Upcoming economic events 16 September 2024

Time(GMT+0/UTC+0)	State	Importance	Event	Forecast	Previous
08:10		2 points	ECB’s De Guindos Speaks	———	———
09:00		2 points	Wages in euro zone (YoY) (Q2)	———	5.30%
09:00		2 points	Trade Balance (Jul)	14.9B	22.3B
12:00		2 points	ECB’s Lane Speaks	———	———
12:30		2 points	NY Empire State Manufacturing Index (Sep)	-4.10	-4.70

Summary of Upcoming Economic Events on September 16, 2024

1. ECB’s De Guindos Speaks (08:10 UTC): Remarks from ECB Vice President Luis de Guindos, potentially offering insights into the ECB’s economic outlook or monetary policy stance.
2. Eurozone Wages (YoY) (Q2) (09:00 UTC): Year-over-year change in wages within the Eurozone. Previous: +5.30%.
3. Eurozone Trade Balance (Jul) (09:00 UTC): The difference between exports and imports in the Eurozone. Forecast: €14.9B, Previous: €22.3B.
4. ECB’s Lane Speaks (12:00 UTC): Remarks from Philip Lane, Chief Economist of the ECB, providing further insights into the Eurozone’s economic conditions and policy direction.
5. US NY Empire State Manufacturing Index (Sep) (12:30 UTC): Measures the health of the manufacturing sector in New York State. Forecast: -4.10, Previous: -4.70.

Market Impact Analysis

• ECB Speeches (De Guindos, Lane): Comments from key ECB officials could influence market expectations for future monetary policy. Hawkish remarks may support EUR, while dovish signals could weaken it.
• Eurozone Wages (YoY): Rising wages indicate inflationary pressure, which could influence ECB policy and affect EUR. A slowdown in wage growth may ease inflation concerns.
• Eurozone Trade Balance: A smaller trade surplus suggests weaker export performance or higher imports, which could weigh on EUR. A larger surplus supports the currency, indicating strong external demand.
• US NY Empire State Manufacturing Index: A negative reading signals contraction in the manufacturing sector, which could weaken USD and suggest slower economic activity. An improvement would support USD by indicating manufacturing recovery.

Overall Impact

• Volatility: Moderate, with potential movements in EUR based on ECB comments and economic data, as well as USD influenced by manufacturing data.
• Impact Score: 6/10, indicating moderate potential for market movements.