Economic Calendar

RBA Interest Rate Decision (Nov)

05-Nov-24 | Tue | 9:00 IST

Currency: AUD Importance: 3 Forecast: 4.35% Previous: 4.35% Notes: The Reserve Bank of Australia (RBA) reports its decision on where to set the benchmark interest rate. As short-term interest rates are an important determinant of currency valuation, traders watch interest rate changes closely.

A reading that is stronger than forecast is generally supportive (bullish) for the AUD, while a weaker than forecast reading is generally negative (bearish) for the AUD.

Historical Impact: AUDPY

US Presidential Election

05-Nov-24 | Tue | 15:30 IST

Currency: USD Importance: 3 Forecast: - Previous: - Notes: Once every four years, U.S. voters cast ballots for a slate of electors of the U.S. Electoral College, who in turn directly elect the President and Vice President. The most recent presidential election occurred on November 3, 2020, with the next one scheduled for November 5, 2024.

Historical Impact: USDJPY USDMXN UTI100Roll

Services PMI (Oct)

05-Nov-24 | Tue | 20:15 IST

Currency: USD Importance: 3 Forecast: 55.3 Previous: 55.2 Notes: The Service PMI release is published monthly by Markit Economics. The data are based on surveys of over 400 executives in private sector service companies covering various industries.

A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.

Historical Impact: USDJPY

ISM Non-Manufacturing PMI (Oct)

05-Nov-24 | Tue | 20:30 IST

Currency: USD Importance: 3 Forecast: 53.3 Previous: 54.9 Notes: The Institute of Supply Management (ISM) Non-Manufacturing PMI report is based on data from monthly surveys of executives in over 62 industries. A reading above 50 indicates expansion, while below 50 indicates contraction.

A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.

Historical Impact: USDJPY

ISM Non-Manufacturing Prices (Oct)

05 Nov 2024 | Tue | 20:30 IST

Currency: USD Importance: 3 Forecast: 59.4 Previous: N/A Notes: The Institute of Supply Management (ISM) Non-Manufacturing Purchasing Managers' Index (PMI) report on Business is based on data compiled from monthly replies to questions asked of more than 370 purchasing and supply executives in over 62 different industries. The Prices Paid subcategory is a diffusion index calculated by adding the percent of responses indicating they paid more for inputs plus one-half of those responding that they paid the same for inputs.

A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.

Historical Impact: USDJPY

10-Year Note Auction

05 Nov 2024 | Tue | 23:30 IST

Currency: USD Importance: 3 Forecast: 4.066% Previous: N/A Notes: The figures displayed in the calendar represent the yield on the Treasury Note auctioned.

U.S. Treasury Notes have maturities of two to ten years. Governments issue treasuries to borrow money to cover the gap between the amount they receive in taxes and the amount they spend to refinance existing debt and/or to raise capital. The rate on a Treasury Note represents the return an investor will receive by holding the note for its entire duration. All bidders receive the same rate at the highest accepted bid.

Yield fluctuations should be monitored closely as an indicator of the government debt situation. Investors compare the average rate at auction to the rate at previous auctions of the same security.

Historical Impact: USDJPY

Crude Oil Inventories

06 Nov 2024 | Wed | 21:00 IST

Currency: USD Importance: 3 Forecast: N/A Previous: -0.515M Notes: The Energy Information Administration's (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation.

If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices. Conversely, if an increase is less than expected, it implies greater demand and is bullish for crude prices.

Historical Impact: USOilRoll

30-Year Note Auction

06 Nov 2024 | Wed | 23:30 IST

Currency: USD Importance: 3 Forecast: 4.389% Previous: N/A Notes: The figures displayed in the calendar represent the yield on the Treasury Bond auctioned.

U.S. Treasury Bonds have maturities from ten up to 30 years. Governments issue treasuries to borrow money to cover the gap between the amount they receive in taxes and the amount they spend to refinance existing debt and/or to raise capital. The rate on a Treasury Bond represents the return an investor will receive by holding the bond for its entire duration. All bidders receive the same rate at the highest accepted bid.

Yield fluctuations should be monitored closely as an indicator of the government debt situation. Investors compare the average rate at auction to the rate at previous auctions of the same security.

