Forex Market Economic Calendar for Thursday 23rd November 2017

November 23, 2017

3 min

Today is a holiday in the US as it is the Thanksgiving Day, but there are several important economic data, related to the Euro, British Pound, Canadian Dollar and New Zealand Dollar. As the liquidity for the US Dollar will be significantly lower than usual trading sessions, we may witness moderate to high volatility for several currencies, both due to the lack of normal liquidity and due to the importance of the data itself.
These are the main economic events for today in the Forex market:

European Session

  1. Germany GDP Growth Rate, Markit Manufacturing PMI, Markit Services PMI

Time: 07:00 GMT, 08:30 GMT
Higher than expected or rising figures for the GDP growth rate and the Markit PMI Indexes are positive for the German economy, and the Euro, signaling a growing and expanding economy. The forecast for the GDP growth rate is for an increase on a quarterly basis with a reading of 0.8%, higher than the previous reading of 0.6%. The Manufacturing PMI is expected to decline marginally, while the Services PMI to increase marginally, but both indexes are expected to be well above the 50.0 level, indicating further expansion for the sectors, a positive factor for the Euro.

  1. France Business Confidence, Markit Services PMI, Markit Manufacturing PMI

Time: 07:45 GMT, 08:00 GMT
Business Confidence for France is expected to remain unchanged with a reading of 111.00, while both the Services PMI and Manufacturing PMI are expected to decline marginally. As mentioned for Germany, they are expected to remain well above the 50.0 level, reflecting expansion at a lower growth.

  1. Eurozone Markit Manufacturing PMI, Markit Services PMI, ECB Monetary Policy Meeting Accounts

Time: 09:00 GMT, 12:30 GMT
The figures for the Eurozone Markit PMI Indexes are expected to show a decline for the manufacturing PMI, and an increase for the Services PMI. The ECB account of the monetary policy meeting is important being a review of financial, economic and monetary developments and policy options, providing insights on future financial market developments, and can have an influence on the Euro.

  1. UK GDP Growth Rate, Business Investment

Time: 09:30 GMT
The UK GDP Growth Rate is expected to remain unchanged at 0.3% on a quarterly basis, and also unchanged at 1.5% on a yearly basis, while the Business Investment is expected to decline with a reading of 1.4%, lower than the previous reading of 2.5% on a yearly basis. This investment reading is important indicating investment trends and various capital expenditures. These readings can be considered neutral to negative, and can add increased volatility for the British Pound.

  1. SNB Chair Jordan Speech

Time: 16:30 GMT
The speech of the Swiss National Bank Chair is important for any statements which may indicate changes in monetary policy and economic conditions.

American Session

  1. Canada Retail Sales

Time: 13:30 GMT
On a monthly basis the Retail Sales are expected to rise to 0.9%, significantly higher than the previous figure of -0.3%, a positive and supportive factor for the Canadian Dollar, reflecting higher consumer spending and future higher economic growth.

Pacific Session

  1. New Zealand Balance of Trade

Time: 21:45 GMT
The Balance of Trade for the New Zealand is expected to show a trade deficit, which will be narrower compared to the previous figure. Although trade deficits in the balance of trade in general are considered negative for the local currency, this improvement in the trade deficit, can be considered a neutral to positive factor, and there may be a volatile price action for the New Zealand upon the release of the actual data.

What should you learn next? Turn the wheel to find out!

rainbow circle

Master Stop-Loss and Take-Profit Feature

share

previous post

All About the IQ Option Tournaments: Rules, Strategies and Tips
IQ Option tournaments
All About the IQ Option Tournaments: Rules, Strategies and Tips

next post

EUR/USD
US Recovery Still Spotty at Best
US Recovery Still Spotty at Best

Latest posts

All About the IQ Option Tournaments: Rules, Strategies and Tips

14.11.2024

IQ Option tournaments

11 Life Lessons We’ve Learned From 11 Years Of Trading

11.11.2024

11 years of IQ Option

The 2024 US Election: How Will the Markets React?

31.10.2024

US election impact on markets

Breaking a Losing Streak

29.10.2024

How to Trade Commodities on IQ Option: A 360° Guide

14.10.2024

Trading commodities on IQ Option

The US Presidential Race 2024 Market Influence: What You Need to Know Now

11.10.2024