The Top 8 Economic Events of This Week
There is a possibility that the financial markets will be impacted by this week's events 🚀
Investors are weighing the outlook while equity markets consolidate. In the meantime, a recession may lead to lower energy demand, which is putting pressure on the energy sector. Based on this, it is now especially important to follow the most important economic events.
👀 Our attention is focused on the following developments:
The RBNZ Cash Rate and Rate Statement – (Wednesday, July 13)
The RBNZ Cash Rate and Rate Statement will be released on Wednesday, July 13 at 5:00 GMT+3.
The Reserve Bank of New Zealand's rate statement is the primary tool the panel uses to communicate with investors about monetary policy. It contains the outcome of the vote on interest rates, discusses the economic outlook, and offers clues on the outcome of future votes.
Interest rates can have significant impact on the demand of the currency. The higher the interest rates, the stronger the demand. In addition to this, traders are also looking for indications whether the regulator will continue with the rate increases.
Beware of potential volatility for NZD.
The US Core Consumer Price Index (CPI) – (Wednesday, July 13)
On Wednesday, July 13, the US Core Consumer Price Index (CPI) will be released at 15:30 GMT+3.
The Core Consumer Price Index (CPI) measures the changes in the price of goods and services, excluding food and energy. The CPI measures price change from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.
Traders are specifically interested in this month's CPI figures, as it will give an indication of whether the Fed will increase the Fund Rate by 50 or 75 basis points.
Beware of potential volatility for US Dollar and US Stocks.
The Bank of Canada Monetary Policy Report and Rate / BOC Press Conference – (Wednesday, July 13)
On Wednesday, July 13, the Bank of Canada Monetary Policy Report and Rate / BOC Press Conference will be held at 18:00 GMT+3.
A quarterly report of the Bank of Canada's Governing Council presents the Bank's base-case projection for inflation and growth in the Canadian economy, and its assessment of risks.
Interest rates can have a significant impact on the demand for the currency. The higher the interest rates, the stronger the demand. A higher rate is already priced into the market, but traders will be eager to see the latest monetary report.
Beware of potential volatility for CAD and Canadian Stocks.
The Australian Employment Change - (Thursday, July 14)
The Australian Employment Change will be released on Thursday, July 14, at 04:30 GMT+3.
Employment Change measures the change in the number of people employed. Job creation is an important indicator of consumer spending. A higher than expected reading should be taken as positive/bullish for the AUD, while a lower than expected reading should be taken as negative/bearish for the AUD.
A stronger employment sector can allow the central bank more leeway and enable them to further increase interest rates.
Beware of potential volatility for AUD & AUS200.
The United States Producer Price Index (PPI) - (Thursday, July 14)
The United States Producer Price Index (PPI) will be released on Thursday, July 14, at 15:30 GMT+3.
The Producer Price Index (PPI) is a family of indexes that measures the average change over time in selling prices received by domestic producers of goods and services. PPI measures the price change from the perspective of the seller.
A higher PPI figure supports the price of the US Dollar.
So, beware of potential volatility for US Dollar and US stocks.
The Chinese GDP – (Friday, July 15)
The Chinese GDP will be released on Friday, July 15, at 05:00 GMT+3.
In China, Gross Domestic Product is divided into three sectors: Primary, Secondary, and Tertiary. Published data shows the change in the country's GDP, taking into account current and projected market conditions in all sectors of the Chinese economy.
The exact influence is not certain and is likely to affect global inflation and the demand for oil products as China is the largest importer. It also has the ability to affect safe-haven assets such as the USD.
Beware of potential volatility for CNY and US Dollar.
The United States Core Retail Sales – (Friday, July 15)
The United States Core Retail Sales will be released on Friday, July 15, at 15:30 GMT+3.
Core Retail Sales measures the change in the total value of sales at the retail level in the U.S., excluding automobiles. It is an important indicator of consumer spending and is also considered a pace indicator for the U.S. economy.
The higher, the better for both the currency and the stock market.
Beware of potential volatility for USD and Stocks.
The Prelim Consumer Confidence – (Friday, July 15)
The Prelim Consumer Confidence will be released on Friday, July 15, at 17:00 GMT+3.
The Prelim Consumer Confidence Survey reflects prevailing business conditions and likely developments for the months ahead. This monthly report details consumer attitudes, buying intentions, vacation plans, and consumer expectations for inflation, stock prices, and interest rates.
The higher, the better for both the currency and the stock market.
Beware of potential volatility for USD and Stocks.
That's it for this week!
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