Schedule & Review of economic events in the upcoming week

October 30, 2017

Know what's happening this week! Many market events are awaiting!

Schedule & Review of economic events in the upcoming week

This article is originally referred from JustForex News

Today, JustForex’s team of financial analysts has prepared a new review of events in the upcoming week.

These events can significantly affect the Forex market.

Choose and track the ones that are most important to you.

Last week, the US dollar again strengthened against the majors. The dollar index (#DX) increased by more than 1.2%. The ECB is still concerned about the low level of inflation. The Central Bank said that since January the monthly volume of asset purchases would be reduced from 60 billion euros to 30 billion euros. At the same time, the program will be extended until the end of September 2018. The preliminary data on the US GDP (3 quarter) was quite optimistic. It is expected that the growth of the US economy will be 3.0%, which is higher than the forecasted value of 2.5%.

In the upcoming trading week, we recommend you to pay attention to the following macroeconomic events and reports.

October 30th, Monday

On Monday, the news background will be fairly calm:

  • Statistics on the personal spendings in the US at 14:30 (GMT+2:00);
  • The preliminary data on inflation in Germany at 15:00 (GMT+2:00).

October 31st, Tuesday

On Tuesday, the news background will be very eventful. The attention will be focused on the meeting of the Bank of Japan. Most experts expect that the regulator will leave interest rates at the same level.

Investors will also monitor the following economic reports:

  • Statistics on business activity in China at 03:00 (GMT+2:00);
  • The preliminary data on inflation and the GDP of the Eurozone at 12:00 (GMT+2:00);
  • Canada’s GDP report at 14:30 (GMT+2:00);
  • The Consumer confidence index in the USA at 16:00 (GMT+2:00);
  • Statistics on the labor market of New Zealand at 23:45 (GMT+2:00).

November 1st, Wednesday

On Wednesday, the press conference of the US Federal Reserve will take place at 20:00 (GMT+2:00). It is expected that the Central Bank will leave interest rates unchanged. We recommend paying attention to the comments of the Fed’s representatives.

Participants of the financial markets will monitor the following statistics:

  • The index of business activity in the manufacturing sector of China from Caixin at 03:45 (GMT+2:00);
  • The index of business activity in the manufacturing sector of the UK at 11:30 (GMT+2:00);
  • The preliminary report on the US labor market from ADP at 14:15 (GMT+2:00);
  • Statistics on business activity in the manufacturing sector of the US from ISM at 16:00 (GMT+2:00);
  • Crude Oil Inventories in the US at 16:30 (GMT+2:00).

November 2nd, Thursday

On Thursday, the Bank of England will make a decision on the interest rate at 14:00 (GMT+2:00). Participants of the financial markets expect that the regulator will raise the key interest rate by 25 basis points to 0.50%.

We also expect the publication of important economic reports:

  • The index of business activity in the manufacturing sector and the report on the German labor market at 10:55 (GMT+2:00);
  • The index of business activity in the construction sector in the UK at 11:30 (GMT+2:00);
  • The preliminary statistics on the labor market in the US at 14:30 (GMT+2:00).

November 3rd, Friday

On Friday in the Asian trading session, a report on retail sales in Australia will be published at 02:30 (GMT+2:00).

At 11:30 (GMT+2:00) the data on business activity in the services sector of Great Britain will be released.

At 14:30 (GMT+2:00) investors’ attention will be focused on the publication of reports on the US and Canadian labor market.

At 16:00 (GMT+2:00) we expect the index of business activity in the non-manufacturing sector of the US from ISM.

Original Source: JustForex News

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