Upcoming economic events 22 October 2024

Time(GMT+0/UTC+0)	State	Importance	Event	Forecast	Previous
05:00		2 points	BoJ Core CPI (YoY)	———	1.8%
11:30		2 points	ECB McCaul Speaks	———	———
14:00		2 points	FOMC Member Harker Speaks	———	———
14:00		2 points	ECB President Lagarde Speaks	———	———
15:00		2 points	ECB’s Lane Speaks	———	———
19:15		2 points	ECB President Lagarde Speaks	———	———
20:00		2 points	ECB’s Lane Speaks	———	———
20:15		2 points	ECB McCaul Speaks	———	———
20:30		2 points	API Weekly Crude Oil Stock	———	-1.580M

Summary of Upcoming Economic Events on October 22, 2024

1. BoJ Core CPI (YoY) (05:00 UTC):
   Measures the year-on-year change in core inflation in Japan, which excludes fresh food prices. Previous: 1.8%. Rising core inflation would signal price pressures in Japan, potentially influencing Bank of Japan policy.
2. ECB McCaul Speaks (11:30 & 20:15 UTC):
   Remarks from ECB Supervisory Board Member Edouard Fernandez-Bollo McCaul may provide insights into financial regulation and economic conditions in the Eurozone.
3. FOMC Member Harker Speaks (14:00 UTC):
   Comments from Philadelphia Fed President Patrick Harker may give clues about the Federal Reserve’s view on inflation, growth, and interest rates.
4. ECB President Lagarde Speaks (14:00 & 19:15 UTC):
   ECB President Christine Lagarde may provide important insights into the ECB’s stance on monetary policy, inflation, and the economic outlook for the Eurozone.
5. ECB’s Lane Speaks (15:00 & 20:00 UTC):
   Philip Lane, ECB Chief Economist, may discuss economic trends in the Eurozone and the ECB’s approach to monetary policy in light of inflation and growth data.
6. API Weekly Crude Oil Stock (20:30 UTC):
   Measures the change in US crude oil inventories reported by the American Petroleum Institute. Previous: -1.580M. A larger-than-expected decline could support oil prices, indicating tighter supply.

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Market Impact Analysis

• BoJ Core CPI (YoY):
  Higher-than-expected core inflation would signal rising price pressures in Japan, possibly influencing the BoJ’s dovish stance and supporting the JPY. Lower inflation could justify the BoJ’s accommodative policies, keeping pressure on the yen.
• ECB Speeches (McCaul, Lagarde, Lane):
  Remarks from top ECB officials will shape expectations for future monetary policy. Hawkish tones on inflation control would support the EUR, while dovish signals could weaken it.
• FOMC Member Harker Speech:
  Hawkish comments from Harker would support the USD by signaling potential rate hikes, while dovish commentary would suggest caution about economic growth, softening the USD.
• API Weekly Crude Oil Stock:
  A larger-than-expected drop in crude oil inventories would indicate tighter supply, potentially boosting oil prices, while a smaller decline or build in stocks would weigh on prices.

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Overall Impact

Volatility:
Moderate, with a focus on speeches from key ECB officials and US oil inventory data. ECB commentary on inflation and monetary policy could influence the EUR, while the API report will impact oil markets.

Impact Score: 6/10, driven by potential shifts in central bank outlooks and energy market dynamics, which will influence market sentiment on global economic growth and inflation.