Top Economic Events To Watch | November 25 – November 29 – 2024

The cryptocurrency market remains in the spotlight, showing impressive momentum fueled by growing institutional interest and favorable market conditions.

The upcoming week, from November 25 to 29, is set to be pivotal for traders and investors as key economic data, including the US PCE inflation index, FOMC Minutes, and Q3 GDP figures, are scheduled for release.

These events could serve as major catalysts for price movements, and the market is eagerly anticipating their outcomes.

🇺🇸 CB Consumer Confidence Index — November 26, at 17:00 (GMT+2)

The CB Consumer Confidence Index, a critical indicator of economic sentiment in the United States, is set to kick off an active trading week. This index measures how optimistic or pessimistic consumers feel about their financial situation, reflecting their confidence in the economy's strength.

The upcoming release is forecasted at 109.3, slightly higher than the previous reading of 108.7, signaling potential improvements in consumer outlook.

Assets that may be impacted by this release: $XAUUSD, $EURUSD, $NAS100, $US30, $SPX500.

🇺🇸 GDP q/q — November 27, at 15:30 (GMT+2)

This week, the release of the US GDP q/q data will take center stage, providing crucial insights into the country's economic health. As the primary measure of economic growth, GDP reflects the annualized change in the value of all goods and services produced by the economy.

The forecast stands at 2.8%, unchanged from the previous figure, signaling expectations of stable economic expansion. A stronger-than-expected GDP reading could strengthen the US Dollar and support gains in US equity markets. Conversely, a weaker figure might weigh on stocks and trigger risk-off sentiment.

Assets that may be impacted by this release: $XAUUSD, $EURUSD, $NAS100, $US30, $SPX500.

🇺🇸 PCE Price Index m/m — November 27, at 17:00 (GMT+2)

The US PCE Price Index m/m, a key measure of consumer inflation closely monitored by the Federal Reserve, is due this week. The forecast is 0.1%, slightly below the previous reading of 0.2%, indicating potential cooling in inflationary pressures.

A lower-than-expected figure could weigh on the US Dollar, signaling less urgency for rate hikes, while a surprise to the upside may boost dollar strength and pressure risk assets.

Assets that may be impacted by this release: $XAUUSD, $EURUSD, $NAS100, $US30, $SPX500.

🇺🇸 FOMC Minutes — November 27, at 21:00 (GMT+2)

Globally, investors will focus on November 27, a significant day marked by the release of several key US economic indicators and the minutes from the Federal Reserve's November policy meeting. The spotlight will be on whether the minutes hint at a strong likelihood of a third interest rate cut in December, as opinions among Federal Reserve officials remain divided on the need for further easing.

🇪🇺 CPI and Core CPI — November 29, at 12:00 (GMT+2)

This week, the Eurozone CPI and Core CPI data will provide crucial insights into the region's inflation trends. The headline CPI is forecast at 0.1%, down from the previous 0.3%, signaling continued subdued inflationary pressures.

A weaker-than-expected reading could fuel expectations of further monetary easing by the ECB, potentially pressuring the euro and boosting European equities. Conversely, a surprise to the upside might strengthen the euro and weigh on stock markets.

Assets that may be impacted by this release: $EURUSD, $GERMAN30, $STOXX50.

That's it for this week! 👋

As this week brims with crucial economic data points, market participants should brace for potential swings and volatility.