Upcoming economic events 11 November 2024

Time(GMT+0/UTC+0)	State	Importance	Event	Forecast	Previous
02:00		2 points	Inflation Expectations (QoQ)	———	2.0%
08:10		2 points	ECB McCaul Speaks	———	———
21:45		2 points	Electronic Card Retail Sales (MoM) (Oct)	———	0.0%

Summary of Upcoming Economic Events on November 11, 2024

1. New Zealand Inflation Expectations (QoQ) (02:00 UTC):
   Measures expected inflation rates over the upcoming quarter. Previous: 2.0%. Higher-than-expected inflation expectations may indicate price pressures, which could support the NZD by signaling potential rate hikes from the Reserve Bank of New Zealand (RBNZ).
2. ECB McCaul Speaks (08:10 UTC):
   Remarks from ECB Supervisory Board Member Edouard Fernandez-Bollo McCaul could provide insights into the ECB’s outlook on inflation and financial stability. Hawkish commentary would support the EUR, while dovish remarks may weigh on the currency.
3. New Zealand Electronic Card Retail Sales (MoM) (Oct) (21:45 UTC):
   Tracks monthly changes in consumer spending using electronic cards, a key indicator of retail activity. Previous: 0.0%. Growth in card spending would suggest strong consumer demand, supporting the NZD, while a decline indicates potential softening in consumer activity.

Market Impact Analysis

• New Zealand Inflation Expectations:
  Higher inflation expectations would signal persistent price pressures, potentially supporting the NZD by reinforcing expectations for further RBNZ rate hikes. Lower expectations would suggest limited inflationary concerns, which may weigh on the NZD.
• ECB McCaul Speech:
  Any hawkish tone, with focus on inflation control or economic resilience, would support the EUR. Dovish remarks or focus on growth concerns might soften the EUR by suggesting caution in ECB policy tightening.
• New Zealand Electronic Card Retail Sales:
  Increased retail sales would signal robust consumer spending, supporting the NZD by indicating economic resilience. A decline in sales would suggest weaker consumer demand, which may weigh on the currency.

Overall Impact

Volatility:
Low to moderate, with market focus on New Zealand inflation expectations and retail sales data, as well as ECB commentary. These events will influence short-term sentiment for the NZD and EUR.

Impact Score: 4/10, primarily due to the limited volume of economic data and moderate potential for market movement driven by consumer and inflation expectations.