Today, we have a list of various economic forecasts. Furthermore, US CPI comes with maximum importance. If the inflation number rises then we may see a downside panic in the market.
GBP : GDP m/m at 11:30 AM
Measures: Change in the total value of all goods and services produced by the economy
Released monthly, about 40 days after the month ends;
Next Release Date Aug 12, 2022
Source first released in Jul 2018
It’s the broadest measure of economic activity and the primary gauge of the economy’s health
Forecast- [0.1%]
Previous- [-0.3%]
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 11:30 AM.
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 Aug 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- [1.1%]
Previous- [1.0%]
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 Aug 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
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- [0.5%]
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.
Crude Oil Inventories at 8:30 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 Jul 20, 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- [-1.5M]
Previous- [8.2M]
Actual- ?
Impact- The forecast figure seems to be supportive for Crude Oil The actual figure to release at 8:00 PM
Source: Forex factory
For more day to day economic forecast updates, stay tuned with us!