Here is the list of specific events. Today, at 11:00 PM we will have the results of FOMC meet. Lets see what FED will decide. Whether they would be stringent or lenient towards their hike in interest rate decision.
USD: Core Durable Goods Orders m/m at 6:00 PM
Measures: Change in the total value of new purchase orders placed with manufacturers for durable goods, excluding transportation items
Released monthly, about 26 days after the month ends
Next Release Date Aug 24, 2022
This data is usually revised via the Factory Orders report released about a week later. Orders for aircraft are volatile and can severely distort the underlying trend. The Core data is therefore appears to be a better gauge of purchase order trends
It’s a leading indicator of production – rising purchase orders signal that manufacturers will increase activity as they work to fill the orders;
Forecast- [0.2%]
Previous- [0.7%]
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: Durable Goods Orders m/m at 6:00 PM
Measures: Change in the total value of new purchase orders placed with manufacturers for durable goods
Released monthly, about 26 days after the month ends
Next Release Date Aug 24, 2022
This data is usually revised via the Factory Orders report released about a week later. Durable goods are defined as hard products having a life expectancy of more than 3 years, such as automobiles, computers, appliances, and airplanes
It’s a leading indicator of production – rising purchase orders signal that manufacturers will increase activity as they work to fill the orders;
Forecast- [-0.5%]
Previous- [0.8%]
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: Pending Home Sales m/m at 7:30 PM
Measures: Change in the number of homes under contract to be sold but still awaiting the closing transaction, excluding new construction
Released monthly, about 28 days after the month end
Next Release Date Aug 24, 2022
This data is released about a week later than Existing Home Sales, but it’s more forward-looking as a contract is signed several weeks before the home is counted as sold
It’s a leading indicator of economic health because the sale of a home triggers a wide-reaching ripple effect. For example, renovations are done by the new owners, a mortgage is sold by the financing bank, and brokers are paid to execute the transaction
Forecast- [-1.1%]
Previous- [0.7%]
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 7:30 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 Aug 3, 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- [-0.4M]
Actual- ?
Impact– The forecast figure seems to be slightly positive for Crude Oil The actual figure to release at 8:00 PM.
USD: FOMC Statement at 11:30 PM
Scheduled 8 times per year
Next Release Sept 21, 2022
The FOMC usually changes the statement slightly at each release. It’s these changes that traders focus on
It’s the primary tool the FOMC uses to communicate with investors about monetary policy. It contains the outcome of their vote on interest rates and other policy measures, along with commentary about the economic conditions that influenced their votes. Most importantly, it discusses the economic outlook and offers clues on the outcome of future votes
USD: Federal Funds Rate at 11:30 PM
Measures: Interest rate at which depository institutions lend balances held at the Federal Reserve to other depository institutions overnight
Scheduled 8 times per year
Next Release Sept 21, 2022
The rate decision is usually priced into the market, so it tends to be overshadowed by the FOMC Statement, which is focused on the future
Short term interest rates are the paramount factor in currency valuation – traders look at most other indicators merely to predict how rates will change in the future
Forecast- [2.50%]
Previous- [1.75%]
Actual- ?
Impact- The forecast figure seems to be negative for base metals and the dollar while negative for bullions. The actual figure is to release at 11:30 PM.
Source: Forex Factory
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