Oct 22 – Economic Events Outlook – RBA Speeches in Focus
Arslan Butt • 2 min read
During the Asian session, the market traded sideways in the absence of major fundamentals. Although, this week marks one of the busiest ones as investor focus stays on the third-quarter earnings reports, particularly, from names like Amazon, Google parent Alphabet, Boeing and McDonald’s which are all set to report in the coming days.
The Bank of Canada is also highly anticipated to hike the interest rate by 25 base points, while there are not many expectations from the European Central Bank. However, today’s economic calendar is dry and isn’t offering much to trade. Let’s take a quick look at the events before we begin our trading day.
Watchlist – Top Economic Events This Week
The market is likely to consolidate in narrow ranges due to the lack of major fundamentals and investors will be looking to trade the technical trading setups.
ECB – German Buba Monthly Report
At 10:00 (GMT), the Deutsche Bundesbank will be releasing the monthly report on the German economy. Typically, it contains relevant articles, speeches, statistical tables, and provides a detailed analysis of current and future economic conditions from the bank’s viewpoint.
The optimistic view of Deutsche Bundesbank on German economy will extend support to the single currency Euro. Else, we may see a selling opportunity today.
CAD – Wholesale Sales m/m
At 12:30, the Statistics Canada will be reporting a change in the total value of sales at the wholesale level. Considering the new NAFTA deals, this figure should be positive, shouldn’t it?
Not really, since the figure comes out 50 days after the month’s end, this current wholesale figure belongs to July and at that point of time, the conflicts between the US and Canada were at a peak. Thus, we should be ready to capture drop in the wholesale sales.
AUD – RBA Assist Gov Debelle Speaks
Reserve Bank of Australia Assistant Governor Guy Debelle is scheduled to speak at the International Swaps and Derivatives Association conference in Sydney. Audience questions are expected at 22:35 (GMT).
Debelle is responsible for advising Reserve Bank Board members – who decide how to set the nation’s key interest rates – on matters relating to economics, and his public engagements are often used to drop subtle clues regarding future policy shifts which is why his remarks can be important for the Aussie.
Good luck for today!