Now that Wednesday has arrived, it’s the perfect time to assess what is happening on the foreign exchange trading calendar – and what the next few days might have in store.
Today (Wednesday) is a somewhat light day on the economic calendar.
Canada looks set to dominate most of the day, with a series of economic data releases scheduled from 1:30pm GMT onwards.
The country’s central bank, the Bank of Canada, will release its core consumer price index covering the month of October then.
Year on year, this is expected to remain steady at 1.9%.
A variety of other versions of this data point, such as non-core figures and month on month calculations, will also be out then.
The European Central Bank’s Philip Lane will speak at 5pm GMT.
In further central banking action, the minutes of a meeting of the US Federal Reserve’s Federal Open Market Committee – which determines monetary policy – will be released at 7pm GMT.
Looking ahead to tomorrow (Thursday), the day will kick off with a credit card spending index out of New Zealand, covering the month of October.
This looks set to show a year on year change from 4.8% to 5.5%.
Japanese all-industry activity index data for September will be out at 4:30am GMT.
Month on month, this is forecast to show a change from 0% to -0.2%.
French business climate data for November will be out at 7:45am GMT.
This is predicted to show a change from 99 to 100.
A speech from Yves Mersch, who is on the Executive Board of the European Central Bank, is due to occur at 8:10am GMT.
Switching to the US, the afternoon will begin with a speech from the Federal Reserve’s Loretta J. Mester, who is the president and CEO of the Federal Reserve Bank of Cleveland.
Mester sits on the Federal Open Market Committee.
This is scheduled to take place at 1:30pm GMT.
Initial jobless claims for last week will be out at this time too.
This metric is expected to reveal a dip from 225,000 to 219,000.
Existing home sales data for October will be out at 3pm GMT.
Month on month, this is expected to show a change from 5,380,000 to 5,470,000.
In between the rounds of US data releases, there will be a speech from the governor of the Bank of Canada, Stephen Poloz.
He is due to speak at 1:40pm GMT.
Preliminary European consumer confidence data for November is due out at 3pm GMT.
This is expected to show a change from -7.6 to -7.3.
The US Federal Reserve’s Neel Kashkari, who serves as president and CEO of the Federal Reserve Bank in Minneapolis, will speak at 3:10pm GMT.
The day will come to a close with some Japanese economic statistics.
National consumer price index data for October will be out at 11:30pm GMT and is forecast to show a year on year change from 0.2% to 0.3%.
Excluding food and energy, it is due to show no year on year change from its current position of 0.5%.
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