Here is the checklist of major economic updates. After diwali holidays, market may witness high volatility during evening session.
USD: Core PCE Price Index m/m at 6:00 PM*
Measures: Change in the price of goods and services purchased by consumers, excluding food and energy
Released monthly, about 30 days after the month ends
Next Release Date Dec 1, 2022
This differs from Core CPI in that it only measures goods and services targeted towards and consumed by individuals. Prices are weighted according to total expenditure per item which gives important insights into consumer spending behavior. CPI is released about 10 days earlier and tends to garner most of the attention
It’s the Federal Reserve’s primary inflation measure. 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- [0.5%]
Previous- [0.6%]
Actual- ?
Impact- The forecast figure seems to be slightly neutral for base metals and the dollar while positive for bullions. The actual figure to release at 6:00 PM.
USD: 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 end
Next Release Date Nov 30, 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- [-4.4%]
Previous- [-2.0%]
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 7:30 PM.
USD: Revised UoM Consumer Sentiment at 7:30 PM
Measures: Level of a composite index based on surveyed consumers
Released monthly, usually on the last Friday of the current month
Next Release Date Nov 23, 2022
There are 2 versions of this data released 14 days apart – Preliminary and Revised. The Preliminary release is the earlier and thus tends to have the most impact
Financial confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity
Forecast- [59.7]
Previous- [59.8]
Actual- ?
Impact- The forecast figure seems to be neutral for base metals and the dollar while positive for bullions. The actual figure to release at 7:30 PM.
Source: Forex Factory
For more day to day economic updates stay tuned with us!!