(23th - 27th October 2023) Weekly News Update by LQDFX

Daniel LQDFX

Trader
Jul 21, 2023
86
0
12
42

(Week of 23th - 27th) October 2023


24 October 2023​

Tuesday​

On October 24, 2023, the financial markets are poised for significant developments as a series of high-impact news announcements are on the horizon. The United Kingdom is gearing up to unveil its Claimant Count Change data, while France, Germany, the United Kingdom, and the United States are all scheduled to release their eagerly anticipated Flash Manufacturing and Flash Services Purchasing Managers' Index (PMI) reports. These releases are expected to have a notable impact on the global economic landscape, making it a crucial date for investors and analysts alike.​


GBP - Claimant Count Change​

Traders closely monitor unemployment data as it serves as a vital predictor of the broader economic well-being, despite being a lagging indicator. Labor market conditions hold a significant correlation with consumer spending, and unemployment plays a pivotal role in shaping a nation's monetary policy.

As of September 12, 2023, the United Kingdom experienced a slight uptick of 0.9 thousand individuals in search of unemployment-related benefits. Notably, this number stood considerably below the earlier forecast of 17.1 thousand and the preceding recorded figure of 7.4 thousand.

In an eagerly anticipated economic development, the forecast for the Claimant Count Change is pointing towards an increase of 2.3 thousand individuals. This projection suggests a rise in the figures, signaling potential shifts in the labor market landscape.

The upcoming announcement is scheduled for Tuesday, October 24th, at 07:00 AM GMT+1.

Last time, the Claimant Count Change was announced on the 12th of September, 2023. You may find the market reaction graph (GBPUSD M1) below:

1 - GBPUSD GBP Claimont Count.jpg

EUR – French Flash Manufacturing PMI​

For traders, this holds great importance since it serves as a leading indicator of economic health. Businesses react swiftly to market conditions, and their purchasing managers hold some of the most up-to-date and relevant insights into a company's outlook on the economy.

In September 2023, the S&P Global France Manufacturing Purchasing Managers' Index (PMI) was revised slightly upward to 44.2 from the initial estimate of 43.6, although it remained below August's reading of 46. This marked the eighth consecutive month of contraction, the most severe since May 2020, with notable declines in production and new orders. Across different industrial sectors, capital goods and intermediate goods experienced sharp contractions, while the consumer goods segment saw its first decline in four months. Simultaneously, purchasing activity, inventories, and employment decreased, indicating businesses' efforts to enhance cash flow amidst weakened demand. Both input and output prices fell, and business expectations for the next year remained pessimistic, anticipating further output decline.

The projection for the French Flash Manufacturing Purchasing Managers' Index stands at 45.1, indicating a marginal uptick compared to the previous reading.

The upcoming announcement is scheduled for Tuesday, October 24th, at 8:15 AM GMT+1.

EUR – French Flash Services PMI​

This data holds a high degree of importance due to its role as a leading indicator for assessing economic health. Businesses react promptly to market dynamics, and the insights provided by their purchasing managers are exceptionally current and relevant in gauging the company's economic outlook.

In September 2023, the HCOB France Services PMI declined to 44.4, marking the fourth consecutive contraction period and the most significant decrease since November 2020. This drop was attributed to a combination of slowing market conditions and diminishing demand. New business experienced its most substantial decline in nearly three years, while activity levels decreased for the fourth consecutive month. Export orders also declined significantly, reaching their second-steepest rate on record, excluding the months most affected by the pandemic. Notably, despite the absence of overall business growth, employment rates rose faster than in August, surpassing the historical survey average. Rising input costs, driven by increased wages and fuel pressures, led to a corresponding increase in output charges. Additionally, business sentiments for the 12-month outlook became less optimistic and reached their lowest point since October 2020.

TL;DR
Post Table 1.png

The forecast for the French Flash Services Purchasing Managers' Index is currently at 44.9, signaling a modest improvement compared to the prior reading.

The upcoming announcement is scheduled for Tuesday, October 24th, at 8:15 AM GMT+1.


EUR - German Flash Manufacturing PMI​

Market observers closely monitor this data as it functions as a prominent indicator of economic health. Businesses demonstrate rapid responsiveness to prevailing market conditions, and the insights provided by their purchasing managers offer the most up-to-date and relevant information regarding the company's economic outlook.

