Cryptocurrency analytics and forecastsUpcoming economic events 20 September 2024

Upcoming economic events 20 September 2024

Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious
01:00🇨🇳2 pointsChina Loan Prime Rate 5Y (Sep)3.85%3.85%
01:15🇨🇳2 pointsPBoC Loan Prime Rate3.35%3.35%
02:30🇯🇵2 pointsBoJ Monetary Policy Statement——————
03:00🇯🇵3 pointsBoJ Interest Rate Decision0.25%0.25%
06:30🇯🇵2 pointsBoJ Press Conference——————
15:00🇪🇺2 pointsECB President Lagarde Speaks——————
17:00🇺🇸2 pointsU.S. Baker Hughes Oil Rig Count———488
17:00🇺🇸2 pointsU.S. Baker Hughes Total Rig Count———590
18:00🇺🇸2 pointsFOMC Member Harker Speaks——————
19:30🇺🇸2 pointsCFTC Crude Oil speculative net positions———140.0K
19:30🇺🇸2 pointsCFTC Gold speculative net positions———282.5K
19:30🇺🇸2 pointsCFTC Nasdaq 100 speculative net positions———25.6K
19:30🇺🇸2 pointsCFTC S&P 500 speculative net positions———-59.4K
19:30🇦🇺2 pointsCFTC AUD speculative net positions———-14.0K
19:30🇯🇵2 pointsCFTC JPY speculative net positions———55.8K
19:30🇪🇺2 pointsCFTC EUR speculative net positions———81.4K
21:00🇳🇿2 pointsWestpac Consumer Sentiment (Q3)———82.2

Summary of Upcoming Economic Events on September 20, 2024

  1. China Loan Prime Rate 5Y (Sep) (01:00 UTC): The 5-year loan prime rate set by the People’s Bank of China (PBoC), typically influencing mortgage rates. Forecast: 3.85%, Previous: 3.85%.
  2. PBoC Loan Prime Rate (01:15 UTC): China’s key loan prime rate, a benchmark for lending. Forecast: 3.35%, Previous: 3.35%.
  3. BoJ Monetary Policy Statement (02:30 UTC): The Bank of Japan’s update on monetary policy, outlining the economic outlook and policy stance.
  4. BoJ Interest Rate Decision (03:00 UTC): Decision on Japan’s key interest rate. Forecast: 0.25%, Previous: 0.25%.
  5. BoJ Press Conference (06:30 UTC): Bank of Japan officials discuss the economic outlook and monetary policy following the rate decision.
  6. ECB President Lagarde Speaks (15:00 UTC): Christine Lagarde provides insights into the ECB’s economic outlook and monetary policy.
  7. US Baker Hughes Oil Rig Count (17:00 UTC): Weekly update on the number of active oil rigs in the US. Previous: 488.
  8. US Baker Hughes Total Rig Count (17:00 UTC): Weekly update on the total number of active rigs, including gas. Previous: 590.
  9. FOMC Member Harker Speaks (18:00 UTC): Commentary from Philadelphia Fed President Patrick Harker, potentially discussing economic conditions and future monetary policy.
  10. CFTC Speculative Net Positions (19:30 UTC): Weekly data on speculative net positions in various assets, indicating market sentiment for:
    • Crude Oil: Previous: 140.0K
    • Gold: Previous: 282.5K
    • Nasdaq 100: Previous: 25.6K
    • S&P 500: Previous: -59.4K
    • AUD: Previous: -14.0K
    • JPY: Previous: 55.8K
    • EUR: Previous: 81.4K
  11. New Zealand Westpac Consumer Sentiment (Q3) (21:00 UTC): Measures consumer confidence in New Zealand. Previous: 82.2.

Market Impact Analysis

  • China Loan Prime Rates: Unchanged rates indicate continued economic stability in China. A surprise cut could stimulate growth but may signal economic weakness, impacting CNY and commodity-linked currencies like AUD.
  • BoJ Monetary Policy and Interest Rate Decision: A decision to keep rates unchanged supports JPY stability. Any surprise move could shake the markets, especially if there’s a shift in the ultra-loose monetary policy.
  • ECB President Lagarde Speech: Remarks from Lagarde will influence EUR, especially if there are hints about future policy actions in response to inflation or economic conditions.
  • US Baker Hughes Rig Count: Changes in rig counts can signal supply trends in the oil market, affecting oil prices and energy-linked currencies like CAD.
  • CFTC Speculative Net Positions: Shifts in speculative positions across major assets provide insights into market sentiment. Significant changes in positioning may signal upcoming market volatility.
  • New Zealand Westpac Consumer Sentiment: A decline in consumer sentiment could weaken NZD by signaling economic concerns, while an improvement may support the currency.

Overall Impact

  • Volatility: Moderate, with potential movements in commodity markets, especially oil, and currencies like JPY, CNY, and NZD, depending on central bank announcements and sentiment data.
  • Impact Score: 6/10, indicating moderate potential for market movements.

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