Historical Impact: USDJPY

BoE Interest Rate Decision (Nov)

07 Nov 2024 | Thu | 17:30 IST

Currency: GBP Importance: 3 Forecast: 4.75% Previous: 5.00% Notes: The Bank of England's Monetary Policy Committee (MPC) is expected to cut rates by 25 basis points from 5% to 4.75%. This follows the first interest rate cut of 2024 in July, where the MPC voted by a narrow margin of 5-4 to reduce rates.

Recent economic indicators show inflation at 1.7%, below the BoE's target of 2%, and unemployment at 4.0%. Wage growth remains above comfortable levels, suggesting persistent inflationary pressures.

The upcoming decision may also be influenced by recent fiscal policies announced in the Labour government's budget, which could complicate the BoE's outlook and rate-setting process.

Historical Impact: GBPJPY

Initial Jobless Claims

07 Nov 2024 | Thu | 19:00 IST

Currency: USD Importance: 3 Forecast: 220K Previous: 216K Notes: Initial Jobless Claims measures the number of people who filed for unemployment insurance for the first time during the past week. This is one of the most timely U.S. economic data points, but market impact varies from week to week.

A reading that is higher than forecast is generally negative (bearish) for the USD, while a lower than forecast reading is generally supportive (bullish) for the USD.

Historical Impact: USDJPY

Fed Interest Rate Decision

07 Nov 2024 | Thu | 23:30 IST

Currency: USD Importance: 3 Forecast: 4.62% Previous: 4.88% Notes: The Federal Reserve’s interest rate decision is announced later this week. The US central bank is expected to cut rates by 25 basis points, bringing them from 5.00% to 4.75%.

Investors will seek further insight during Federal Reserve Chairman Jerome Powell's press conference following the decision, with questions likely focusing on the Fed’s monetary policy outlook for next year, especially once a new president is elected.

It's worth noting that the neutral interest rate level, which neither stimulates nor restrains US economic growth, currently sits between 2.75% and 3.00%.

This range may remain unchanged if Harris wins but could rise to 3.50% - 3.75% if Trump wins due to the potential inflationary effects of his policy, which may strengthen the dollar and exert downward pressure on dollar-linked precious metals like silver.

Historical Impact: USDJPY XAGUSD

FOMC Statement

08 Nov 2024 | Fri | 00:30 IST

Currency: USD Importance: 3 Forecast: - Previous: - Notes: The Federal Reserve’s interest rate decision is announced later this week. The US central bank is expected to cut rates by 25 basis points, bringing them from 5.00% to 4.75%.

Investors will seek further insight during Federal Reserve Chairman Jerome Powell's press conference following the decision, with questions likely focusing on the Fed’s monetary policy outlook for next year, especially once a new president is elected.

It's worth noting that the neutral interest rate level, which neither stimulates nor restrains US economic growth, currently sits between 2.75% and 3.00%.

This range may remain unchanged if Harris wins but could rise to 3.50% - 3.75% if Trump wins due to the potential inflationary effects of his policy, which may strengthen the dollar and exert downward pressure on dollar-linked precious metals like silver.

Historical Impact: USDJPY XAGUSD

FOMC Press Conference

08 Nov 2024 | Fri | 01:00 IST

Currency: USD Importance: 3 Forecast: - Previous: - Notes: The Federal Reserve’s interest rate decision is announced later this week. The US central bank is expected to cut rates by 25 basis points, bringing them from 5.00% to 4.75%.

Investors will seek further insight during Federal Reserve Chairman Jerome Powell's press conference following the decision, with questions likely focusing on the Fed’s monetary policy outlook for next year, especially once a new president is elected.

It's worth noting that the neutral interest rate level, which neither stimulates nor restrains US economic growth, currently sits between 2.75% and 3.00%.

This range may remain unchanged if Harris wins but could rise to 3.50% - 3.75% if Trump wins due to the potential inflationary effects of his policy, which may strengthen the dollar and exert downward pressure on dollar-linked precious metals like silver.

Historical Impact: USDJPY XAGUSD

Fed Interest Rate Decision

18 Dec 2024 | Thu | 23:30 IST

Currency: USD Importance: 3 Forecast: 4.42% Previous: 4.62% Notes: A continued easing of inflation and a robust labour market could give the Fed more room to implement rate cuts without stoking inflation fears, supporting the case for a soft landing.