In September 2023, the HCOB Germany Manufacturing PMI was revised slightly lower to 39.6 from the preliminary figure of 39.8, indicating the fifteenth consecutive month of contraction in the manufacturing sector. This contraction was driven by a significant decline in output, the sharpest in almost three-and-a-half years, coupled with a continued drop in new orders. Multiple factors, including customer uncertainty, stock reduction efforts, and weakness in construction activity, contributed to weaker demand. Additionally, backlogs of work decreased steeply, leading manufacturers to reduce staffing, resulting in the third consecutive month of falling factory employment. Input costs and output charges also saw declines, and there was a notable decline in goods producers' expectations for future output, reaching their lowest point since November of the previous year.

TL;DR

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The forecast for the German Flash Manufacturing Purchasing Managers' Index is set at 41.5, suggesting a slight increase when compared to the previous reading.

The upcoming announcement is scheduled for Tuesday, October 24th, at 8:30 AM GMT+1.


EUR - German Flash Services PMI​

This metric holds importance due to its role as a leading economic indicator. As businesses are acutely attuned to market conditions, the insights provided by their purchasing managers offer up-to-date and pertinent assessments of the overall economic outlook.

The final reading for the HCOB Germany Services PMI in September 2023 revealed an increase to 50.3, surpassing preliminary estimates of 49.8 and marking a marginal expansion from the previous month's 47.3. Despite this improvement, subdued demand and challenges in securing new business led to a sharper decline in new orders. Companies relied on backlogs of work to sustain activity, while factors like customer reluctance, inflationary pressures, and tighter financial conditions posed obstacles to securing new work. Consequently, employment saw a decline for the first time since mid-2020. Input costs continued to grow, primarily driven by wage increases, while output charges advanced at their slowest rate in nearly two-and-a-half years. Looking forward, sentiment among German service providers worsened, with Dr. Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank, suggesting that the sector's downturn was likely to persist.

TL;DR

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The projection for the German Flash Services Purchasing Managers' Index is at 50.2, indicating a slight decline in comparison to the prior reading.

The forthcoming announcement is scheduled for Tuesday, October 24th, commencing at 8:30 AM GMT+1.


GBP - Flash Manufacturing PMI​

This data is closely monitored because it functions as a leading indicator of economic well-being. Businesses respond rapidly to market conditions, and their purchasing managers possess the most up-to-date and pertinent insights into the company's perspective on the economy.

In September 2023, the S&P Global/CIPS UK Manufacturing PMI registered at 44.3, displaying marginal change from the preliminary estimate of 44.2 and a slight improvement from August's 39-month low of 43.0. However, it still marked one of the lowest readings in the past 14 years. The sector witnessed a seventh consecutive month of output decline, driven by persisting market uncertainties, a cost-of-living crisis, and subdued overseas conditions. Employment experienced its twelfth successive monthly decrease, with the rate of decline ranking as the second-steepest in this period, while backlogs of work contracted at their fastest pace since April 2020. Input costs continued to decline at a rate close to the over-seven-year record set in August, while average selling prices saw their first increase in four months. Business confidence also saw a decline.

TL;DR

Post Table 4.png

The forecast for the UK Flash Manufacturing is yet to be determined. Once available, the post will be updated accordingly.

The forthcoming announcement is set for Tuesday, October 24th, at 09:30 AM GMT+1.


GBP - Flash Services PMI​

This data garners significant attention as it serves as a leading indicator of economic health. Businesses demonstrate swift responses to market dynamics, with their purchasing managers offering the most current and relevant insights into the company's economic outlook.

In September 2023, the S&P Global/CIPS UK Services PMI was adjusted upward to 49.3 from an initial reading of 47.2, although it still signified the lowest level since January. The report highlighted a fractional decrease in total new work and the first drop in export sales since November 2022. Backlogs of work declined for the fourth consecutive month at the second-fastest pace since February 2021. The sector also witnessed a decline in staffing, marking the first instance in over two and a half years, with the most substantial job shedding since the start of 2021. Inflation pressures showed some easing, with input price inflation reaching its lowest point since April 2021 and a similar trend in prices charged inflation, which was the weakest in 29 months. On a positive note, expectations for future business activity were generally optimistic, reaching a three-month high.

