This week is full of important economic events. The central banks of Europe, Canada, and Japan will hold monetary policy and interest rate meetings. Australia, Singapore, and several European countries will release new inflation data. China will publish a bunch of macro statistics, including the third quarter GDP, just after Xi Jinping was re-elected for a third term. At the same time, investors should not forget the political situation in the UK, where there will be a battle for the position of the new Prime Minister. And all of this will take place against the backdrop of the ongoing reporting season, where Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN), and Apple (AAPL) will be reporting this week.
Monday, October 24
Monday will unusually get off to a very active start. Traders and investors will focus on the delayed data on China, which has been postponed until this week due to the re-election of Xi Jinping. This statistic will have a big impact on the Asian market. Traders should also keep an eye on PMI data for various countries. It’s a bank holiday in New Zealand and Japan.
Main events of the day:
- – Australia Manufacturing PMI (m/m) at 1:00 (GMT+3);
- – Australia Services PMI (m/m) at 01:00 (GMT+3);
- – Japan Manufacturing PMI (m/m) at 03:30 (GMT+3);
- – Japan Services PMI (m/m) at 03:30 (GMT+3);
- – China GDP (q/q) at 05:00 (GMT+3);
- – China Retail Sales (m/m) at 05:00 (GMT+3);
- – China Industrial Production (m/m) at 05:00 (GMT+3);
- – China Unemployment Rate (m/m) at 05:00 (GMT+3);
- – China Exports (m/m) at 06:00 (GMT+3);
- – China Imports (m/m) at 06:00 (GMT+3);
- – French Manufacturing PMI (m/m) at 10:15 (GMT+3);
- – French Services PMI (m/m) at 10:15 (GMT+3);
- – German Manufacturing PMI (m/m) at 10:30 (GMT+3);
- – German Services PMI (m/m) at 10:30 (GMT+3);
- – Eurozone Manufacturing PMI (m/m) at 11:00 (GMT+3);
- – Eurozone Services PMI (m/m) at 11:00 (GMT+3);
- – UK Manufacturing PMI (m/m) at 11:30 (GMT+3);
- – UK Services PMI (m/m) at 11:30 (GMT+3);
- – US Manufacturing PMI (m/m) at 16:45 (GMT+3);
- – US Services PMI (m/m) at 16:45 (GMT+3);
- – US Treasury Secretary Yellen Speaks at 18:00 (GMT+3).
Tuesday, October 25
Traders will take a bit of a hiatus on Tuesday, as there will be much fewer economic events than on Monday. The main events will be inflation data in Singapore and the IFO report on Germany's business climate. Analysts expect business activity to continue to decline in Germany, while inflation in Singapore is expected to rise to 5.2% y/y.
Main events of the day:
- – Singapore Consumer Price Index (m/m) at 08:00 (GMT+3);
- – German Ifo Business Climate (m/m) at 11:00 (GMT+3);
- – US CB Consumer Confidence (m/m) at 17:00 (GMT+3);
- – FOMC Member Waller Speaks at 20:55 (GMT+3).
Wednesday, October 26
On Wednesday, investors will focus on the Interest Rate Decision from the Bank of Canada (BoC). Economists are predicting a 0.5% rate hike, but there could be surprises in the form of a 0.75% hike as core inflation in Canada shows no signs of slowing. Investors should also not miss CPI data in Australia, where inflation is expected to jump from 6.1% to 7% year-over-year.
Main events of the day:
- – Australia Consumer Price Index (m/m) at 03:30 (GMT+3);
- – US New Home Sales (m/m) at 17:00 (GMT+3);
- – Canada BoC Monetary Policy Report at 17:00 (GMT+3);
- – Canada BoC Interest Rate Decision at 17:00 (GMT+3);
- – US Crude Oil Reserves (w/w) at 17:30 (GMT+3);
- – Canada BoC Press Conference at 18:00 (GMT+3).
Thursday, October 27
The European Central Bank will unveil a new interest rate on Thursday. Analysts expect a 0.75% rate hike as inflation in the Eurozone reached 10%, a multi-year record. Traders will also pay special attention to the US GDP data for the third quarter, which is expected to grow by 2.1% y/y after two consecutive quarters of contraction.
Main events of the day:
- – Eurozone Monetary Policy Statement at 15:15 (GMT+3);
- – Eurozone Interest Rate Decision at 15:15 (GMT+3);
- – US Initial Jobless Claims (w/w) at 15:30 (GMT+3);
- – US GDP (q/q) at 15:30 (GMT+3);
- – US Durable Goods Orders (m/m) at 15:30 (GMT+3);
- – Eurozone ECB Press Conference at 15:45 (GMT+3);
- – US Natural Gas Storage (w/w) at 17:30 (GMT+3).
Friday, October 28
The Central Bank of Japan will hold meetings on monetary policy and interest rates. Experts believe that the Bank of Japan will not move away from the soft monetary policy, even though the Ministry of Finance has once again intervened to protect the yen from further decline. In Europe, there will be plenty of data on GDP and inflation. Traders should also keep an eye on the Fed's preferred measure of inflation - the Personal Consumption Expenditures (PCE) Index.
Main events of the day:
- – Japan Unemployment Rate (m/m) at 02:30 (GMT+3);
- – Japan Tokyo Core CPI (m/m) at 02:30 (GMT+3);
- – Japan BoJ Kuroda Speaks at 03:00 (GMT+3);
- – Japan BoJ Interest Rate Decision at 06:00 (GMT+3);
- – Japan BoJ Monetary Policy Statement at 06:00 (GMT+3);
- – Japan BoJ Outlook Report at 06:00 (GMT+3);
- – Japan BoJ Press Conference (Tentative);
- – Eurozone French GDP (m/m) at 08:30 (GMT+3);
- – Eurozone French CPI (m/m) at 09:45 (GMT+3);
- – Eurozone Spanish GDP (m/m) at 10:00 (GMT+3);
- – Eurozone Spanish CPI (m/m) at 10:00 (GMT+3);
- – Eurozone Italian CPI (m/m) at 12:00 (GMT+3);
- – Eurozone German GDP (m/m) at 11:00 (GMT+3);
- – Eurozone German CPI (m/m) at 15:00 (GMT+3);
- – US PCE Price index (m/m) at 15:30 (GMT+3);
- – Canada GDP (m/m) at 15:30 (GMT+3);
- – US Michigan Consumer Sentiment (m/m) at 17:00 (GMT+3);
- – US Pending Home Sales (m/m) at 17:00 (GMT+3).
by , 2022.10.24
We advise you to get acquainted with the daily forecasts for the major currency pairs.This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
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