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Market Opportunities : Week 05-12-2022 - 09-12-2022
USDIDX: ISM United States Service Purchasing Managers Index (PMI) report for November is the most important economic event in the December 5 – 9 week. The Institute for Supply Management will release the Services PMI on December 5. In case the Services PMI decline for November is more than forecast, it will be bearish for US Dollar index.
AUDUSD: Reserve Bank of Australia interest rate decision on December 6 is an important event in the December 5 – 9 week. Traders are waiting to see if the policy makers maintain their hawkish stance or hike rates and continue interest rate hikes. Majority of traders expect a 25 basis point increase in the benchmark rate and reaffirmation of majority of policymakers’ support for further aggressive rate hikes will give the AUDUSD a bullish boost.
AUDUSD: Reserve Bank of Australia interest rate decision on December 6 is an important event in the December 5 – 9 week. Traders are waiting to see if the policy makers maintain their hawkish stance or hike rates and continue interest rate hikes. Majority of traders expect a 25 basis point increase in the benchmark rate and reaffirmation of majority of policymakers’ support for further aggressive rate hikes will give the AUDUSD a bullish boost.
Key Events to Watch
| Date | Country | Event | Forecast | Previous |
|---|---|---|---|---|
| 2022-12-05 | EUR | European Union Retail Sales m/m | -0.6% | 0.4% |
| 2022-12-05 | USD | ISM United States Non-Manufacturing Purchasing Managers Index (PMI) | ||
| 2022-12-06 | AUD | Reserve Bank of Australia (RBA) Interest Rate Decision | 2.85% | |
| 2022-12-06 | CAD | Ivey Canada Purchasing Managers Index (PMI) | 61.3 | 50.1 |
| 2022-12-07 | AUD | Australia Gross Domestic Product (GDP) q/q | 0.7% | 0.9% |
| 2022-12-07 | INR | Reserve Bank of India Interest Rate Decision | 5.90% | |
| 2022-12-07 | EUR | European Union Employment Change q/q | 0.2% | 0.2% |
| 2022-12-07 | EUR | European Union Gross Domestic Product (GDP) q/q | 0.2% | 0.2% |
| 2022-12-07 | CAD | Bank of Canada (BoC) Interest Rate Decision | 3.75% | |
| 2022-12-07 | USD | EIA United States Crude Oil Stocks Change | ||
| 2022-12-08 | BRL | Central Bank of Brazil Interest Rate Decision | 13.75% | |
| 2022-12-08 | JPY | Japan Gross Domestic Product (GDP) q/q | ||
| 2022-12-09 | NZD | New Zealand Electronic Card Retail Sales m/m | 0.2% | 1.0% |
