September 29, 2023
October 2023 EVENTS
August’s ISM Manufacturing PMI printed at 48.5.
Possible influence: Volatile US Dollar, Gold and US Stocks
The RBA will meet to decide on interest rates. The current rate is 4.10%.
Possible Influence: Volatile Australian Dollar
OPEC+ Joint Ministerial Monitoring Committee will hold a meeting on February 1st. Its current deal is to cut production by 2 million barrels per day. Saudi Arabia has a voluntary production cut of 1 ml bpd while Russia has export cuts of 300,000 bpd - both until end 2023.
Possible Influence: Volatile Oil, Gasoline, and Natural Gas
The Unemployment rate for August rose to 3.8% from previous 3.5%. Non-Farm Payrolls for August came in at 187,000.
Possible Influence: Volatile US Dollar, Gold and US Stocks
Core CPI (excluding food and energy) was 4.3%, Year-over-Year in August. Top-line CPI for August came in at 3.7%, Year-over-Year, higher than expected 3.6%.
Possible Influence: Volatile US Dollar, Gold and US Stocks
Retail Sales grew to 0.6%, Month-over-Month, in August, which was higher than expected by the market.
Possible Influence: Volatile US Dollar, Gold and US Stocks
The central bank will meet to discuss interest rates and policy. The current interest rate is 5% after rates were kept unchanged at the previous meeting on September 6th.
Possible influence: Volatile Canadian dollar
The ECB will meet to set interest rates and to discuss policy on October 26th. The Eurozone deposit rate is currently at 4%.
Possible Influence: Volatile EUR, GER40
The Bank of Japan meets to set rates which are expected to remain at -0.10%
Possible Influence: Volatile Japanese Yen
The U.S. Central Bank’s 2-day meeting concludes on November 1st. They will announce their latest interest rate decision and hold a press conference after to discuss their outlook moving forward as well as their plans for adjustments to their balance sheet. The current rate is 5.5%. Rates were unchanged at their last meeting on September 20th.
Possible Influence: Volatile US Dollar, Gold and US Stocks
The 3rd Quarter earnings season kicks off traditionally with big banks declaring first and all the major listed global companies declaring their earnings in the coming weeks.
Possible Influence: Volatile US Stocks
The presidents of Russia and China are scheduled to meet in China to discuss mutual issues including energy, trade and the war in Ukraine.
Possible Influence: Volatile Gold prices