U.K. Composite Purchasing Managers’ Index (PMI)
WHEN: WHAT IT INFLUENCES:
23rd NOVEMBER 2021 GBP and its subsequent
pairs
WHAT’S HAPPENING:
The Composite PMI Index measures the activity level of purchasing managers in the both sectors. A reading above 50 indicates expansion in the sector; a reading below 50 indicates contraction. 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:
24th 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.
European Central Bank President Lagarde Speaks
WHEN: WHAT IT INFLUENCES:
25th NOVEMBER 2021 EUR and its subsequent
pairs
WHAT’S HAPPENING:
European Central Bank (ECB) President Christine Lagarde (November 2019 – October 2027) is to speak. As head of the ECB, which sets short term interest rates, she has a major influence over the value of the euro. Traders watch her speeches closely as they are often used to drop subtle hints regarding future monetary policy and interest rate shifts. Her comments may determine a short-term positive or negative trend.
