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Economic calendar: Second-tier US data, Fed speakers

8:33 AM 17 November 2022

  • European indices set for higher opening

  • Revision of European CPI data, second-tier releases from the US

  • 4 Fed members scheduled to speak today

European index futures point to a higher opening of the cash session on the Old Continent today. This comes after a downbeat Asian and US session and gives a chance for yesterday's drop not to extend onto a second trading day. The US dollar regained some strength and is the best performing G10 currency today. Meanwhile, EUR and CHF are top laggards. Stronger USD is putting pressure on commodity prices, leading to a small drop in oil and precious metals prices. Cryptocurrencies are also trading lower but scale of the move is relatively small for this market.

Economic calendar for the day ahead is light. While traders will be offered a CPI reading from the euro area but it will be a revision of data for October and therefore should not have a major impact on the markets. Dta from the United States will be released in the afternoon, including housing market data for October and jobless claims. However, a number of Fed speakers  expected today is more likely to trigger some USD moves than second-tier US data scheduled for today.

10:00 am GMT - Euro area, CPI inflation for October (final).

  • Headline. First release: 10.7% YoY

  • Core. First release: 5.0% YoY

1:30 pm GMT - US, housing market data for October.

  • Building permits. Expected: 1515k. Previous: 1564k

  • Housing starts. Expected: 1410k. Previous: 1439k

1:30 pm GMT - US, Philadelphia Fed index for November. Expected: -6.0. Previous: -8.7

1:30 pm GMT - US, weekly jobless claims. Expected: 226k. Previous: 225k

3:30 pm GMT - EIA natural gas storage. Expected: 66 bcf. Previous: 79 bcf

Central bankers' speeches

  • 1:00 pm GMT - Fed Bullard

  • 2:15 pm GMT - Fed Bowman

  • 2:40 pm GMT - Fed Mester

  • 3:40 pm GMT - Fed Kashkari

Top US earnings reports

  • Alibaba Group (BABA.US) - before market open

  • Kohl's Corporation (KSS.US) - before market open

  • Macy's (M.US) - before market open

  • Ross Stores (ROST.US) - after market close

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