RICS House Price Balance Is Below Zero | Inflation Data From Both Americas Are Ahead
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Today there are no major economic events than the result of the US CPI report. In addition, there will be important speeches by members of the FOMC and other central banks, including the Bank of England of Canada.
RICS House Price Balance
The Royal Institution of Chartered Surveyors (RICS) House Price Balance was published early in the day. The result showed that the index fell sharply below zero. The current reading is at -2%. A drop from 30% to 20% was forecast, but the current figure has turned out to be more drastic. This means that house prices in the designated area have dropped drastically.
There has been a decline in prices since May, and the present one signifies a significant deepening of this trend.
The first speeches
The first speech of the day took place at 2:45 CET. The speaker was Michele Bullock serves as an Assistant Governor of the Reserve Bank of Australia (RBA).
The next speech was from America. Fed member Christopher J. Waller spoke at 9:00 CET
More speeches Ahead
Today also representatives of European banks will take the floor.
Andrea Maechler serves as Governing Board Member of the Swiss National Bank (SNB) is set to speak at 14:30 CET. At the same time will be speak Andrea Enria, Chair of Supervisory Board of the European Central Bank.
Speech by representatives of the Bank of England is scheduled for 15:00 CET and 15:10 CET. Speakers in turn: David Ramsden, Deputy Governor of the Bank of England and Silvana Tenreyro, a member of the Monetary Policy Committee (MPC).
Another Fed speech and one from the Bank of Canada are also planned.
Bank of Canada Member Governor Tiff Macklem will speak at 6:50 PM CET.
After the published reports, the following will speak: Federal Reserve Bank of Philadelphia President Patrick Harker, Federal Open Market Committee (FOMC) Member Mester and Federal Reserve Bank of Kansas City President Esther George.
All speeches can provide valuable information about the future of monetary policy actions of the banks concerned.
ECB Economic Bulletin
At 11:00 CET the ECB published a Bulletin.
The Economic Bulletin provides a comprehensive analysis of economic and monetary developments and interim updates on key indicators. Which can help investors to assess the future development of this region, as well as summarize the effectiveness of ECB's work
South Africa Manufacturing Production
Today, South Africa will also publish a report on Manufacturing Production. The shift from Y / Y of output produced by manufacturers is forecast to decline from 1.4% to -2.4%. A smaller index in this sector may indicate serious problems which the country's economy is struggling with, which will hinder the growth.
Brazil CPI
Brazil as well as the United States will publish inflation data.
In South America's largest economy, Y/Y inflation is expected to decline from 7.17% to 6.34%. It is very likely as the CPI has been in a downward trend since July.
Meanwhile, the CPI m/m is expected to increase from -0.29% to 0.48%.
US CPI
Expectations for US inflation are positive. Slightly dropping is expected.
Read more: Inflation In The USA Has A Chance Of Cooler| FXMAG.COM
Initial Jobless Claims
The number of individuals who filed for unemployment insurance for the first time during the past week is expected to increase by 3K weekly report. The last reading was at 217K and it was a positive reading as the level persisted for another week and the forecasts will increase to 220K. At 15:30 CET it will turn out if the reading is positive this time.
Summary:
- 2:01 CET RICS House Price Balance
- 2:45 CET South Africa Assist Gov Bullock Speaks
- 9:00 CET Fed Waller Speaks
- 11:00 CET ECB Economic Bulletin
- 13:00 CET RPA Manufacturing Production
- 14:00 CET Brazil CPI
- 14:30 CET SNB Gov Board Member Maechler Speaks
- 14:30 CET ECB's Enria Speaks
- 15:00 CET MPC Member Ramsden Speaks
- 15:10 CET MPC Member Tenreyro Speaks
- 15:30 CET US CPI
- 15:30 CET Initial Jobless Claims
- 16:00 CET FOMC Member Harker Speaks
- 18:50 CET BoC Gov Macklem Speaks
- 19:30 CET FOMC Member Mester Speaks
- 20:30 CET FOMC Member George Speaks
Source: https://www.investing.com/economic-calendar/
