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Top 3 Economic Events To Watch | December 19 – 23

Top 3 Economic Events To Watch | December 19 – 23

19 December 2022

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The current week concludes preparations for Christmas and New Year's Day 2023 🎄

Therefore, there are no major economic data due in anticipation of a long weekend, but a few data points may be of interest this week.

Specifically, in Japan, the latest interest rate decision will be announced on Tuesday. Also, US CB Consumer Confidence will be released on Wednesday and US Core PCE Price Index data on Friday.

Let's dive into this in more detail 🔻

BoJ Monetary Policy Statement & Press Conference – Tuesday, December 20th

📅 BoJ Monetary Policy Statement & Press Conference will be held on Tuesday, December 20.

Haruhiko Kuroda, BoJ's governor, will give a press conference in order to communicate with investors regarding the monetary policy. He will talk about the factors that affected the most recent interest rate decision, the overall economic outlook, inflation, and give clues regarding future monetary policy.

Asset(s) likely to be affected: $JPY and $NIKKEI225 🇯🇵

Why is this event important?

❗ It's expected that the country will report a further increase in inflation from 3.7% to 3.9% for November. Based on this, the Japanese regulator may decide to end the era of negative interest rates. This could cause increased volatility in the Yen and Japanese stocks.

CB Consumer Confidence – Wednesday, December 21st

📅 US CB Consumer Confidence will be released on Wednesday, December 21 at 17:00 (GMT +2).

Conference Board (CB) Consumer Confidence measures the level of consumer confidence in economic activity. It is a leading indicator as it can predict consumer spending, which plays a major role in overall economic activity.

Asset(s) likely to be affected: $USD and $US Stocks 🇺🇸

Why is this event important?

❗ A high level of consumer confidence stimulates economic expansion, while a low level can lead to an economic downturn. After the publication of this index, higher volatility is expected in the stock index. A higher index reading can serve as a positive signal for investors, and vice versa.

Core PCE Price Index Monthly – Friday, December 23rd

📅 On Friday, December 23, the monthly US Core PCE Price Index will be released at 15:30 (GMT+2).

The Core PCE Price Index is defined as personal consumption expenditure prices excluding food and energy. This economic indicator measures the prices paid by consumers for goods and services to reveal underlying inflation trends. It is measured without the volatility caused by movements in food and energy prices.

Asset(s) likely to be affected: $USD and $US Stocks 🇺🇸

Why is this event important?

❗ A rising Core PCE Price Index is also considered a measure of economic growth: while personal spending stimulates inflationary pressures, it could lead to raising interest rates. A high reading is positive (or Bullish) for the $USD.

That's it for this week! 👋

IMPORTANT NOTICE: Any news, opinions, research, analyses, prices or other information contained in this article are provided as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and therefore, it is not subject to any prohibition on dealing ahead of dissemination. Past performance is not an indication of possible future performance. Any action you take upon the information in this article is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of this article.

RISK WARNING: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail client investors lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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