This indicates a challenging environment for the UK services sector, marked by declining workloads, exports, and employment, while inflation pressures are showing signs of moderation. However, businesses retain an overall optimistic outlook for future activity.

TL;DR

Post Table 5.png

In the forthcoming release, the UK Flash Services Purchasing Managers' Index is projected at 49.8, showing a slight uptick from the previous reading.

The upcoming announcement is scheduled for Tuesday, October 24th, at 09:30 AM GMT+1.

Last time, the Flash Manufacturing PMI and Flash Services PMI for EUR, and GBP were announced on the 22th of September, 2023. You may find the market reaction graph (EURUSD M1) below:

2 - EURUSD Flash Manu Services PMI.jpg

USD - Flash Manufacturing PMI​

This data garners substantial interest due to its role as a leading indicator of economic health. Businesses react promptly to market conditions, and their purchasing managers provide the most up-to-date and relevant insights into the company's economic outlook.

In September 2023, the S&P Global US Manufacturing PMI was revised upward to 49.8, surpassing the preliminary estimate of 48.9 and exceeding August's reading of 47.9. Although the sector recorded a fifth consecutive month of contraction, it was only slight. Output showed marginal growth, the quickest since May, while job creation remained moderate. New orders declined for the fifth consecutive month due to high interest rates and inflation affecting consumer demand. Input costs and output charges accelerated, though inflation rates remained historically low. Business confidence reached its highest level since April 2022, driven by optimism about improving demand conditions.

TL;DR

Post Table 6.png

The US Flash Manufacturing Purchasing Managers' Index is expected to reach 49.5 in the upcoming release, indicating a slight uptick from the previous reading.

The upcoming announcement is scheduled for Tuesday, October 24th, at 2:45 PM GMT+1.


USD - Flash Services PMI​

This data draws significant attention as it functions as a leading indicator of economic health. Businesses respond promptly to market dynamics, with their purchasing managers offering the most current and relevant insights into the company's economic outlook.

In September 2023, the S&P Global Services PMI for the US was revised slightly lower to 50.1 from a preliminary estimate of 50.2. This revision underscores the ongoing sluggish performance in the services sector, resembling the weakest since January. Business activity remained stagnant amid lackluster demand, with new orders declining for a second consecutive month due to reduced domestic and foreign client demand. Companies worked through their backlogs of work at the fastest rate since November 2022 to sustain current activity levels. Despite these challenges, firms continued to expand their workforce, driven by strong output expectations for the coming year. Input costs increased at a notable pace, similar to August, and efforts to pass on these higher costs to customers resulted in a quicker uptick in output charges. Business confidence, while matching August levels, remained below the series trend. Optimism centered on investments in new service offerings, increased marketing efforts, and hopes of stronger customer demand.

TL;DR

Post Table 7.png

The forecast for the US Flash Services Purchasing Managers' Index, is expected to reach 49.8 in the upcoming release, indicating a slight decrease from the previous reading

The forthcoming announcement is set for Tuesday, October 24th, at 2:45 PM GMT+1.

Last time, the Flash Manufacturing PMI and Flash Services PMI for USD were announced on the 22nd of September, 2023. You may find the market reaction graph (USDJPY M1) below:

3 - USDJPY Flash Manu Services PMI USD.jpg
 

Daniel LQDFX

Trader
Jul 21, 2023
86
0
12
42

25 October 2023​

Wednesday​

Wednesday, October 25th, 2023, is expected to be a bustling day in the financial markets, with several significant news announcements on the horizon. Australia will unveil its Consumer Price Index (CPI), Germany is set to release its German Ifo Business Climate data, while Canada is scheduled to announce its Overnight Rate, along with the Bank of Canada's (BOC) Monetary Policy Report, BOC Rate Statement, and a subsequent BOC Press Conference following the announcement.​


AUD - CPI q/q​

The Consumer Price Index (CPI) is closely monitored because of its significant influence on consumer prices, a major component of overall inflation. This emphasis on inflation is crucial for currency valuation, as central banks frequently raise interest rates in response to price increases to maintain effective inflation control. The complex relationship between CPI and monetary policy plays a pivotal role in the financial realm.

