22ndNovember 2023
Wednesday
On Wednesday, November 22,2023, a key economic day is scheduled, featuring the Australian RBA GovernorBullock's speech, alongside the release of the United States UnemploymentClaims and the Revised University of Michigan Consumer Sentiment data.
AUD - RBA GovBullock Speaks
As the central bank's head, with control over short-terminterest rates, she holds significant sway over the nation's currency value,making her public engagements a focal point for traders who seek insights intofuture monetary policy.
The speech by RBA Governor Bullock is scheduled for Wednesday,November 22, 2023, at 08:35 AM GMT.
The last time, RBA Governor Bullock spokeon the 25th of October, 2023. You may find the marketreaction graph (AUDJPY M5) below:USD -Unemployment Claims
The number of unemployed individuals, often viewed as a lagging indicator, is pivotal in gauging a nation's economic health, as it directly influences consumer spending through labor market conditions and significantly impacts the formulation of a country's monetary policy.
During the week ending November 11, U.S. initial jobless claims climbed to 231,000, marking an increase of 13,000 from the prior week's revised level of 218,000, and the four-week moving average rose to 220,250, up by 7,750 from the previous revised average.
The forecast for U.S.unemployment claims suggests a decrease from the previous 231,000 to 225,000, signaling a potential improvement in the job market.
The upcoming release of the U.S.unemployment claims data is set for Wednesday, 22nd November 2023, at1:30 PM GMT, providing a fresh update on the nation's job market.
The last time, the US Unemployment Claimswas announced on the 16th of November, 2023. You may find the marketreaction graph (XAUUSD M5) below:USD - RevisedUoM Consumer Sentiment
Financial confidence serves as a crucial predictor of consumer spending, a component that significantly contributes to the majority of overall
In November 2023, the University of Michigan's consumer sentiment in the US dropped to a six-month low of 60.4, falling below the October figure of 63.8 and the forecast of 63.7. This decline reflects growing concerns over high interest rates and geopolitical tensions in Gaza and Ukraine. Additionally, inflation expectations for the coming year rose to 4.4%, the highest since April, with a five-year outlook increase to 3.2%, a peak not seen since March 2011. Furthermore, gas price expectations for both short and long terms have reached their highest levels this year.
TL;DR
Indicator
November 2023 Value
Comparison
1 Consumer Sentiment
60.4
Decrease from October (63.8) and below forecast (63.7)
2 Inflation Expectation (Next Year)
4.4%
Highest since April
3 Inflation Expectation (Next 5 Years)
3.2%
Highest since March 2011
4 Gas Price Expectation
Highest levels in 2023
Short and Long Term
The latest forecast for the RevisedUoM Consumer Sentiment Index points to a figure of 60.4, reflecting prevailing economic sentiments among U.S. consumers.
The upcoming release of the RevisedUoM Consumer SentimentIndex is scheduled for Wednesday, November22, 2023, at 3:00 PM GMT.
The last time, the Revised UoMConsumer Sentiment Index was announced on the 16th of November, 2023. You may find the market reaction graph (GBPUSD M5) below:
CAD – BOC GovMacklem Speaks
As the leader of the central bank, which has the authority to set short-term interest rates, he holds significant sway over the nation's currency value, more than any other individual. Market participants pay close attention to his public appearances, as they frequently provide subtle indications about forthcoming monetary policy decisions.
Market volatility is often observed during his speeches, as traders analyze his remarks to glean insights into potential changes in interest rate policies.
The speech by BoC GovernorMacklem is scheduled for Wednesday, November 22, 2023, at 04:45 PM GMT.
Last time, BoC Governor Macklem spoke onthe 1st of November, 2023. You may find the market reaction graph(CADJPY M5) below:
