Upcoming economic events 11 September 2024

Time(GMT+0/UTC+0)	State	Importance	Event	Forecast	Previous
01:30		2 points	BoJ Board Member Nakagawa Speaks	———	———
08:00		2 points	New Loans (Aug)	810.0B	260.0B
09:25		2 points	ECB McCaul Speaks	———	———
10:00		2 points	Eurogroup Meetings	———	———
12:30		3 points	Core CPI (MoM) (Aug)	0.2%	0.2%
12:30		2 points	Core CPI (YoY) (Aug)	3.2%	3.2%
12:30		3 points	CPI (MoM) (Aug)	0.2%	0.2%
12:30		3 points	CPI (YoY) (Aug)	2.6%	2.9%
14:30		3 points	Crude Oil Inventories	———	-6.873M
14:30		2 points	Cushing Crude Oil Inventories	———	-1.142M
17:00		3 points	10-Year Note Auction	———	3.960%
22:45		2 points	Electronic Card Retail Sales (MoM) (Aug)	———	-0.1%
23:50		2 points	BSI Large Manufacturing Conditions (Q3)	-2.5	-1.0

Summary of Upcoming Economic Events on September 11, 2024

1. BoJ Board Member Nakagawa Speaks (01:30 UTC): Remarks from a Bank of Japan board member, potentially offering insights into monetary policy and economic conditions in Japan.
2. China New Loans (Aug) (08:00 UTC): Measures the amount of new loans issued by Chinese banks. Forecast: 810.0B, Previous: 260.0B.
3. ECB McCaul Speaks (09:25 UTC): Remarks from ECB Supervisory Board Member Ed Sibley McCaul, providing potential insights into financial regulation or economic outlook in the Eurozone.
4. Eurogroup Meetings (10:00 UTC): Meeting of Eurozone finance ministers to discuss economic policies and financial stability.
5. US Core CPI (MoM) (Aug) (12:30 UTC): Monthly change in the core Consumer Price Index, which excludes food and energy. Forecast: +0.2%, Previous: +0.2%.
6. US Core CPI (YoY) (Aug) (12:30 UTC): Annual change in core Consumer Price Index. Forecast: +3.2%, Previous: +3.2%.
7. US CPI (MoM) (Aug) (12:30 UTC): Monthly change in the overall Consumer Price Index. Forecast: +0.2%, Previous: +0.2%.
8. US CPI (YoY) (Aug) (12:30 UTC): Annual change in the overall Consumer Price Index. Forecast: +2.6%, Previous: +2.9%.
9. US Crude Oil Inventories (14:30 UTC): Weekly change in US crude oil stock levels. Previous: -6.873M.
10. US Cushing Crude Oil Inventories (14:30 UTC): Weekly change in crude oil inventories at the Cushing, Oklahoma storage hub. Previous: -1.142M.
11. US 10-Year Note Auction (17:00 UTC): Auction of 10-year US Treasury notes. Previous Yield: 3.960%.
12. New Zealand Electronic Card Retail Sales (MoM) (Aug) (22:45 UTC): Measures monthly changes in spending using electronic cards. Previous: -0.1%.
13. Japan BSI Large Manufacturing Conditions (Q3) (23:50 UTC): Measures business conditions in Japan’s large manufacturing sector. Forecast: -2.5, Previous: -1.0.

Market Impact Analysis

• BoJ Nakagawa Speech: Any hints about future monetary policy moves could impact JPY, particularly if it signals shifts in the Bank of Japan’s stance on interest rates or inflation.
• China New Loans: A significant increase in new loans supports economic growth and demand, positively impacting CNY and global commodity markets, especially for AUD.
• US CPI Data (MoM, YoY, Core): Stable or lower inflation readings could reduce expectations for Fed tightening, weakening USD. Higher-than-expected inflation may fuel concerns about future rate hikes, supporting USD and affecting equity markets.
• US Crude Oil Inventories: Lower inventories typically push oil prices higher, supporting energy stocks and commodity currencies. Increased inventories could pressure oil prices downward.
• US 10-Year Note Auction: The yield on 10-year Treasury bonds influences broader interest rates and can impact market expectations for future Fed policy.
• Japan BSI Large Manufacturing Conditions: A sharp decline could indicate weakening business confidence in Japan, pressuring JPY.

Overall Impact

• Volatility: High, with significant potential market movements based on US CPI data and crude oil inventories.
• Impact Score: 7/10, indicating a high potential for market movements across multiple asset classes.