Australia's consumer prices had risen by 0.8% quarter-on-quarter in the second quarter of 2023, showing a deceleration from the 1.4% increase in the prior period and falling below market expectations of a 1.0% gain. This signified the smallest percentage increase in consumer prices since the third quarter of 2021.

Anticipating the latest economic data release, the forecast for the Australian CPI q/q is pointing to a modest uptick, with expectations set at 0.9%. This projection hints at a slight increase in inflationary pressures, which will be closely watched by market observers and policymakers alike.


AUD - CPI y/y​

In Australia, the monthly Consumer Price Index (CPI) for August 2023 showed a year-on-year increase of 5.2%, marking an acceleration from the 4.9% gain in July, which had been the lowest in 17 months and in line with expectations. This uptick in annual inflation was primarily driven by faster rises in transport prices, particularly automotive fuel. Other sectors where inflation accelerated included communications, education, and insurance and financial services. On the other hand, inflation eased for housing, food and non-alcoholic beverages, recreation and culture, and furnishing. Excluding volatile items and travel, the monthly CPI indicator rose by 5.5% in August. Inflation remained notably above the Reserve Bank of Australia's target range of 2-3%.

TL;DR

Post Table 8.png

In an eagerly awaited economic update, the forecast for Australia's CPI y/y is suggesting a marginal decline, with expectations hovering at 4.7%. This projection hints at a slight dip in the annual inflation rate, a development that will undoubtedly draw significant attention from economists, investors, and policy experts in the coming months.

Last time, the AUD CPI y/y was announced on the 27th of September, 2023. You may find the market reaction graph (AUDJPY M1) below:

4 - AUD CPI y-y.jpeg

AUD - Trimmed Mean CPI q/q​

The Reserve Bank of Australia's trimmed mean Consumer Price Index (CPI) increased by 0.9% quarter-on-quarter in the second quarter of 2023, showing a slowdown from the 1.2% rise in the previous period and falling short of market expectations of 1.1%. This marked the smallest increase in the trimmed mean CPI since the third quarter of 2021.

In the latest economic outlook, the forecast for the Australian Trimmed Mean CPI q/q remains steady at 0.9%, mirroring the previous announcement. This consistent projection suggests that inflationary pressures are holding steady, maintaining a status quo that will be closely monitored by market analysts and policymakers.

The forthcoming release of Australia's CPI data is scheduled for Wednesday, October 25th, 2023, at 01:30 AM GMT+1.


EUR - German ifo Business Climate​

This data is closely monitored as it serves as a leading indicator of economic health. Businesses react promptly to market conditions, and changes in their sentiment can offer early insights into forthcoming economic activities such as spending, hiring, and investment.

In September 2023, Germany's Ifo Business Climate indicator dipped slightly to 85.7, just below August's revised figure of 85.8, but surpassing market expectations at 85.1. This marked the fifth consecutive month of declining sentiment, with companies expressing less satisfaction with their current business situation compared to the previous month (88.7 vs. 89 in August). However, there was a slight improvement in optimism about the coming months (82.9 vs. 82.7). A breakdown by industry showed worsening sentiment among service providers and constructors, while manufacturers and traders saw modest improvements in their outlook.

TL;DR

Post Table 9.png

According to the latest forecasts, the German Ifo Business Climate is expected to experience a slight uptick, reaching 86.9, signaling a potential improvement in business sentiment.

The upcoming announcement is scheduled for Wednesday, October 25th, 2023, at 09:00 AM GMT+1.

Last time, the German ifo Business Climate for EUR were announced on the 25th of September, 2023. You may find the market reaction graph (EURJPY M1) below:

5 - EURJPY GERMAN IFO BUSINESS CLIMATE EUR.jpg

CAD - BOC Monetary Policy Report​

Typically, the BOC Governor conducts a press conference approximately 75 minutes following the release of this report. This conference offers valuable insights into the bank's perspective on economic conditions and inflation, which are crucial elements shaping future monetary policy and influencing their decisions regarding interest rates.

The report is scheduled for Wednesday, October 25th, 2023, at 3:00 PM GMT+1.


CAD – BOC Rate Statement​

This report serves as the primary means through which the BOC communicates its monetary policy stance to investors. It not only reveals the central bank's interest rate decision but also provides insights into the economic factors that guided that decision. Crucially, the report delves into the economic outlook and offers hints about the direction of future policy decisions.

