Forex Market Economic Calendar for Tuesday 17th October 2017

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4 min

Today there is important economic data on inflation rate related to the UK and the Eurozone, US business and housing market data, plus the minutes from The Reserve Bank of Australia.
These are the most important economic events in the forex market today to be both informed and prepared for any volatility:

European Session

  1. Italy Trade Balance

Time: 08:00 GMT
A monetary based measurement of the difference between exports and imports. Exports surpassing imports means a surplus and is healthy for the economy. The forecast is for a decline in the figure.

  1. Speeches from ECB Officials

Time: 08:20 GMT and 09:30 GMT
Speeches from two members of the executive board of the European Central Bank.

  1. UK Inflation Rate and Core Inflation Rate

Time: 08:30 GMT
On a yearly basis the forecasts for inflation rate and core inflation for UK are for an increase to 3.0% from 2.9% for the inflation rate, and an unchanged reading of 2.7% for the core inflation rate, which excludes volatile food and energy prices. Any surprise may weigh on the Bank of England interest rate decisions, and high or rising figures are positive for the British Pound, increasing the odds of future interest rate increases by the Bank of England.

  1. Eurozone Inflation Rate and Core Inflation Rate, Eurozone and Germany ZEW Economic Sentiment Index

Time: 09:00 GMT
As in the case of UK, rising or higher than expected readings for the inflation rate are positive for the Euro, and the forecasts on a yearly basis are for a decrease for the core inflation with a reading of 1.1%, compared to the previous reading of 1.2%, and an unchanged reading of 1.5% for the inflation rate. Any surprise in these readings can move the Euro, either appreciating or depreciating it against other currencies depending on the real outcome.  The expectations for the economic index are for an increase in the figures of both the Eurozone and the German economy, indicating more optimistic future economic conditions, another positive factor for the Euro.

American Session

  1. Speeches from Fed and BoC Officials

Time: 01:00 GMT and 19:30 GMT
There are two speeches from central banks officials, one from the Fed and one from the Bank of Canada, with the forex market participants focusing on any new monetary policy or economic growth statements, which could move the US Dollar and the Canadian Dollar.

  1. US Import and Export Prices

Time: 12:15 GMT
Both prices are considered for the measure of inflation, with rising of higher than expected figures reflecting inflationary pressures, being positive for the US Dollar.

  1. US Industrial Production

Time: 13:15 GMT
Higher than expected readings are considered positive for the US Dollar and the US economy, reflecting growth in the industrial production, but can also mean inflationary pressures, as higher Industrial Production can lead to higher consumer and business spending, increasing the costs of goods and services. The forecast is for a monthly increase of 0.3% compared to the previous reading of -0.3%.

  1. US Overall Net Capital Flows, Foreign Bond Investment and Net Long-Term TIC Flows

Time: 20:00 GMT
All these readings measure the flows of various types of investments such as stocks, bonds and other funds to and from the US, and rising numbers indicate more capital in flowing in the US, indicating higher demand for US Dollar, which could lead to its future appreciation against other currencies.

  1. US API Weekly Crude Oil Stock

Time: 20:30 GMT
The American Petroleum Institute report measures the weekly petroleum demand and any surprises in the figures can move the crude prices.

Pacific Session

  1. RBA Meeting Minutes and Speech

Time: 00:30 GMT
As the interest rate decisions are set by the Reserve Bank of Australia, the forex market will weigh on any information or clear statements which could lead to a monetary policy shift in the future, or economic growth prospects which can move the Australian Dollar.
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