Forex and other markets news
Week Ahead News. 21.11 - 27.11
Week Ahead News. 21.11 - 27.11
New Zealand Interest Rate Decision (Nov)
In October, the Reserve Bank of New Zealand raised its rate by 50 bp to 3.5% , a level not seen since April 2015. The central bank said that core inflation remains too high, and the minutes of the meeting showed that the committee even discussed an increase of 75 bp. The Board noted further rate increases in the future, while noting that there are delays in the implementation of monetary policy.
23 November, 08:00, GMT+7
NZD and its subsequent pairs
Forecast 3.5% (Actual 3.5%)
German Manufacturing PMI (Nov)
The Germany Manufacturing PMI was revised lower to 45.1 in October, pointing to a fourth straight month of falling factory activity. Output shrank faster, and new orders declined at the fastest pace ever. Demand is suppressed by high inflation and the rapid rise in energy prices, as well as concerns about the prospects. Purchase levels fell the most, while employment growth accelerated slightly. It should be noted that business expectations have fallen to the lowest level since the beginning of 2020, the initial outbreak of COVID-19 amid concerns about persistently high inflation.
23 November, 15:30, GMT+7
EUR and its subsequent pairs
Forecast 47.00 (Actual 45.1)
U.S. New Home Sales (Oct)
New home sales in the United States fell to 603K in September. U.S. housing demand is falling sharply as the Federal Reserve aggressively raises interest rates to combat high inflation. The average sale price of new homes was 470,600 USD, which is 13.9% more than a year ago.
23 November, 22:00, GMT+7
USD and its subsequent pairs
Forecast 578K (Actual 603K)
German Ifo Business Climate Index (Nov)
The inched lower to 84.3 in October, the weakest since May of 2020. According to Ifo forecasts, Europe's largest economy will contract by 0.6% in the fourth quarter as the winter recession approaches. Research shows that every second company still expects a price increase in the next three months.
24 November, 16:00, GMT+7
EUR and its subsequent pairs
Forecast 83.3 (Actual 84.3)
German GDP (QoQ) (Q3)
Germany's economy grew by 0.3% in Q2. Private consumption expenditure was the only driver of growth. On an annualized basis, German GDP grew by 1.2 percent in Q3. Europe's largest economy continues to struggle with the effects of the Covid-19 pandemic, disruptions in supply chains and weakening external demand.
25 November, 14:00, GMT+7
EUR and its subsequent pairs
Forecast 0.3% (Actual 0.3%)