Economic calendar: central bank decisions and US ADP report in focus 🔎

Wednesday’s macroeconomic calendar is packed with interesting releases from the world’s largest economies as well as several central bank decisions. Earlier in the day, we already received the RBNZ interest rate decision. Ahead, markets will focus on Eurozone PPI inflation and the Polish Monetary Policy Council’s interest rate decision.

In the afternoon, attention will shift primarily to the US, where the ADP employment report and factory orders will be released. We will also receive the Bank of Canada interest rate decision and the latest EIA oil inventory report.

Detailed calendar for the day:

10:00 AM GMT – Eurozone: PPI inflation for July. Consensus: +0.3% MoM
01:15 PM GMT – US: ADP private employment report for August. Consensus: 75–95k, previous: 98k
02:00–03:00 PM GMT – Poland: RPP interest rate decision. Markets expect either a hold at 5.75% or a 25 bp rate cut
02:45 PM GMT – Canada: Bank of Canada interest rate decision. Rates expected to remain unchanged at 4.25%
03:00 PM GMT – US: Factory orders for July. Consensus: -0.3% MoM, unchanged from the previous reading
03:30 PM GMT – US: EIA oil and gas inventories. Expected crude oil inventory change: -1.5 million barrels

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