TOP 3 MARKET EVENTS IN UPCOMING WEEK – 06 NOVEMBER 2021

TOP 3 MARKET EVENTS IN UPCOMING WEEK – 06 NOVEMBER 2021

TOP 3 MARKET EVENTS

U.K. Gross Domestic Product (GDP) YoY 

 WHEN:                                                                WHAT IT INFLUENCES:

11 th NOVEMBER  2021                                            GBP and its subsequent

                                                                             pairs

WHAT’S HAPPENING:

The Manufacturing Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion in the sector; below 50 indicates contraction. 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. Crude Oil Inventories

WHEN:                                                                 WHAT IT INFLUENCES:

10th NOVEMBER 2021                                         USD and its subsequent

                                                                             pairs

WHAT’S HAPPENING: 

The Energy Information Administration’s (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation.

If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices. The same can be said if a decline in inventories is less than expected.

If the increase in crude is less than expected, it implies greater demand and is bullish for crude prices. The same can be said if a decline in inventories is more than expected.

Germany ZEW Economic Sentiment

WHEN:                                                               WHAT IT INFLUENCES:

9th NOVEMBER  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.

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