Upcoming economic events 12 November 2024

Time(GMT+0/UTC+0)	State	Importance	Event	Forecast	Previous
00:30		2 points	NAB Business Confidence (Oct)	———	-2
10:00		2 points	ZEW Economic Sentiment (Nov)	20.5	20.1
12:00		2 points	OPEC Monthly Report	———	———
15:00		2 points	Fed Waller Speaks	———	———
16:00		2 points	NY Fed 1-Year Consumer Inflation Expectations (Oct)	———	3.0%
19:00		2 points	FOMC Member Kashkari Speaks	———	———
22:00		2 points	FOMC Member Harker Speaks	———	———

Summary of Upcoming Economic Events on November 12, 2024

1. Australia NAB Business Confidence (Oct) (00:30 UTC):
   A survey of business sentiment in Australia. Previous: -2. Positive sentiment suggests optimism about economic conditions, which would support the AUD. Negative sentiment could weigh on the currency, signaling business concerns.
2. Eurozone ZEW Economic Sentiment (Nov) (10:00 UTC):
   Measures investor and analyst sentiment toward the Eurozone economy. Forecast: 20.5, Previous: 20.1. An increase indicates improved economic confidence, supporting the EUR, while a decline suggests caution about economic prospects.
3. OPEC Monthly Report (12:00 UTC):
   Provides updates on oil production, demand forecasts, and market conditions. The report can influence oil prices, particularly if OPEC revises production targets or forecasts changes in global demand.
4. Fed Waller Speaks (15:00 UTC):
   Remarks from Federal Reserve Governor Christopher Waller may offer insights into the Fed’s stance on inflation and economic growth, potentially impacting the USD based on any hawkish or dovish signals.
5. NY Fed 1-Year Consumer Inflation Expectations (Oct) (16:00 UTC):
   Tracks consumer expectations for inflation over the next year. Previous: 3.0%. Rising expectations would support the USD, indicating perceived inflationary pressures. Lower expectations would suggest reduced inflation concerns, potentially softening the USD.
6. FOMC Members Kashkari and Harker Speak (19:00 & 22:00 UTC):
   Remarks from Neel Kashkari and Patrick Harker may provide additional insights into the Fed’s economic outlook. Hawkish comments would support the USD, while dovish signals may weaken it.

Market Impact Analysis

• Australia NAB Business Confidence:
  Positive business confidence would support the AUD by signaling economic resilience, while a further negative reading would indicate business concerns, weighing on the currency.
• Eurozone ZEW Economic Sentiment:
  An increase in sentiment suggests optimism about Eurozone economic conditions, supporting the EUR. A decline would indicate caution, possibly dampening EUR sentiment.
• OPEC Monthly Report:
  Higher production targets or weaker demand forecasts could pressure oil prices downward. Supply cuts or increased demand expectations would support prices, impacting commodity-linked currencies.
• Fed Speeches (Waller, Kashkari, Harker) & NY Fed Inflation Expectations:
  Any hawkish remarks from Fed officials or a rise in inflation expectations would support the USD by indicating potential for continued rate hikes. Dovish comments or lower inflation expectations may suggest a less aggressive Fed stance, softening the USD.

Overall Impact

Volatility:
Moderate, with primary focus on business and economic sentiment indicators from Australia and the Eurozone, as well as inflation expectations and Fed commentary in the US. OPEC’s report may affect commodity markets and energy-linked currencies.

Impact Score: 5/10, with a moderate chance of market movement from sentiment indicators, Fed speeches, and potential shifts in oil market expectations.