Monetary Policy Meeting Minutes AUD: The Reserve Bank of Australia (RBA) publishes the minutes of its monetary policy meeting two weeks after the interest rate decision is announced. It provides a detailed record of the discussions held between the RBA’s board members on monetary policy and economic conditions that influenced their decision on adjusting interest rates and/or bond buys, significantly impacting the AUD. The minutes also reveal considerations on international economic developments and the exchange rate value.
Claimant Count Change GBP: The change in the number of those claiming jobless benefits is an early gauge of the UK’s labor market. This release is scheduled around the middle of the month. An increase in applications is a sign of a worsening economic situation and implies looser monetary policy, while a decrease indicates improving conditions. A higher-than-expected outcome tends to be GBP-bearish.
German ZEW Economic Sentiment EUR: The Economic Sentiment published by the Zentrum für Europäische Wirtschaftsforschung measures the institutional investor sentiment, reflecting the difference between the share of investors that are optimistic and the share of analysts that are pessimistic. Generally speaking, an optimistic view is considered as positive (or bullish) for the EUR, whereas a pessimistic view is considered as negative (or bearish).
Empire State Manufacturing Index USD: The Empire State Manufacturing Survey conducted by the Federal Reserve Bank of New York gauges business conditions for New York manufacturers. Generally speaking, a positive result indicates bullish for US Dollar, while a negative result shows poor growth of US Dollar.
CORE PPI/PPI USD: The Producer Price Index released by the Bureau of Labor statistics measures the average changes in prices in primary markets of the US by producers of commodities in all states of processing. Moderate growth is likely to be the order of the day in the activity reports, while the housing numbers will be soft due to the rapid rises in mortgage borrowing costs that have prompted a collapse in demand. PPI should come in on the softer side of expectations, thanks to falling commodity prices and freight costs plus the strong dollar and easing supply chain pressures.
G20 Meetings: G20 meetings are attended by finance ministers and central bankers from 20 industrialized nations including the G7 nations – Canada, Italy, France, Germany, Japan, the UK, and the US. The meetings are closed to the press but officials usually talk with reporters throughout the day, and a formal statement covering policy shifts and meeting objectives is released after the meetings have concluded.