Cryptocurrency NewsUpcoming economic events 27 November 2024

Upcoming economic events 27 November 2024

Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious
00:30🇦🇺2 pointsConstruction Work Done (QoQ) (Q3)0.4%0.1%
01:00🇳🇿3 pointsRBNZ Interest Rate Decision4.25%4.75%
01:00🇳🇿2 pointsRBNZ Monetary Policy Statement——————
01:00🇳🇿2 pointsRBNZ Rate Statement——————
02:00🇳🇿2 pointsRBNZ Press Conference——————
08:00🇪🇺2 pointsEuropean Central Bank Non-monetary Policy Meeting  ——————
13:30🇺🇸2 pointsContinuing Jobless Claims———1,908K
13:30🇺🇸2 pointsCore Durable Goods Orders (MoM) (Oct)  0.4%0.5%
13:30🇺🇸2 pointsCore PCE Prices (Q3)  2.20%2.80%
13:30🇺🇸3 pointsDurable Goods Orders (MoM) (Oct)  -0.8%0.0%
13:30🇺🇸3 pointsGDP (QoQ) (Q3)2.8%3.0%
13:30🇺🇸2 pointsGDP Price Index (QoQ) (Q3)1.8%2.5%
13:30🇺🇸2 pointsGoods Trade Balance (Oct)-101.60B-108.23B
13:30🇺🇸3 pointsInitial Jobless Claims220K213K
13:30🇺🇸2 pointsPersonal Spending (MoM) (Oct)0.4%0.5%
13:30🇺🇸2 pointsRetail Inventories Ex Auto (Oct)———0.2%
14:45🇺🇸3 pointsChicago PMI44.941.6
15:00🇺🇸3 pointsCore PCE Price Index (MoM) (Oct)0.3%0.3%
15:00🇺🇸3 pointsCore PCE Price Index (YoY) (Oct)———2.7%
15:00🇺🇸2 pointsPCE Price index (YoY) (Oct)———2.1%
15:00🇺🇸2 pointsPCE price index (MoM) (Oct)0.2%0.2%
15:00🇺🇸2 pointsPending Home Sales (MoM) (Oct)-2.1%7.4%
15:30🇺🇸3 pointsCrude Oil Inventories———0.545M
15:30🇺🇸2 pointsCushing Crude Oil Inventories———-0.140M
16:00🇳🇿2 pointsRBNZ Press Conference——————
18:00🇺🇸2 points7-Year Note Auction———4.215%
18:00🇺🇸2 pointsAtlanta Fed GDPNow (Q4)2.6%2.6%
18:00🇺🇸2 pointsU.S. Baker Hughes Oil Rig Count———479
18:00🇺🇸2 pointsU.S. Baker Hughes Total Rig Count———583
18:00🇪🇺2 pointsECB’s Lane Speaks——————

Summary of Upcoming Economic Events on November 27, 2024

  1. Australia Construction Work Done (QoQ) (Q3) (00:30 UTC):
    • Forecast: 0.4%, Previous: 0.1%.
      Indicates construction activity in Australia. Higher-than-expected growth would support the AUD, while weaker data could weigh on it.
  2. RBNZ Interest Rate Decision & Policy Statements (01:00–02:00 UTC):
    • Forecast Rate: 4.25%, Previous: 4.75%.
      A rate cut would signal monetary easing, potentially weakening the NZD. If the rate remains unchanged or guidance remains hawkish, the NZD would likely find support.
  3. ECB Non-Monetary Policy Meeting (08:00 UTC):
    Discussions unrelated to monetary policy but may provide insights into the ECB’s focus areas. Limited immediate impact unless significant issues are addressed.
  4. US GDP Data (Q3) (13:30 UTC):
    • QoQ Growth: Forecast: 2.8%, Previous: 3.0%.
    • Price Index QoQ: Forecast: 1.8%, Previous: 2.5%.
      Slowing GDP growth or a lower price index would signal easing economic activity and inflationary pressures, potentially weighing on the USD.
  5. US Durable Goods Orders (Oct) (13:30 UTC):
    • Durable Goods: Forecast: -0.8%, Previous: 0.0%.
    • Core Durable Goods (Excluding Transportation): Forecast: 0.4%, Previous: 0.5%.
      Weaker orders would signal declining business investment, softening the USD, while stronger numbers suggest resilience.
  6. US Jobless Claims (13:30 UTC):
    • Initial Claims: Forecast: 220K, Previous: 213K.
    • Continuing Claims: Previous: 1,908K.
      Rising claims would indicate labor market softening, potentially weighing on the USD, while lower claims suggest continued labor strength.
  7. US Personal Spending & Core PCE Prices (15:00 UTC):
    • Personal Spending MoM (Oct): Forecast: 0.4%, Previous: 0.5%.
    • Core PCE MoM (Oct): Forecast: 0.3%, Previous: 0.3%.
    • Core PCE YoY (Oct): Previous: 2.7%.
      Core PCE is a key inflation measure for the Fed. Higher-than-expected figures would support the USD by reinforcing rate hike expectations, while weaker numbers could soften it.
  8. US Chicago PMI (14:45 UTC):
    • Forecast: 44.9, Previous: 41.6.
      A reading below 50 indicates contraction. Improvement would signal recovery in manufacturing activity, supporting the USD.
  9. US Pending Home Sales (MoM) (15:00 UTC):
    • Forecast: -2.1%, Previous: 7.4%.
      Declining home sales would suggest weakening housing demand, potentially softening the USD.
  10. US Crude Oil Inventories (15:30 UTC):
    • Previous: 0.545M.
      Rising inventories would signal weaker demand, pressuring oil prices, while a drawdown supports prices.
  11. US 7-Year Note Auction (18:00 UTC):
    • Previous Yield: 4.215%.
      Higher yields would signal increased inflation expectations or demand for higher returns, supporting the USD.
  12. ECB’s Lane Speaks (18:00 UTC):
    Remarks from ECB Chief Economist Philip Lane could provide insights into the Eurozone’s inflation and monetary policy outlook, influencing the EUR.

Market Impact Analysis

  • Australia Construction Data:
    Positive results would signal resilience in Australia’s construction sector, supporting the AUD. Weak data would indicate economic challenges, weighing on the currency.
  • RBNZ Decisions:
    A rate cut would weigh on the NZD by signaling monetary easing. A hold with hawkish guidance would support the NZD.
  • US GDP & Durable Goods Orders:
    Slowing GDP growth or declining durable goods orders would suggest economic cooling, potentially softening the USD. Resilience in these figures would support the currency.
  • US Jobless Claims & Core PCE Prices:
    Rising claims would signal labor market weakness, while higher Core PCE figures would support the USD by suggesting persistent inflation.
  • Oil Inventories & PMI Data:
    Rising oil inventories would pressure prices and weigh on commodity-linked currencies. An improving Chicago PMI would signal manufacturing recovery, supporting the USD.

Overall Impact

Volatility:
High, driven by central bank decisions (RBNZ), key US economic indicators (GDP, durable goods, jobless claims), and inflation data (Core PCE).

Impact Score: 8/10, with major influences from US growth and inflation metrics, RBNZ policy decisions, and crude oil inventory changes shaping sentiment across markets.

Join us

13,690FansLike
1,625FollowersFollow
5,652FollowersFollow
2,178FollowersFollow
- Advertisement -