TOP 3 MARKET EVENTS IN UPCOMING WEEK – 06 DECEMBER 2021
06 Dec 2021
U.K. Construction Purchasing Managers Index (PMI)
WHEN: WHAT IT INFLUENCES:
6th DECEMBER 2021 GBP and its subsequent
pairs
WHAT’S HAPPENING:
The Chartered Institute of Purchasing and Supply (CIPS) Construction Purchasing Manager’s Index (PMI) measures the activity level of purchasing managers in the construction industry. A reading above 50 indicates expansion in the construction industry; a reading below indicates contraction. It gives an indication about the health of the construction section in the UK. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.
A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.
U.S. JOLTs Job Openings
WHEN: WHAT IT INFLUENCES:
8th DECEMBER 2021 USD and its subsequent
pairs
WHAT’S HAPPENING:
A survey done by the US Bureau of Labor Statistics to help measure job vacancies. It collects data from employers about their businesses’ employment, job openings, recruitment, hires and separations.
JOLTS defines Job Openings as all positions that are open (not filled) on the last business day of the month. A job is “open” only if it meets all three of the following conditions:
1. A specific position exists and there is work available for that position.
2. The job could start within 30 days, whether or not the establishment finds a suitable candidate during that time.
3. There is active recruiting for workers from outside the establishment location that has the opening.
A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.
Germany ZEW Economic Sentiment
WHEN: WHAT IT INFLUENCES:
7th DECEMBER 2021 EUR and its subsequent
pairs
WHAT’S HAPPENING:
The German Zentrum für Europäische Wirtschaftsforschung (ZEW) Economic Sentiment Index gauges the six-month economic outlook. A level above zero indicates optimism; below indicates pessimism. The reading is compiled from a survey of about 350 German institutional investors and analysts.
A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.