On Tuesday, November 19, 2024, the economic calendar highlights significant global events and data releases.
The day begins with the U.S. TIC Net Long-Term Transactions for September, which showed a notable increase to $216.1 billion, far exceeding the $114.3 billion expectation and the previous figure of $108.8 billion. This signals strong foreign investment inflows into the U.S. economy.
In Australia, the RBA Monetary Policy Meeting Minutes will be released, potentially offering valuable insights into the Reserve Bank of Australia’s future policy direction.
In the Eurozone, speeches by ECB’s Elderson and Bundesbank’s Mauderer are scheduled, alongside the release of October inflation data. Both the Core CPI and headline CPI are expected to align with forecasts of 2.7% and 2.0% annually, respectively, while the monthly CPI is anticipated to rebound to 0.3% from -0.1%, suggesting price stabilization.
In the UK, multiple Bank of England (BoE) events are lined up, including speeches from Governor Andrew Bailey and MPC Member Mann, as well as a Treasury Committee Hearing. These events are expected to provide crucial insights into the BoE’s monetary policy outlook.
In the U.S., critical housing market data will be released, with building permits expected to rise slightly to 1.44 million, while housing starts are forecasted to decrease marginally to 1.34 million. Additionally, the Atlanta Fed GDPNow projection for Q4 remains steady at 2.5%, reflecting stable economic growth expectations.
In Canada, inflation data takes center stage, with the annual Core CPI forecasted to hold at 1.6% and the monthly CPI expected to recover to 0.3% from the previous -0.4%. These figures are critical for assessing inflation trends and monetary policy implications.
Overall, the day is packed with events and data that could significantly impact global financial markets, particularly in the currency, bond, and equity sectors. Investors are advised to closely monitor these developments for potential market shifts.
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