Upcoming economic events 14 August 2024

Time(GMT+0/UTC+0)	State	Importance	Event	Forecast	Previous
02:00		3 points	RBNZ Interest Rate Decision	5.50%	5.50%
02:00		2 points	RBNZ Monetary Policy Statement	———	———
02:00		2 points	RBNZ Rate Statement	———	———
03:00		2 points	RBNZ Press Conference	———	———
09:00		2 points	GDP (YoY) (Q2)	0.6%	0.4%
09:00		2 points	GDP (QoQ) (Q2)	0.3%	0.3%
09:00		2 points	Industrial Production (MoM) (Jun)	0.4%	-0.6%
12:30		2 points	Core CPI (YoY) (Jul)	3.2%	3.3%
12:30		3 points	Core CPI (MoM) (Jul)	0.2%	0.1%
12:30		3 points	CPI (MoM) (Jul)	0.2%	-0.1%
12:30		3 points	CPI (YoY) (Jul)	3.0%	3.0%
14:30		3 points	Crude Oil Inventories	———	-3.728M
14:30		2 points	Cushing Crude Oil Inventories	———	0.579M
18:00		2 points	RBNZ Gov Orr Speaks	———	———
22:45		2 points	Electronic Card Retail Sales (MoM) (Jul)	———	-0.6%
23:10		2 points	RBNZ Gov Orr Speaks	———	———
23:50		2 points	GDP (YoY) (Q2)	2.1%	-1.8%
23:50		3 points	GDP (QoQ) (Q2)	0.6%	-0.5%
23:50		2 points	GDP Price Index (YoY) (Q2)	2.6%	3.4%

Summary of Upcoming Economic Events on August 14, 2024

1. New Zealand RBNZ Interest Rate Decision: The Reserve Bank of New Zealand’s decision on the benchmark interest rate. Forecast: 5.50%, Previous: 5.50%.
2. New Zealand RBNZ Monetary Policy Statement: Provides insights into the RBNZ’s economic outlook and future policy.
3. New Zealand RBNZ Rate Statement: Statement accompanying the interest rate decision, offering additional context on the RBNZ’s policy stance.
4. New Zealand RBNZ Press Conference: Further insights and explanations on the RBNZ’s monetary policy decisions.
5. Eurozone GDP (YoY) (Q2): Annual growth rate of the Eurozone’s gross domestic product. Forecast: +0.6%, Previous: +0.4%.
6. Eurozone GDP (QoQ) (Q2): Quarterly growth rate of the Eurozone’s GDP. Forecast: +0.3%, Previous: +0.3%.
7. Eurozone Industrial Production (MoM) (Jun): Monthly change in the output of the industrial sector. Forecast: +0.4%, Previous: -0.6%.
8. US Core CPI (YoY) (Jul): Annual change in the core consumer price index, excluding food and energy. Forecast: +3.2%, Previous: +3.3%.
9. US Core CPI (MoM) (Jul): Monthly change in the core consumer price index. Forecast: +0.2%, Previous: +0.1%.
10. US CPI (MoM) (Jul): Monthly change in the overall consumer price index. Forecast: +0.2%, Previous: -0.1%.
11. US CPI (YoY) (Jul): Annual change in the overall consumer price index. Forecast: +3.0%, Previous: +3.0%.
12. US Crude Oil Inventories: Weekly change in the number of barrels of crude oil held in inventory by commercial firms. Previous: -3.728M.
13. US Cushing Crude Oil Inventories: Weekly change in crude oil stocks at the Cushing, Oklahoma storage hub. Previous: +0.579M.
14. New Zealand RBNZ Governor Orr Speaks: Remarks from the RBNZ Governor providing insights into monetary policy and economic conditions.
15. New Zealand Electronic Card Retail Sales (MoM) (Jul): Monthly change in retail sales via electronic cards. Previous: -0.6%.
16. Japan GDP (YoY) (Q2): Annual growth rate of Japan’s gross domestic product. Forecast: +2.1%, Previous: -1.8%.
17. Japan GDP (QoQ) (Q2): Quarterly growth rate of Japan’s GDP. Forecast: +0.6%, Previous: -0.5%.
18. Japan GDP Price Index (YoY) (Q2): Annual change in the price index for GDP. Forecast: +2.6%, Previous: +3.4%.

Market Impact Analysis

• New Zealand RBNZ Decisions and Statements: A steady interest rate may stabilize NZD, but the monetary policy statement and press conference could provide insights into future policy, impacting the market’s expectations.
• Eurozone GDP and Industrial Production: Positive GDP and industrial production figures support EUR; weaker data could raise concerns about Eurozone economic health.
• US CPI Data: CPI data is crucial for inflation outlooks; higher-than-expected figures could increase expectations for Fed tightening, supporting USD.
• US Crude Oil Inventories: A decrease in inventories generally supports oil prices, while an increase could pressure prices downwards.
• Japan GDP Data: Strong GDP growth supports JPY, while weaker-than-expected growth could raise concerns about Japan’s economic recovery.

Overall Impact

• Volatility: High, with significant potential reactions in equity, bond, currency, and commodity markets.
• Impact Score: 8/10, indicating a high potential for market movements.