Here is the checklist of leading indicators which helps analyst to decide the trend of the market.
GBP: CPI y/y at 11:30 AM
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 16, 2022
This is considered the UK’s most important inflation data because it’s used as the central bank’s inflation target
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- [10.0%]
Previous- [9.9%]
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 11:30 AM.
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 26, 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- [2.5M]
Previous- [9.9M]
Actual- ?
Impact- The forecast figure seems to be positive for Crude Oil The actual figure to release at 8:00 PM.
Source: Forex factory
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