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Market Opportunities : Week 07-11-2022 - 11-11-2022
EURUSD: Euro zone retail sales report for September is an important economic event for forex markets. The Eurostat will release the Retail Sales report on November 8. In case the retail sales slows its decline after 2.1% drop over year in August - the EURUSD will get a bullish boost.
USDIDX: United States Consumer Price Index (CPI) report on November 10 is the key economic event of November 7-11 week. Investors will be watching closely to see whether the consumer inflation peaks or not. In case the core inflation doesn’t exceed the previous reading of 6.6% this may give some reason for the Federal Reserve to consider slowing the pace of interest rate hike at its December policy meeting instead of a 75 basis points increase that is widely expected now - USDISD will get a bearish boost.
USDIDX: United States Consumer Price Index (CPI) report on November 10 is the key economic event of November 7-11 week. Investors will be watching closely to see whether the consumer inflation peaks or not. In case the core inflation doesn’t exceed the previous reading of 6.6% this may give some reason for the Federal Reserve to consider slowing the pace of interest rate hike at its December policy meeting instead of a 75 basis points increase that is widely expected now - USDISD will get a bearish boost.
Key Events to Watch
| Date | Country | Event | Forecast | Previous |
|---|---|---|---|---|
| 2022-11-08 | EUR | European Union Retail Sales m/m | 0.3% | -0.3% |
| 2022-11-09 | NZD | New Zealand Electronic Card Retail Sales m/m | 0.2% | 1.4% |
| 2022-11-09 | USD | EIA United States Crude Oil Stocks Change | ||
| 2022-11-10 | CAD | Bank of Canada (BoC) Governor Macklem Speech | ||
| 2022-11-10 | MXN | Bank of Mexico Interest Rate Decision | 9.25% | |
| 2022-11-11 | GBP | United Kingdom Manufacturing Production m/m | 0.3% | -1.6% |
| 2022-11-11 | GBP | United Kingdom Gross Domestic Product (GDP) q/q | -0.1% | 0.2% |
| 2022-11-11 | GBP | United Kingdom Gross Domestic Product (GDP) m/m | -0.1% | -0.3% |
| 2022-11-11 | GBP | United Kingdom Gross Domestic Product (GDP) 3m/3m | -0.3% | |
| 2022-11-11 | HKD | Hong Kong Gross Domestic Product (GDP) q/q | -2.6% | -2.6% |
