Below is the list of specific events and data. Today seems like an important day. We expect a volatility in the market in the evening trading session.
USD: Philly Fed Manufacturing Index at 6:00 PM
Measures: Level of a diffusion index based on surveyed manufacturers in Philadelphia
Released monthly, on the third Thursday of the current month
Next Release Aug 18, 2022
Economic Indicator: Above 0.0 indicates improving conditions, below indicates worsening conditions
It’s a leading indicator of economic health – businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment
Forecast- [1.7]
Previous- [-3.3]
Actual- ?
Impact- The forecast figure seems to be positive for base metals and the dollar while negative for bullions. The actual figure is 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 Jul 28, 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- [240K]
Previous- [244K]
Actual- ?
Impact- The forecast figure seems to be slightly positive for base metals and the dollar while negative for bullions. The actual figure to release at 6:00 PM.
EUR: ECB Press Conference at 5:15 PM
Scheduled 8 times per year, about 45 minutes after the Minimum Bid Rate is announced
Next Release Sep 8, 2022
The press conference is about an hour long and has 2 parts – first a prepared statement is read, then the conference is open to press questions. The questions often lead to unscripted answers that create heavy market volatility. The press conference is webcasted on the ECB website with a slight delay from real-time. Source changed release frequency from monthly to eight times per year as of Jan 2015
It’s the primary method the ECB uses to communicate with investors regarding monetary policy. It covers in detail the factors that affected the most recent interest rate and other policy decisions, such as the overall economic outlook and inflation. Most importantly, it provides clues regarding future monetary policy
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 Jul 28, 2022
Inventories are used to maintain price stability during supply shortages and periods of increasing demand
Forecast- [45B]
Previous- [58B]
Actual- ?
Impact- The forecast figure seems to be positive for Natural Gas The actual figure is to release at 8:00 PM.
Source: Forex factory
For more events and updates, stay tuned with us!!