Jeremy Oles

Published On: 17/09/2024
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Technical Analysis for AAPL by TradingView
Technical Analysis for AAPL by TradingView
Technical Analysis for AAPL by TradingView
Upcoming economic events 18 September 2024
By Published On: 17/09/2024
Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious
09:00🇪🇺2 pointsCore CPI (YoY) (Aug)2.8%2.8%
09:00🇪🇺2 pointsCPI (MoM) (Aug)0.2%0.0%
09:00🇪🇺3 pointsCPI (YoY) (Aug)2.2%2.2%
12:00🇪🇺2 pointsECB McCaul Speaks——————
12:30🇺🇸2 pointsBuilding Permits (Aug)1.410M1.406M
12:30🇺🇸2 pointsHousing Starts (MoM) (Aug)———-6.8%
12:30🇺🇸2 pointsHousing Starts (Aug)1.310M1.238M
14:30🇺🇸3 pointsAtlanta Fed GDPNow (Q3)——————
14:30🇺🇸2 pointsCrude Oil Inventories———0.833M
14:30🇺🇸2 pointsCushing Crude Oil Inventories———-1.704M
18:00🇺🇸2 pointsInterest Rate Projection – 1st Yr (Q3)———4.1%
18:00🇺🇸2 pointsInterest Rate Projection – 2nd Yr (Q3)———3.1%
18:00🇺🇸2 pointsInterest Rate Projection – 3rd Yr (Q1)———2.9%
18:00🇺🇸2 pointsInterest Rate Projection – Current (Q3)———5.1%
18:00🇺🇸2 pointsInterest Rate Projection – Longer (Q3)———2.8%
18:00🇺🇸3 pointsFOMC Economic Projections——————
18:00🇺🇸3 pointsFOMC Statement——————
18:00🇺🇸3 pointsFed Interest Rate Decision5.25%5.50%
18:30🇺🇸3 pointsFOMC Press Conference——————
20:00🇺🇸2 pointsTIC Net Long-Term Transactions (Jul)———96.1B
22:45🇳🇿2 pointsCurrent Account (YoY) (Q2)———-27.64B
22:45🇳🇿2 pointsGDP (QoQ) (Q2)-0.4%0.2%

Summary of Upcoming Economic Events on September 18, 2024

  1. Eurozone Core CPI (YoY) (Aug) (09:00 UTC): Year-over-year change in the core Consumer Price Index, which excludes food and energy. Forecast: +2.8%, Previous: +2.8%.
  2. Eurozone CPI (MoM) (Aug) (09:00 UTC): Monthly change in the overall Consumer Price Index. Forecast: +0.2%, Previous: 0.0%.
  3. Eurozone CPI (YoY) (Aug) (09:00 UTC): Annual change in the overall CPI. Forecast: +2.2%, Previous: +2.2%.
  4. ECB McCaul Speaks (12:00 UTC): Remarks from ECB Supervisory Board Member McCaul, potentially addressing Eurozone economic or financial policy.
  5. US Building Permits (Aug) (12:30 UTC): The number of new building permits issued. Forecast: 1.410M, Previous: 1.406M.
  6. US Housing Starts (MoM) (Aug) (12:30 UTC): Monthly change in housing starts. Previous: -6.8%.
  7. US Housing Starts (Aug) (12:30 UTC): The number of new housing construction projects started. Forecast: 1.310M, Previous: 1.238M.
  8. Atlanta Fed GDPNow (Q3) (14:30 UTC): Real-time estimate of US GDP growth for Q3.
  9. US Crude Oil Inventories (14:30 UTC): Weekly change in crude oil inventories. Previous: +0.833M.
  10. US Cushing Crude Oil Inventories (14:30 UTC): Weekly change in crude oil inventories at the Cushing, Oklahoma storage hub. Previous: -1.704M.
  11. Fed Interest Rate Projections (18:00 UTC): Projections for future interest rates over 1 year, 2 years, 3 years, and longer, based on the Federal Reserve’s economic outlook.
    • 1st Year Projection (Q3): Previous: 4.1%
    • 2nd Year Projection (Q3): Previous: 3.1%
    • 3rd Year Projection (Q3): Previous: 2.9%
    • Current Rate Projection (Q3): Previous: 5.1%
    • Longer-term Rate Projection (Q3): Previous: 2.8%.
  12. FOMC Economic Projections (18:00 UTC): Updates on the Fed’s forecasts for economic growth, unemployment, and inflation.
  13. FOMC Statement (18:00 UTC): The Federal Reserve’s official statement, providing insights into monetary policy.
  14. Fed Interest Rate Decision (18:00 UTC): Decision on the federal funds rate. Forecast: 5.25%, Previous: 5.50%.
  15. FOMC Press Conference (18:30 UTC): Fed Chair Jerome Powell will discuss the rationale behind the Fed’s monetary policy decisions.
  16. US TIC Net Long-Term Transactions (Jul) (20:00 UTC): Measures foreign demand for long-term US securities. Previous: $96.1B.
  17. New Zealand Current Account (YoY) (Q2) (22:45 UTC): Annual change in New Zealand’s current account balance. Previous: -27.64B.
  18. New Zealand GDP (QoQ) (Q2) (22:45 UTC): Quarterly change in New Zealand’s GDP. Forecast: -0.4%, Previous: +0.2%.

Market Impact Analysis

  • Eurozone CPI: Stable or rising inflation supports EUR, indicating price stability in the region. Lower-than-expected CPI may raise concerns about slowing economic growth.
  • US Housing Data (Building Permits and Housing Starts): A decline in housing starts or permits could signal weaker economic activity in the real estate sector, which may weigh on USD. A rebound would support USD and indicate economic resilience.
  • FOMC Statement, Interest Rate Decision, and Projections: The Fed’s decisions and economic projections will be crucial for USD and global markets. If the Fed signals continued tightening, USD may strengthen. However, dovish signals could weaken USD and lift equities.
  • US Crude Oil Inventories: A rise in inventories may pressure oil prices lower, while a decline could support higher prices, impacting energy stocks and commodity-linked currencies like CAD.
  • New Zealand GDP and Current Account: A shrinking GDP or widening current account deficit could weaken NZD, signaling economic slowdown.

Overall Impact

  • Volatility: High, driven by the Fed’s rate decision and projections, as well as housing data and Eurozone inflation.
  • Impact Score: 9/10, with strong potential for market movements across equities, currencies, bonds, and commodities.
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