Interest Rate Decisions in UK, Australia, EU - Weekly Report 1-5/12/14
On the first trading day of the new month, all eyes are on America’s ISM Manufacturing PMI for November at 13:00, which was previously at the level of 59. Banc De Binary analyst Lauren Carmouche says it’s unclear where US growth will come from, in comments in our other video clip series ‘In The Money’. So, keep an eye out on this data for trading signals affecting the USD and related assets in the manufacturing sector.
Tuesday the 2nd sees the Royal Bank of Australia release its interest rate decision bright and early at 03:30. The rate currently stands at 2.5 percent, and Australia is keen to keep inflation under control, being one of the few international economies that is seeing positive growth levels.
At half-past-midnight on Wednesday the 3rd, Australia announces the headline GDP rate for the third quarter, previously reported at 3.1 percent on an annual basis. Later in the day, the UK releases its Autumn Forecast Statement, amid a conservative policy from the Bank of England and a cautious fiscal approach. The next big event is at 15:00, when Bank of Canada releases its Interest Rate Decision, expected to remain at one percent, barring any unforeseen surprises. Also at 15:00, the US releases ISM Non-Manufacturing PMI data for November, previously reported at 57.1 and expected to rise to 57.9.
There are more interest rate decisions on Thursday the 4th, starting with the Bank of England’s rate – currently at 0.5% - that’s due to be announced at 12:00. At 12:45, the European Central Bank releases its Interest Rate Decision, the key rate was previously at 0.05%.
On Friday the 5th, the attention is on the Eurozone’s GDP rate for the third quarter, due to be announced at 10:00. Previously at the level of 0.8 percent on an annual basis, Europe is fighting deflation and slow growth that is best described as a snail’s pace. At 13:30, the US releases Non-Farm Payroll figures for November, easily the biggest trading event of the week. NFP was previously at the level of 214,000, and is expected to come in at 230,000 – barring any unforeseen surprises. The unemployment rate in the US is currently at 5.8 percent and is seen as unchanged in the upcoming official figures.
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