Upcoming economic events 23 September 2024

Time(GMT+0/UTC+0)	State	Importance	Event	Forecast	Previous
07:00		2 points	ECB’s Elderson Speaks	———	———
08:00		2 points	HCOB Eurozone Manufacturing PMI (Sep)	45.7	45.8
08:00		2 points	HCOB Eurozone Composite PMI (Sep)	50.6	51.0
08:00		2 points	HCOB Eurozone Services PMI (Sep)	52.3	52.9
12:00		2 points	FOMC Member Bostic Speaks	———	———
13:45		3 points	S&P Global US Manufacturing PMI (Sep)	48.6	47.9
13:45		2 points	S&P Global Composite PMI (Sep)	———	54.6
13:45		3 points	S&P Global Services PMI (Sep)	55.3	55.7
17:00		2 points	FOMC Member Kashkari Speaks	———	———

Summary of Upcoming Economic Events on September 23, 2024

1. ECB’s Elderson Speaks (07:00 UTC): Remarks from ECB Executive Board member Frank Elderson, potentially discussing Eurozone economic policy or financial regulation.
2. HCOB Eurozone Manufacturing PMI (Sep) (08:00 UTC): A key indicator of the health of the Eurozone’s manufacturing sector. Forecast: 45.7, Previous: 45.8. A reading below 50 indicates contraction.
3. HCOB Eurozone Composite PMI (Sep) (08:00 UTC): Measures overall business activity in the Eurozone, combining services and manufacturing. Forecast: 50.6, Previous: 51.0.
4. HCOB Eurozone Services PMI (Sep) (08:00 UTC): A measure of the activity level in the services sector. Forecast: 52.3, Previous: 52.9.
5. FOMC Member Bostic Speaks (12:00 UTC): Commentary from Federal Reserve Bank of Atlanta President Raphael Bostic on the US economy and monetary policy.
6. S&P Global US Manufacturing PMI (Sep) (13:45 UTC): A measure of the health of the US manufacturing sector. Forecast: 48.6, Previous: 47.9. A reading below 50 indicates contraction.
7. S&P Global US Composite PMI (Sep) (13:45 UTC): Measures overall business activity in the US across both services and manufacturing sectors. Previous: 54.6.
8. S&P Global US Services PMI (Sep) (13:45 UTC): A key indicator of the strength of the US services sector. Forecast: 55.3, Previous: 55.7.
9. FOMC Member Kashkari Speaks (17:00 UTC): Remarks from Federal Reserve Bank of Minneapolis President Neel Kashkari, offering potential insights into the Federal Reserve’s monetary policy outlook.

Market Impact Analysis

• Eurozone PMIs (Manufacturing, Composite, Services): Weak PMIs below 50 indicate economic contraction, potentially weakening EUR, especially if the manufacturing sector continues to struggle. Positive surprises in services or composite data would provide support for EUR.
• US S&P Global PMIs (Manufacturing, Services, Composite): A stronger-than-expected PMI reading in manufacturing could support USD, while a weak reading signals economic slowdown. The services PMI holds particular importance, as the US economy is service-driven, and a solid reading would support USD strength.
• FOMC Speeches (Bostic, Kashkari): Comments from both Federal Reserve officials could influence expectations for future interest rate moves, impacting USD depending on the tone (hawkish or dovish) of their remarks.

Overall Impact

• Volatility: Moderate, especially around Eurozone and US PMI data and FOMC speeches, as they can significantly influence market sentiment toward EUR and USD.
• Impact Score: 7/10, with important data likely to affect currencies and equity markets.