Market Events Daily Roundup – Wednesday 24 October.
These are the releases that often drive significant movements for currencies, indices, commodities and more.
Stay up to date with the events that move the trading needle.
|11:00||Markit Manufacturing PMI (Oct)||53.0||53.2|
The Manufacturing Purchasing Managers Index (PMI) released by the Markit Economics captures business conditions in the manufacturing sector.
It’s a leading indicator of economic health – businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company’s view of the economy.
|17:00||Bank Of Canada Interest Rate Decision||1.75%||1.50%|
Short term interest rates are the paramount factor in currency valuation – traders look at most other indicators merely to predict how rates will change in the future.
If the BoC has a neutral view on the Canadian economy and keeps the ongoing interest rate, the it’s seen as negative, or bearish for the CAD.
|17:00||Bank Of Canada Monetary Policy Report||–||–|
The Bank of Canada publishes a study of economic movements in Canada indicating a sign of new fiscal policy.
The study provides valuable insight into the bank’s view of economic conditions and inflation – the key factors that will shape the future of monetary policy and influence their interest rate decisions.
|17:00||Bank Of Canada Rate Statement||–||–|
It’s the primary tool the BOC uses to communicate with investors about monetary policy.
It contains the outcome of their decision on interest rates and commentary about the economic conditions that influenced their decision.