Economic calendar: CBRT rate decision, US Q3 GDP revision

7:50 AM 22 December 2022
  • European indices set for higher opening

  • CBRT expected to hold rates unchanged

  • Final release of US GDP report for Q3

Futures markets point to a higher opening of the European cash session today with DAX futures trading around 100 points above yesterday's cash close. This comes after an upbeat session in Asia, where Chinese stocks gained driven by the property sector. Chinese authorities announced new support measures for property companies. Cryptocurrencies are trading a touch higher while precious metals trade mixed. Oil gains around 0.2%.

Economic calendar for the day ahead is light but includes some interesting events. CBRT will announce final rate decision of the year today at 11:00 am GMT and is expected to keep main interest rate unchanged at 9.00%. Final release of the US GDP report for Q3 2022 will come at 1:30 pm GMT. However, as it will be the third release, revisions are expected to be minor if any and the market may ignore the data. Nevertheless, UK Q3 GDP revision released today at 7:00 am GMT showed a downward revision and triggered some weakness in GBP so some moves after US data are also possible.

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11:00 am GMT - Central Bank of Republic of Turkey rate decision

1:30 pm GMT - US, jobless claims. Expected: 225k. Previous: 211k

1:30 pm GMT - US, data pack for Q3 2022 (third release).

  • GDP growth (annualized). Second release: 2.9%

  • PCE Core. Second release: 4.6% QoQ

  • Consumer spending (annualized). Second release: 1.7%

3:30 pm GMT EIA Natural Gas storage change. Expected: -92 bcf. Previous: -50 bcf

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