Upcoming economic events 10 September 2024

Time(GMT+0/UTC+0)	State	Importance	Event	Forecast	Previous
01:30		2 points	NAB Business Confidence (Aug)	———	1
09:00		2 points	EU Economic Forecasts	———	———
11:00		2 points	OPEC Monthly Report	———	———
17:00		2 points	3-Year Note Auction	———	3.810%
17:13		2 points	Exports (YoY) (Aug)	6.5%	7.0%
17:13		2 points	Imports (YoY) (Aug)	———	7.2%
17:13		2 points	Trade Balance (USD) (Aug)	83.90B	84.65B
20:30		2 points	API Weekly Crude Oil Stock	———	-7.400M

Summary of Upcoming Economic Events on September 10, 2024

1. Australia NAB Business Confidence (Aug) (01:30 UTC): Measures business sentiment in Australia. Previous: 1.
2. EU Economic Forecasts (09:00 UTC): The European Commission’s economic outlook for the EU, providing insights into expected growth, inflation, and employment trends.
3. US OPEC Monthly Report (11:00 UTC): A monthly report providing data on global oil production, demand, and supply trends, influencing oil prices and energy markets.
4. US 3-Year Note Auction (17:00 UTC): Auction of 3-year US Treasury notes. Previous Yield: 3.810%.
5. China Exports (YoY) (Aug) (17:13 UTC): Annual change in the value of Chinese exports. Forecast: +6.5%, Previous: +7.0%.
6. China Imports (YoY) (Aug) (17:13 UTC): Annual change in the value of Chinese imports. Previous: +7.2%.
7. China Trade Balance (USD) (Aug) (17:13 UTC): The difference between exports and imports. Forecast: $83.90B, Previous: $84.65B.
8. US API Weekly Crude Oil Stock (20:30 UTC): Weekly change in US crude oil inventories. Previous: -7.400M.

Market Impact Analysis

• Australia NAB Business Confidence: A higher confidence reading suggests improved business sentiment, potentially supporting AUD. A lower reading may indicate caution among businesses.
• EU Economic Forecasts: The report could affect EUR depending on growth or inflation outlook revisions. Positive forecasts support EUR, while negative forecasts may lead to a more cautious stance by investors.
• US OPEC Monthly Report: Insights into global oil supply and demand will influence oil prices, impacting energy stocks and oil-related currencies. A bearish outlook could pressure oil prices, while bullish projections may support them.
• US 3-Year Note Auction: Treasury auctions affect bond yields. Strong demand will push yields lower, impacting USD and interest rate expectations.
• China Trade Data (Exports, Imports, Trade Balance): Strong export and import growth indicates robust economic activity, supporting CNY and commodity currencies like AUD. A shrinking trade balance may raise concerns about weakening demand.
• US API Weekly Crude Oil Stock: A large drawdown in crude stocks typically supports oil prices, while an increase in inventories could pressure prices downward.

Overall Impact

• Volatility: Moderate to high, with significant potential reactions in oil markets, bond yields, and commodity-linked currencies.
• Impact Score: 7/10, indicating a high potential for market movements.