This week looks calmer compared to the last one, when four central banks announced their rate decisions. That being said, we shouldn’t get too comfortable! On the agenda: speeches from top monetary officials, business activity data from the US and eurozone, housing market updates, and oil inventory reports. All of these events could spark spikes of local volatility.
United Kingdom:
● 1:45 p.m. GMT — United Kingdom: Speech by BoE Monetary Policy Committee member Peel. Comments from key representatives of central banks are always interesting. We're looking for signals about future monetary policy.
Eurozone:
● 1:45 p.m. GMT: Speech by ECB official Lane. Likewise, we await hints about further steps from the European Central Bank that will impact the euro exchange rate.
United States:
● 4:00 p.m. GMT: Speech by FOMC member Williams. The Fed official's speech could give investors new guidance on the outlook for the US economy and inflation.
Eurozone:
● 8:00 a.m. GMT: Manufacturing Purchasing Managers' Index (PMI) (September). (Previous: 50.7; Forecast: 50.7). It reflects the state of the industrial sector, a crucial indicator of the health of the Eurozone economy.
● 8:00 a.m. GMT: S&P Global Composite Purchasing Managers' Index (PMI) (September). (Previous: 51.1; Forecast: 51.0). This indicator offers a broader look at economic activity.
United States:
● 1:45 p.m. GMT: Manufacturing Purchasing Managers' Index (PMI) (September). (Previous: 51.8; Forecast: 53.0). US manufacturing data is important for the dollar.
● 1:45 p.m. GMT — United States: Services Purchasing Managers' Index (PMI) (September). (Previous: 53.8; Forecast: 54.5). PMI reflects the dynamics of the largest sector of the US economy.
United States:
● 2:00 p.m. GMT: New Home Sales (August). (Previous: 651K; Forecast: 652K). An indicator of the state of the housing market and consumer activity.
● 2:30 p.m. GMT: Crude Oil Inventories. (Previous: -9.285M). Traditionally, it has an impact on global oil prices and commodity currencies, accordingly.
Switzerland:
● 7:30 a.m. GMT: Swiss National Bank Interest Rate Decision (Q3). (Previous: 0.00%; Forecast: 0.00%). The rate decision and accompanying statement could significantly impact the Swiss franc.
United States:
● 12:30 p.m. GMT: GDP (Quarter-over-Quarter) (Q2). (Previous: 3.3%; Forecast: 3.3%). This is a key indicator of US economic growth. Large deviations from the forecast will trigger a market reaction.
● 12:30 p.m. GMT: Initial Jobless Claims. (Previous: 235K; Forecast: 231K). This is a key indicator of the health of the labor market. A decline in claims is positive for the USD.
● 2:00 p.m. GMT — United States: Existing Home Sales (August). (Previous: 3.96M; Forecast: 4.01M). Another indicator of the health of the US housing market.
Japan:
● 11:30 p.m. GMT: Core Tokyo Consumer Price Index (CPI) (Year-over-Year) (September). (Previous: 2.8%; Forecast: 2.5%). This is an early indicator of Japanese inflation, which impacts the yen.
United States:
● 12:30 p.m. GMT: Core Personal Consumption Expenditures Price Index (Year-over-Year) (August). (Previous: 2.9%). The expected forecast will be released closer to the date. This is a key inflation indicator for the Fed.
●12:30 p.m. GMT: Core Personal Consumption Expenditures Price Index (Month-over-Month) (August). (Previous: 0.2%; Forecast: 0.3%). This reflects monthly inflation dynamics, which the Fed also keeps a close eye on.
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