RBNZ Interest Rate Reached 4.25% | Singapore CPI Drop | US Reports Ahead
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Today is full of important statistics from the USA. The first will be a report on durable goods orders, which will reflect the state of the industrial sector and consumer demand. In addition, there will be PMI reports from the European Union and the UK.
RBNZ Interest Rate Decision
Undoubtedly, Wednesday is a very busy day. The first important information came from Noerj Zealand. As expected, Reserved Bank Of New Zealand raised rates by 75bp. Thus, interest rates are the highest since 2008. RBNZ Interest Rate reached 4.25%.
CPI data
Singapore
At the beginning of the day, information about the level of inflation in Singapore also appeared. CPI and Core CPI reached lower than expected levels. CPI for October will amount to 6.7% against the last reading of 7.5%. Core CPI decreased by 0.2% and reached 5.1%. This may mean that inflation is heading to decline and reach a stable 2% level.
South Africa
The opposite movement of inflation took place in South Africa. CPI Y/Y increased to 7.6% and Core CPI Y/Y reached 5.0%
PMI data
French
Manufacturing PMI (Nov) rose from 47.2 to 49.1. Services PMI (Nov) fell to 49.4.
German
A similar situation took place in Germany. The Manufacturing PMI (Nov) rose to 46.7 and the Services PMI (Nov) fell 0.1 to 46.4. Both readings were greater than expected.
EU PMI
In the European Union, PMIs were higher than expected. The Services PMI (Nov) held its previous level of 48.6 against expectations of a decline to 48.0, and the Manufacturing PMI rose from 47.3.
In Europe, the manufacturing PMI improved while services declined or remained flat.
UK PMI
In the UK, declines were expected, but the Manufacturing PMI And Services PMI remained at its previous level. The Manufacturing PMI remained at 46.2 and the Services PMI at 48.8.
US PMI
In the US, PMI reports will appear at 16:45 CET. The manufacturing PMI is expected to decline while the services PMI is expected to increase slightly.
US Reports
Ahead of Thanksgiving, the US will release a broad package of reports. Weekly reports as well as reports from the real estate sector may have an impact on the situation in this and other economies.
Read more: Important US Reports Ahead, The Services And Manufacturing Projected Under 50| FXMAG.COM
Speeches
There will also be a lot of speeches today, especially from the Bank of England.
At 11:45 CET, David Ramsden, Deputy Governor of the Bank of England took the floor. His public engagements are often used to drop subtle clues regarding future monetary policy. At 12:30 the Bank of England Monetary Policy Committee (MPC) Member Pill took the floor. Dr Catherine L Mann serves as a member of the Monetary Policy Committee (MPC) of the Bank of England to speak at 15:45 CET. The last speeches from the islands will be at 5:30 pm CET and Huw Pill will speak again.
Representatives of the German bank will also take the floor. Two speeches are scheduled for 14:30 CET, Prof. Dr. Johannes Beermann and Professor Joachim Wuermeling are set to speak. At 16:00 CET Prof. Dr. Johannes Beermann will be speak again.
FOMC Meeting Minutes
The minutes are arrived today.
The minutes offer detailed insights regarding the FOMC's stance on monetary policy, so currency traders carefully examine them for clues regarding the outcome of future interest rate decisions.
Summary:
- 3:00 CET RBNZ Interest Rate Decision
- 7:00 CET Singapore CPI (YoY)
- 10:00 CET South Africa CPI (MoM) (Oct)
- 10:15 CET French PMI (Nov)
- 10:30 CET German PMI
- 11:00 CET EU PMI
- 11:30 CET UK PMI
- 11:45 CET MPC Member Ramsden Speaks
- 12:30 CET BoE MPC Member Pill Speaks
- 14:30 CET German Buba Beermann Speaks
- 14:30 CET German Buba Wuermeling Speaks
- 15:00 CET US Building Permits
- 15:30 CET US Core Durable Goods Orders
- 15:30 CET US Initial Jobless Claims
- 15:45 CET BoE MPC Member Mann
- 16:00 CET German Buba Beermann Speaks
- 16:45 CET US PMI
- 17:00 CET US New Home Sales
- 17:00 CET US Crude Oil Inventories
- 21:00 CET BoE MPC Member Pill Speaks
- 21:00 CET FOMC Meeting Minutes
Source: https://www.investing.com/economic-calendar/
