Upcoming economic events 9 September 2024

Time(GMT+0/UTC+0)	State	Importance	Event	Forecast	Previous
01:30		2 points	Building Approvals (MoM) (Jul)	10.4%	-6.4%
01:30		2 points	CPI (MoM) (Aug)	0.5%	0.5%
01:30		2 points	CPI (YoY) (Aug)	0.7%	0.5%
01:30		2 points	PPI (YoY) (Aug)	-1.4%	-0.8%
03:00		2 points	Imports (YoY) (Aug)	———	7.2%
15:00		2 points	NY Fed 1-Year Consumer Inflation Expectations (Aug)	———	3.0%
16:30		2 points	Atlanta Fed GDPNow (Q3)	2.1%	2.1%
19:00		2 points	Consumer Credit (Jul)	12.50B	8.93B

Summary of Upcoming Economic Events on September 9, 2024

1. Australia Building Approvals (MoM) (Jul) (01:30 UTC): Monthly change in the number of new building approvals. Forecast: +10.4%, Previous: -6.4%.
2. China CPI (MoM) (Aug) (01:30 UTC): Monthly change in China’s consumer price index. Forecast: +0.5%, Previous: +0.5%.
3. China CPI (YoY) (Aug) (01:30 UTC): Annual change in China’s consumer price index. Forecast: +0.7%, Previous: +0.5%.
4. China PPI (YoY) (Aug) (01:30 UTC): Annual change in China’s producer price index. Forecast: -1.4%, Previous: -0.8%.
5. China Imports (YoY) (Aug) (03:00 UTC): Annual change in the value of goods and services imported by China. Previous: +7.2%.
6. US NY Fed 1-Year Consumer Inflation Expectations (Aug) (15:00 UTC): Consumers’ expectations for inflation over the next year. Previous: 3.0%.
7. US Atlanta Fed GDPNow (Q3) (16:30 UTC): Real-time estimate of US GDP growth for the third quarter. Previous: 2.1%.
8. US Consumer Credit (Jul) (19:00 UTC): Monthly change in the total value of outstanding consumer credit. Forecast: +12.50B, Previous: +8.93B.

Market Impact Analysis

• Australia Building Approvals: A strong recovery in building approvals suggests a rebound in the housing market, which can support AUD. A weaker figure may indicate ongoing challenges in the sector.
• China CPI and PPI: Rising CPI signals increasing inflationary pressure, while declining PPI indicates weakening producer prices. Stable or rising CPI supports CNY, while a steep PPI decline may indicate lower demand, potentially weighing on global commodity markets.
• China Imports: A strong increase in imports signals robust domestic demand, supporting commodity currencies like AUD, and suggesting strength in China’s economy. Lower imports could indicate weakening demand.
• US NY Fed Inflation Expectations: Higher inflation expectations may fuel concerns about rising consumer prices, potentially impacting USD and influencing the Fed’s policy outlook.
• US Atlanta Fed GDPNow: A stable or rising estimate supports confidence in US economic growth, positively affecting USD. A decline could raise concerns about slowing growth.
• US Consumer Credit: Increasing consumer credit signals strong consumer demand and spending, supporting USD. Lower figures may indicate caution among consumers.

Overall Impact

• Volatility: Moderate, with potential reactions in currency and commodity markets, particularly influenced by Chinese inflation data and US economic indicators.
• Impact Score: 6/10, indicating moderate potential for market movements.