This week’s economic calendar from 24 to 27 October is packed with EU and US data publications, especially the rate decision by the European Central Bank (ECB) and its view on the EU economy, while the US will publish its Q3 GDP this week as well.
On Tuesday (24 Oct), the US and EU will publish their PMI surveys, which is expected to be the same as the previous level around 49. Australia will publish its Q3 CPIs with the expectation of 1.1% QoQ and 5.3% YoY, and the UK is expecting its August unemployment rate at 4.3%.
Additionally, ECB president, Christine Lagarde will give a statement on Tuesday as well.
On Wednesday (25 Oct), some of key US housing data will be published such as the MBA 30-year mortgage rate with no expectations from economists compared to the previous week of 7.7%, the building permit is expected at 1.473 million and September new home sales are expected at 680,000 units.
Meanwhile, the Bank of Canada will decide its interest rate which is expected at the same level of 5.00% and also publish the monetary policy report, as well as a press conference from its governor, Tiff Macklem. Coincidentally, the same day that the US FED chair, Jerome Powell scheduled a statement as well.
On Thursday (26 Oct), there’ll be an EU leader summit along with ECB interest rate decision which is expected at the same level of 4.50%, and its press conference with ECB president Lagarde as well.
Meanwhile, the US will publish its Q3 GDP at the expectation of 4.2% QoQ which is double the previous 2.1%. And Japan will publish October Tokyo core CPI, the key inflation indicator that is expected at the same level as the previous 2.5%.
On Friday (27 Oct), the US will publish another key inflation data, the PCE price indexes as its September core expectation is at 3.7% YoY and 0.3% MoM.
Lastly, the US weekly mandatory numbers which are scheduled as follows.
On Monday, the US weekly 3- and 6-month treasury bill auctions. These two short-term yields would give insight on how much the bond markets or the big money saver are willing to lend the money to others. The higher short-term rates mean more worries for the long-term lending economy and vice-versa.
On Wednesday, the US EIA oil and gas productions and inventories. These publications would impact the energy commodities markets by a lot, as they indicated the past demand and energy consumption of the US economy.
Thursday, US initial jobless claims along with 4- and 8-week treasury bill auctions. The jobless claims indicated the official unemployment rate in the US which is recently used to gauge how much the FED will hike more rate, as the low claims and hot jobs numbers means the economy could handle a higher interest rate.
Friday, the CFTC speculation net position of derivatives trading such as currencies, commodities and futures indices, would be published on the same day as well. These net positions would roughly give a premonition of the direction of these underlying assets.
