Today we have two major economic updates which may influence the market. Furthermore, volatility may persist till an upcoming FED meet.
GBP: Retail Sales m/m at 11:30 AM
Measures: Change in the total value of inflation-adjusted sales at the retail level
Released monthly, about 20 days after the month ends
Next Release Date Oct 21, 2022
Source changed series calculation formula as of Feb 2010
It’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity
Forecast- [-0.5%]
Previous- [0.3%]
Actual- ?
Impact- The forecast figure seems to be slightly negative for base metals and the dollar while positive for bullions. The actual figure is to release at 11:30 AM.
USD: Prelim UoM Consumer Sentiment at 7:30 PM
Measures: Level of a composite index based on surveyed consumers
Released monthly, around the middle of the current month
Next Release Date Oct 14, 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- [60.0]
Previous- [58.2]
Actual- ?
Impact- The forecast figure seems to be slightly positive for base metals and the dollar while positive for bullions. The actual figure is to release at 7:30 PM.
Source: Forex Factory
For more day to day economic updates stay tuned with us!!