Here we have various economic indicators which may impact the trading conditions of the market.Â
Goods Trade Balance at 6:00 PM
Measures-Difference in value between imported and exported goods during the reported month
Released monthly, about 30 days after the month ends
Next Release date: May 27, 2022
Trade in goods makes up about 75% of total trade, and therefore provides early insight into the Trade Balance data reported about 5 days later. A positive number indicates that more goods were exported than imported. Source first released in Jul 2015
Export demand and currency demand are directly linked because foreigners must buy the domestic currency to pay for the nation’s exports. Export demand also impacts production and prices at domestic manufacturers
Forecast- [-105.0B]
Previous- [106.6B]
Actual- ?
Impact- The forecast figure seems to be positive for base metals and dollar while negative for bullions. The actual figure to release at 6:00 PM.
Prelim Wholesale Inventories m/m at 6:00 PM
Measures- Change in the total value of goods held in inventory by wholesalers
Released monthly, about 30 days after the month ends
Next Release date: May 27, 2022
There are 2 versions of this report released about a week apart – Preliminary and Final. The Preliminary release, which the source first reported in Aug 2016, is the earliest and thus tends to have the most impact.
It’s a signal of future business spending because companies are more likely to purchase goods once they have depleted inventories
Forecast- [1.05%]
Previous- [2.5%]
Actual- ?
Impact- The forecast figure seems to be positive for base metals and dollar while negative for bullions. The actual figure to release at 6:00 PM.
Pending Home Sales m/m at 7:30 PM
Measures- Change in the number of homes under contract to be sold but still awaiting the closing transaction, excluding new construction
Released monthly, about 28 days after the month ends
Next Release date: May 26, 2022
This data is released about a week later than Existing Home Sales, but it’s more forward-looking as a contract is signed several weeks before the home is counted as sold;
It’s a leading indicator of economic health because the sale of a home triggers a wide-reaching ripple effect. For example, renovations are done by the new owners, a mortgage is sold by the financing bank, and brokers are paid to execute the transaction;
Forecast- [-1.0%]
Previous- [-4.1%]
Actual- ?
Impact- The forecast figure seems to be positive for base metals and dollar while negative for bullions. The actual figure to release at 7:30 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: May 04, 2022
While this is a US indicator, it most affects the loonie due to Canada’s sizable energy sector
The primary gauge of supply and demand imbalances in the market, which can lead to changes in production levels and price volatility;
Forecast- [0.1M]
Previous- [-0.8M]
Actual- ?
Impact- The forecast figure seems to be positive for crude oil. The actual figure to release at 8:00 PM.
ECB President Lagarde Speaks at 9:00 PM
Due to speak at the Manager Magazine’s Top 100 women in German business event, in Hamburg
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;