Fed Governor May 2012 – Jan 2028. Volatility is often experienced during his speeches as traders attempt to decipher interest rate clues.
As head of the central bank, which controls short-term interest rates, he has more influence over the nation’s currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy.
Source: Forex Factory
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