Today we have a list of major economic updates which may guide the market globally. Just be cautious traders before carrying your trade.
USD: CPI m/m at 6:00 PM
Measures: Change in the price of goods and services purchased by consumers
Released monthly, about 16 days after the month ends
Next Release Date Nov 10, 2022
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- [0.2%]
Previous- [0.1%]
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 6:00 PM.
USD: CPI m/m at 6:00 PM
Measures: Change in the price of goods and services purchased by consumers
Released monthly, about 16 days after the month ends
Next Release Date Nov 10, 2022
This is among the few non-seasonally adjusted numbers reported on the calendar
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- [8.1%]
Previous- [8.3%]
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 6:00 PM.
USD: Core CPI 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 16 days after the month ends
Next Release Date Nov 10, 2022
Food and energy prices account for about a quarter of CPI, but they tend to be very volatile and distort the underlying trend. The FOMC usually pays more attention to the Core data – so do traders
Why Traders
Care 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- [0.6%]
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 6:00 PM.
USD: Unemployment Claims at 6:00 PM
Measures: The number of individuals who filed for unemployment insurance for the first time during the past week
Released weekly, usually on the first Thursday after the week ends
Next Release Oct 20, 2022
This is the nation’s earliest economic data. The market impact fluctuates from week to week – there tends to be more focus on the release when traders need to diagnose recent developments, or when the reading is at extremes
Although it’s generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Unemployment is also a major consideration for those steering the country’s monetary policy
Forecast- [225K]
Previous- [219K]
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 6:00 PM.
Natural Gas Storage at 8:00 PM
Measures: Change in the number of cubic feet of natural gas held in underground storage during the past week
Released weekly, 5 days after the week ends
Next Release Date Oct 20, 2022
Inventories are used to maintain price stability during supply shortages and periods of increasing demand
Forecast- [126B]
Previous- [129B]
Actual- ?
Impact- The forecast figure seems to be slightly neutral for Natural Gas The actual figure is to release at 8:00 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 Oct 19, 2022
While this is a US indicator, it most affects the loonie due to Canada’s sizable energy sector
It’s the primary gauge of supply and demand imbalances in the market, which can lead to changes in production levels and price volatility
Forecast- [0.9M]
Previous- [-1.4M]
Actual- ?
Impact- The forecast figure seems to be negative for Crude Oil The actual figure to release at 8:00 PM.
Source: Forex Factory
For more economic updates stay tuned with us…!!