Sunday, 3rd November:
No high-impact economic events scheduled.
Monday, 4th November:
No high-impact economic events scheduled.
Tuesday, 5th November:
- AUD – RBA Cash Rate Decision – 3:30am BST: The Reserve Bank of Australia (RBA) is expected to keep its cash rate steady at 4.35%. Following recent strong employment data and elevated core inflation, the RBA is likely to adopt a cautious approach, which could influence the direction of the AUD and the ASX 200.
- AUD – RBA Press Conference – 4:30am BST: RBA officials will address monetary policy, with markets closely monitoring any comments for signs of shifts in future interest rate policy. This may lead to further movements in AUD-related trading.
- GBP – UK Monetary Policy Report Hearings – Tentative: The Bank of England will present its latest Monetary Policy Report to the UK Parliament. This session will likely provide insights into the BoE’s assessment of the economy and inflation, potentially impacting the GBP and UK 100 indices.
- USD – ISM Services PMI – 3:00pm BST: The ISM Services PMI is forecasted to come in at 53.7, down from 54.9 in September. Any significant deviation may influence U.S. equity markets and the USD, as this report indicates growth in the U.S. service sector.
- USD – Presidential Election – All Day:S. citizens vote in a highly anticipated election, with significant implications for U.S. fiscal and trade policies. A close result or a contested outcome could lead to increased volatility across markets, particularly for the USD and U.S. stock indices.
- USD – Congressional Elections – All Day: The elections for Congress will also shape U.S. legislative policy direction, with potential impacts on market sentiment based on the results for key Senate and House races.
- NZD – Employment Data – 9:45pm BST: New Zealand releases quarterly employment data, with the unemployment rate expected to rise to 5.0% from 4.6%. A weaker labor market could weigh on the NZD.
Wednesday, 6th November:
- GBP – UK Construction PMI – 9:30am BST: The UK Construction PMI is anticipated to decrease from 57.2 to 55.3. This data can impact the GBP, as it reflects growth in the UK’s construction sector, which could be slowing due to high interest rates.
- USD – U.S. Final Services PMI – 2:45pm BST: The U.S. Final Services PMI is forecasted to remain at 55.3. Consistent figures may suggest steady growth in the service sector, supporting USD stability.
- CAD – Canada Ivey PMI – 3:00pm BST: Canada’s Ivey PMI, a gauge of business activity, is forecasted to decline slightly from 53.1 to 54.2. Any significant change may lead to fluctuations in the CAD.
- USD – U.S. Crude Oil Inventories – 3:30pm BST: The weekly U.S. crude oil inventory report is due, with expectations of a decrease of 0.5M barrels. Changes in inventory levels could impact global oil prices, especially amid heightened geopolitical concerns.
Thursday, 7th November:
- GBP – BoE Monetary Policy Report – 12:00pm BST: The Bank of England releases its latest Monetary Policy Report, with markets anticipating details on economic assessments and potential policy adjustments. This report could impact GBP/USD and the UK 100.
- GBP – BoE Official Bank Rate and Votes – 12:00pm BST: The BoE is expected to cut rates from 5.00% to 4.75%, with a vote split of 0-8-1. Markets will watch for any surprises in voting as well as the policy summary, which may influence the GBP.
- USD – U.S. Unemployment Claims – 1:30pm BST: Initial jobless claims in the U.S. are projected to reach 220K. Labor market resilience is a key indicator for future Fed actions, so deviations from expectations may impact the USD and U.S. equity markets.
- USD – FOMC Interest Rate Decision – 7:00pm BST: The Fed is widely expected to reduce rates by 25 bps to 4.75%. This announcement, followed by a statement and press conference, will be closely analyzed for signals on future Fed policy. Traders in U.S. indices and USD may see significant movement depending on the Fed’s tone.
- USD – FOMC Press Conference – 7:30pm BST: Fed Chair Jerome Powell’s comments following the rate decision will be critical. Markets will look for indications of whether further rate cuts or a pause is likely, impacting market sentiment and the dollar.
Friday, 8th November:
- CNY – China New Loans – 8th-15th November (Date Tentative): China’s new loan data is anticipated to show a decline to 770 billion from 1590 billion. This data provides insight into credit expansion in China and may affect Asian markets and commodities.
- CAD – Canada Employment Data – 1:30pm BST: Canada’s employment report is forecasted to show a decrease in job creation to 33.2K, with unemployment ticking up to 6.6%. This data will be closely watched by CAD traders for any indication of labor market health.
- USD – U.S. Prelim University of Michigan Consumer Sentiment – 3:00pm BST: The preliminary UoM consumer sentiment reading is expected at 70.6. A strong or weak figure could influence market perceptions of consumer spending strength in the U.S.
Saturday, 9th November:
- CNY – China CPI and PPI – 1:30am BST: China will release its CPI and PPI figures, with CPI expected to increase modestly to 0.3% y/y and PPI forecasted to stay negative at -2.5%. These inflation metrics could impact the CNY and may signal economic challenges in China’s manufacturing and consumer sectors.
This calendar captures major economic events for the week, with potential impacts on currency pairs, indices, and commodities.
