Upcoming economic events 24 September 2024

Time(GMT+0/UTC+0)	State	Importance	Event	Forecast	Previous
00:30		2 points	au Jibun Bank Japan Services PMI (Sep)	———	53.7
04:30		3 points	RBA Interest Rate Decision (Sep)	4.35%	4.35%
05:30		2 points	RBA Rate Statement	———	———
07:10		2 points	ECB McCaul Speaks	———	———
13:00		2 points	FOMC Member Bowman Speaks	———	———
13:00		2 points	S&P/CS HPI Composite – 20 n.s.a. (YoY) (Jul)	5.9%	6.5%
13:00		2 points	S&P/CS HPI Composite – 20 n.s.a. (MoM) (Jul)	———	0.6%
14:00		3 points	CB Consumer Confidence (Sep)	103.5	103.3
17:00		2 points	2-Year Note Auction	———	3.874%
20:30		2 points	API Weekly Crude Oil Stock	———	1.960M

Summary of Upcoming Economic Events on September 24, 2024

1. Japan au Jibun Bank Japan Services PMI (Sep) (00:30 UTC): A measure of the activity level in Japan’s service sector. Previous: 53.7.
2. RBA Interest Rate Decision (Sep) (04:30 UTC): The Reserve Bank of Australia (RBA) sets its key interest rate. Forecast: 4.35%, Previous: 4.35%.
3. RBA Rate Statement (05:30 UTC): Accompanies the interest rate decision, providing insights into the RBA’s monetary policy stance and economic outlook.
4. ECB McCaul Speaks (07:10 UTC): Remarks from ECB Supervisory Board Member McCaul, potentially discussing financial regulation or economic developments in the Eurozone.
5. FOMC Member Bowman Speaks (13:00 UTC): Commentary from Federal Reserve Governor Michelle Bowman on economic conditions or monetary policy.
6. S&P/CS HPI Composite – 20 n.s.a. (YoY) (Jul) (13:00 UTC): Year-over-year change in the S&P/Case-Shiller Home Price Index, which tracks home prices across 20 major US cities. Forecast: +5.9%, Previous: +6.5%.
7. S&P/CS HPI Composite – 20 n.s.a. (MoM) (Jul) (13:00 UTC): Month-over-month change in US home prices across the 20-city index. Previous: +0.6%.
8. US CB Consumer Confidence (Sep) (14:00 UTC): A measure of consumer sentiment in the US. Forecast: 103.5, Previous: 103.3.
9. US 2-Year Note Auction (17:00 UTC): Auction of 2-year US Treasury notes. Previous Yield: 3.874%.
10. API Weekly Crude Oil Stock (20:30 UTC): Weekly change in US crude oil inventories. Previous: +1.960M.

Market Impact Analysis

• Japan Services PMI: A higher reading signals expansion in the services sector, potentially supporting JPY, while a decline may signal weaker economic activity.
• RBA Interest Rate Decision and Statement: The RBA’s decision to keep rates unchanged or adjust them will significantly impact AUD. A dovish statement may weaken AUD, while hawkish signals could provide support.
• ECB McCaul Speech: Insights on Eurozone economic conditions or banking policy could influence EUR, especially if there are comments related to inflation or monetary tightening.
• US Home Prices (S&P/CS HPI): Slower home price growth may indicate a cooling housing market, potentially affecting USD sentiment. A stronger increase in prices supports confidence in the real estate sector.
• US CB Consumer Confidence: Higher consumer confidence indicates stronger consumer spending and economic resilience, which can strengthen USD. A decline may signal economic caution.
• API Weekly Crude Oil Stock: A rise in oil inventories typically pressures oil prices lower, while a decline in stocks supports higher prices, impacting energy markets and commodity-linked currencies like CAD.

Overall Impact

• Volatility: Moderate to high, with significant movements likely in AUD due to the RBA decision and USD influenced by consumer confidence data.
• Impact Score: 7/10, with key events driving potential market movements across currencies, oil, and bond markets.