Forex and other markets news

Germany Manufacturing Purchasing Managers Index (PMI) (Oct)

The Germany Manufacturing PMI fell to 47.8 in September, marking its third consecutive month of decline and the fastest since June 2020. The inflow of new jobs has slowed amid rising prices and deteriorating economic prospects, with export sales falling the most due to weakening demand from China. Meanwhile, business sentiment worsened to a 2.5-year low in September due to concerns about energy prices and supply and the effects of high inflation.

24 October, 14:30, GMT+7      

                            

EUR and its subsequent pairs 

Forecast 48.3 (Actual 47.8)

CB Consumer Confidence (Oct)

The Consumer Sentiment for the U.S. rose to 108.0 in September, the highest level in six months. The average expected inflation rate for the year ahead has increased, while growth varies according to age, income, and education. Confidence has risen above its historical low, but this is only a preliminary improvement, as the expectations index has fallen since last month. The continued uncertainty regarding economic and financial markets around the world indicates that consumers have a tough road ahead.

25 October, 21:00, GMT+7   

                                                    

USD and its subsequent pairs 

Forecast 106.0 (Actual 108.0)

BoC Interest Rate Decision

The Bank of Canada raised the rate by 75 bp to 3.25% in September, the fifth consecutive rate hike. The bank said it will continue its quantitative tightening policy, noting that the Canadian economy is developing in general in accordance with the July forecast, as well as that the consequences of COVID-19 and ongoing supply disruptions continue to restrain growth and raise prices.

26 October, 21:00, GMT+7     

                                                 

CAD and its subsequent pairs 

Forecast 3.25% (Actual 3.25%)

ECB Interest Rate Decision (Oct)

The ECB raised rates by an unexpected 75bp in September and signaled further hikes in the coming months, with markets already pricing in another 75bp increase in October. Policymakers are concerned about rising prices across the region, stating that inflation is likely to remain above target for a long time and that concerns about growth should not prevent a necessary increase in interest rates.

27 October, 19:15, GMT+7          

                                            

EUR and its subsequent pairs 

Forecast  1.25% (Actual 1.25%)

U.S. Gross Domestic Product (GDP) Q3

Following a 1.6% drop in Q1, the US economy contracted by 0.6% in the second quarter, confirming that the country has technically entered a recession. The main factors slowing down in Q2 were private stocks and investments in primary assets. A 0.2% annual growth rate is expected in 2022, as a strong increase in interest rates is expected to cause a significant decline in economic activity.

27 October, 19:30, GMT+7   

                                                   

USD and its subsequent pairs 

Forecast  2.0 (Actual -0.6)

Canada Gross Domestic Product (GDP) Aug

Preliminary estimates showed that the Canadian economy probably stalled in August compared to July 2022. The growth of retail and wholesale trade, as well as agriculture, forestry, fishing and hunting, is offset by a decrease in manufacturing and oil and natural gas production.

28 October, 19:30, GMT+7           

                                           

CAD and its subsequent pairs 

Forecast  -0.1 (Actual 0.1)