WEEKLY ECONOMIC CALENDAR AHEAD
Here is what you need to know about the important news between October 24th, 2022, and October 28th, 2022, where we take a look at the economic data, market news and headlines likely to have the biggest impact on the market prices this week and beyond, as well as the US Dollar, and other key correlated assets.
U.S. dollar index
In the beginning of the week, Dollar Index is attempting to establish price stability and regain the lost ground above 112, since the trimmed 10-US Treasury yields have added extra pressure on the greenback indicator.
Gold
Gold prices trimmed losses on Friday, and change the week in to a positive one, although the precious metal remains under pressure, heading straight to a record seven-month consecutive loss. Week ahead, the eyes will focus Gross Domestic Product releases, and investors are waiting to see if the uncertainty on the economy of the world, continues to be on the same levels.
Oil
Open interest in crude oil futures markets shrank by around 5.8K contracts on Friday, reversing the previous daily build according to preliminary readings from CME Group. Also, a late-September decision from OPEC+ to cut output saw oil prices surge by more than 20%, but those gains have evaporated as recession fears remain top of mind. President Joe Biden has also announced that the US will release an additional 15 million barrels from the Strategic Petroleum Reserve (SPR) to help US consumers, adding extra pressure on the prices of oil.
Stocks
Ahead in the week, investors will be closely monitoring preliminary Manufacturing and Services PMI readings, speeches from Treasury Secretary Yellen and the Fed’s Waller, CB consumer confidence as well as goods trade balance, new home sales, durable goods orders, GDP data and the PCE price index. In addition, major technology companies including Apple Inc (NASDAQ: AAPL), Alphabet Inc (NASDAQ: GOOGL), Amazon.com Inc (NASDAQ: AMZN), and Microsoft Corporation (NASDAQ: MSFT) are set to report earnings results.
Economic calendar most important releases – All times are GMT
Monday, October 24, 2022
07:15 USD French Flash Services PMI
07:30 USD German Flash Manufacturing PMI
08:30 GBP Flash Manufacturing PMI
13:45 USD Flash Services PMI
Tuesday, October 25, 2022
14:00 USD CB Consumer Confidence
Wednesday, October 26, 2022
00:30 AUD CPI q/q
14:00 CAD BOC Monetary Policy Report
14:00 CAD Overnight Rate
15:00 CAD BOC Press Conference
Thursday, October 27, 2022
12:15 EUR Main Refinancing Rate
12:15 EUR Monetary Policy Statement
12:30 USD Advance GDP q/q
12:45 EUR ECB Press Conference
Friday, October 28, 2022
Tentative JPY Monetary Policy Statement
12:30 CAD GDP m/m
12:30 CAD Core PCE Price Index m/m
Thanks for reading! Have a great week!
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