Here is the list of economic updates. Today we do not have major economic updates but lets wait for the outcome of the market.
EUR: German ifo Business Climate at 1:30 PM
Measures: Level of a composite index based on surveyed manufacturers, builders, wholesalers, services, and retailers
Released monthly, around 3 weeks into the current month
Next Release Date Oct 26, 2022
This survey is highly respected due to its large sample size and historic correlation with German and wider Eurozone economic conditions. It tends to create a hefty market impact upon release. Source changed series from a base year of 2000 to a base year of 2005, as of May 2011, and changed series to include services, as of Apr 2018
It’s a leading indicator of economic health – businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment
Forecast- [86.9]
Previous- [88.5]
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 1:30 PM.
EUR: ECB President Lagarde Speaks at 6:30 PM
Measures: Due to testify before the Committee on Economic and Monetary Affairs, in Brussels
Next Release Date Sep 28, 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
Source: Forex Factory
For more economic data stay tuned with us…!!