At 12:30 GMT, on Wednesday, the yellow metal's price started a drop, which lasted two hours, and gold lost 1.50% against the US Dollar. The move could be attributed to the publication of good US employment data. Namely, the ADP Non-Farm Employment Change was released at 517,000 instead of the forecast 400,000. However, the data was released at 12:15 GMT
On November 2, the Reserve Bank of Australia published its official Cash Rate and Rate Statement. In general, the bank left the Cash Rate unchanged and revealed that it would continue to purchase government assets until February 2022. However, the bank dropped the target of 10 basis points for the 2024 Australian Government bond. Quoting the statement: " maintain the cash rate
On Friday, at 12:30 GMT, the Canadian GDP data was published. Due to being lower than forecast, the GDP data caused a Canadian Dollar drop. The event caused a 42 base point 15 minute long surge of the USD/CAD currency exchange rate. On a month-to-month basis the Gross Domestic Product of Canada increased by 0.4%. However, the market consensus forecast
During the week, the top event of them all will take place. The US Federal Reserve Rate announcement on Wednesday is bound to take away attention from all the rest of the events. Although, there are still times, during which volatility will increase due to data being published. On Monday, the US ISM Manufacturing PMI will be published at 14:00 GMT.
At 12:30 GMT on Thursday, the US Advance GDP data for the quarter was released. The GDP grew by 2.0% instead of the forecast 2.6%. The EUR/USD reacted to the event with a 15 pip move up. However, immediately after, the rate dipped 10 pips, back to 1.1590. The dip was attributed to the Advance GDP Price Index, which
On October 28, the European Central Bank published its Monetary Policy Decisions. The central bank kept interest rates unchanged and revealed that it would continue its asset and pandemic purchase programs. Quoting the statement: " The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25%
On October 28, the Bank of Japan announced its Policy Rate and published the Monetary Policy Statement and the BOJ Outlook Report. In general, the bank kept its monetary policy unchanged, as the rate remained at -0.1% and the 10-Year Japanese Government Bond yield target would remain at 0.00%. Quoting the statement: " The short-term policy interest rate: The Bank will apply a
On October 27, the Bank of Canada announced its policy rate and published its Rate Statement together with the Monetary Policy Report. In general, the bank kept its interest rate unchanged. However, the bank revealed that it expects that it would hike interest rates in the middle of 2022. Moreover, the bank stated that it would end its quantitative easing
In general, during the week, the markets are expected to be impacted by Gross Domestic Product change data and two central bank announcements. Note that notable events will start on Wednesday. On Wednesday, at 12:30 GMT, the US Durable Goods Orders and Core Durable Goods Orders change data will be published. Also on Wednesday, at 14:00 GMT, the Bank of
At 08:30 GMT, the GBP jumped against peer currencies. The GBP/USD surged 30 base points or 0.22%. The move occurred due to the better than forecast United Kingdom Purchasing Managers Indices. The Markit Institute released survey results of services and manufacturing sector managers showed that the industry is more optimistic than previously assumed. Namely, the UK Flash Manufacturing PMI came in at
At 12:30 GMT, a 15 base point jump of the USD/CAD occurred, as the Canadian Consumer Price Index was revealed to be at 0.2% instead of the forecast 0.1%.
The week will have various notable data being released. Among them are UK CPI, Canadian CPI and the Manufacturing and Services Purchasing Managers Indices for Europe, US and the United Kingdom. On Wednesday morning, at 06:00 GMT, the UK Consumer Price Index will be published. Later on, at 12:30 GMT, the Canadian Consumer Price Index is scheduled to be released. Also on
At 12:30 GMT, the United States and Canadian statisticians published their monthly employment data. The US data negatively impacted the value of the US Dollar. In the meantime, the Canadian data came in better than the markets forecast. As a result, the USD/CAD pair dropped by more than 40 base points or 0.33%. The Employment Change for Canada was at 151,700.00
At 12:30 GMT, the US Dollar reacted to the publication of the monthly US employment data. An initial jump of 20 base points occurred on the EUR/USD charts. Afterwards, it appeared that the currency exchange rate began a surge. The US employment data sets came in mixed. The US Average Hourly Earnings increased by 0.6% instead of the forecast 0.4%. The
During the week, most volatility could be caused by the US Consumer Price Index, Producer Price Index and Retail Sales data. On Wednesday, the US Consumer Price Index and Core Consumer Price Index data will be published at 12:30 GMT. Later on, on Wednesday, some new information could be found in the FOMC Meeting Minutes release at 18:00 GMT. Namely,
On October 6, the Reserve Bank of New Zealand made a rate statement. The bank hiked interest rates for the first time in seven years. Namely, the base rate was increased from 0.25% to 0.50%. Moreover, the bank stated that it would gradually remove monetary stimulus to battle inflation. Quoting the statement: " The Monetary Policy Committee agreed to increase the Official
On October 5, the Reserve Bank of Australia made a Rate Statement. In general, the central bank kept its interest rate unchanged at 0.10%. However, the central bank revealed that there would not be an environment in Australia for a rate hike as far as April 2024. Quoting the statement: "Maintain the cash rate target at 10 basis points and the interest
On Thursday, the Czech National Bank raised its base interest rate by 75 base points. This was the biggest rate hike of the bank since 1997. The event caused a more than 1.00% jump of the value of the Czech Koruna.
The week will experience three notable events. Namely, the Australian and New Zealand central bank rates and the US Employment data publication. On Tuesday, the Reserve Bank of Australia is set to publish its Rate Statement and Cash Rate at 03:30 GMT. Australian Dollar traded assets are expected to experience volatility. Also on Tuesday, the US ISM Services PMI at 14:00 GMT
During the week, top events will be the US and Canadian Gross Domestic Product releases. The US data is set to be released on Thursday at 12:30 GMT. The Canadian GDP will be out on Friday at 12:30 GMT. However, before the GDPs, there are other events which could cause minor volatility. On Monday, a slight move on all USD
On September 23, the Swiss National Bank announced its monetary policy for the near term future. In general, the bank stated that it sees its policy as suitable and would not change anything. Moreover, the Chairman of the bank stated in a press conference afterwards that there is no reason to change the policy. Quoting the statement: " The SNB is maintaining
On September 23, the Bank of England published its Monetary Policy Summary. The document reveals the future BoE Asset Purchase Facility, Official Bank Rate and how the Monetary Policy Committee voted on both the rate and the asset buying. Quoting the statement: " The Bank of England's Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in
On September 22, the US Federal Reserve Federal open Markets Committee published its Economic Projections and Statement in addition to the Federal Funds Rate. Namely, US Monetary policy was revealed. In general, the bank revealed that inflation in US had been picking up. Due to that reason, the central bank will keep its policy intact until the 2% inflation target
On September 22, the Bank of Japan published its Monetary Policy Statement. The four page statement essentially revealed that the future is highly unclear during Covid 19, asset purchases would remain unchanged, economic recovery would occur at a slower pace. Quoting the statement: "The Bank will apply a negative interest rate of minus 0.1 percent to the Policy-Rate Balances in current