Forex and other markets news
Week Ahead News. 05.12 - 11.12
Week Ahead News. 05.12 - 11.12
U.K. Composite Purchasing Managers' Index (PMI) (Nov)
The Composite PMI showed 48.3 in November, only slightly up from 48.2 in the previous month. This points to the fourth month of contraction in business activity in the private sector. Industrial production declined the least since July amid a reduction in supply constraints, while the decline in activity in the service sector did not change compared to the previous month. The pace of new jobs and their creation is decreasing. At the same time, business confidence declined due to concerns about the prospects for the domestic economy.
5 December, 16:30, GMT+7
GBP and its subsequent pairs
Forecast 47.2 (Actual 48.3)
U.S. ISM Non-Manufacturing Purchasing Managers Index (PMI) (Nov)
The index fell to 54.4 in October, pointing to the slowest growth in the services sector since May of 2020. Production, new orders and deliveries to suppliers grew the least. At the same time, employment, new export orders and inventories decreased. Based on the comments of the survey participants, the growth rates and business levels have decreased. There are still problems with attracting qualified workers, and due to the uncertainty of economic conditions, some companies refrain from filling open vacancies.
5 December, 22:00, GMT+7
USD and its subsequent pairs
Forecast 54.4 (Actual 54.4)
Australia Interest Rate Decision (Dec)
The Reserve Bank of Australia raised the rate by 25 bp to 2.85% during its November 2022 meeting. This is the seventh rate increase in a row, as a result of which the cost of borrowing has reached a level not seen since April 2013. The bank noted that further rate increases will be required, since inflation in Australia is too high and it is expected to peak around 8% this year, compared with previous forecasts of 7.75%. The amount and timing of further rate increases will be determined by incoming data.
6 December, 10:30, GMT+7
AUD and its subsequent pairs
Forecast 3.0% (Actual 2.85%)
Canada Interest Rate Decision (Dec)
The Bank of Canada raised the rate by 50 bp to 3.75% in October , instead of a more aggressive 75 bp increase. This was the sixth rate increase in a row, bringing the cost of borrowing to the highest level since 2008. The bank made it clear that interest rates will need to be raised further in order to curb inflation, which has not yet met expectations. The central bank also said it would continue its quantitative tightening policy.
7 December, 22:00, GMT+7
CAD and its subsequent pairs
Forecast 4.25% (Actual 3.75%)
U.S. Producer Price Index (PPI) (Nov)
The producer price index in the United States was unchanged in October of 2022, after a revised 0.2 % increase in September and compared to market expectations of a 0.3 % rise. Year-on-year, core producer prices advanced 6.7%, below market expectations of 7.2 %.
9 December, 20:30, GMT+7
USD and its subsequent pairs
Forecast 0.2% (Actual 0.2%)