The BOC Rate Statement is set to be disclosed on Wednesday, October 25th, 2023, at 3:00 PM GMT+1.


CAD - Overnight Rate​

Short-term interest rates hold a position of utmost significance in the valuation of currencies. Traders predominantly scrutinize various indicators as a means to anticipate future rate adjustments.

In its September 2023 meeting, the Bank of Canada left its overnight rate target unchanged at 5%, aligning with market expectations for a pause in its tightening cycle. The central bank cited a significant economic slowdown in Canada, primarily attributed to a 0.2% annualized contraction in the second quarter, influenced by a deceleration in household credit growth and its impact on overall demand. While considering the potential for prolonged effects of tighter monetary policy, the Governing Council opted to closely assess the relationship between current borrowing costs, inflation, and aggregate demand, refraining from immediate rate hikes. However, the Bank retained the option for future rate increases if inflation remains above the 2% target.

TL;DR

Post Table 10.png

The forecast for Canada's Overnight Rate suggests a forthcoming increase of 0.25 Bps. This projection signals a potential adjustment in the country's monetary policy.

The upcoming release of the Overnight Rate is scheduled for Wednesday, October 25th, 2023, at 3:00 PM GMT+1.

Last time, the CAD – Overnight Rate was announced on the 6th of September, 2023. You may find the market reaction graph (USDCAD M1) below:

6 -12th July Overnight Rate USDCAD.jpg

CAD - BOC Press Conference​

This report constitutes one of the central tools employed by the Bank of Canada (BOC) to engage with investors on matters of monetary policy. It offers a comprehensive analysis of the key elements influencing the latest interest rate determination, encompassing factors like the broader economic landscape and inflation. Crucially, it furnishes valuable insights into the BOC's prospective monetary policy directions.

The BOC Press Conference is scheduled for Wednesday, October 25th, 2023, at 4:00 PM GMT+1.








26 October 2023​

Thursday​

On October 26, 2023, significant events are expected to unfold for both the Euro and the USD. The European Central Bank will unveil its Main Refinancing Rate alongside the Monetary Policy Statement and ECB Press Conference. Simultaneously, the United States is scheduled to announce the Advance GDP q/q and Unemployment Claims data, setting the stage for potentially impactful developments in the financial landscape.​


EUR - Main Refinancing Rate​

Short-term interest rates are a primary driver of a currency's value, while other indicators primarily function as tools for forecasting future rate changes.

The ECB raised interest rates by 0.25 percentage points. While inflation had been decreasing, it was expected to remain high. The ECB's Governing Council was determined to restore inflation to its 2% target and, as a result, decided to increase the three key ECB interest rates. This decision was based on their evaluation of economic data and inflation trends. Despite upward adjustments to inflation projections for 2023 and 2024, economic growth forecasts were revised downwards due to tighter financing conditions, with modest growth being anticipated in the euro area in the coming years. The ECB had planned to maintain these elevated interest rates for as long as necessary to facilitate the return of inflation to its target.

TL;DR

Post Table 11.png

The European Central Bank's forecast indicates that the interest rate will remain unchanged, holding steady at 4.50%. This projection suggests a continuation of the current monetary policy stance.

The forthcoming Main Refinancing Rate announcement is scheduled for Thursday, October 26, 2023, at 1:15 PM GMT+1.

Last time, the Main Refinancing Rate for EUR was announced on the 14th of September, 2023. You may find the market reaction graph (EURUSD M1) below:


7 - EURUSD EUR Refinancing Rate.jpg
EUR - Monetary Policy Statement​

This announcement holds substantial significance as it functions as the ECB's principal means of communicating with investors regarding monetary policy matters. It compiles the results of their interest rate determinations and provides valuable insights into the economic factors that underlie these decisions. Particularly noteworthy is its inclusion of economic projections, which offer hints about forthcoming policy actions.

The Monetary Policy Statement is set to be released on Thursday, October 26, 2023, at 1:15 PM GMT+1.


USD - Advance GDP q/q​

This indicator is of significant interest because it represents the most comprehensive measure of economic activity and serves as the primary gauge for evaluating the overall health of the economy.

In the second quarter of 2023, the US economy exceeded market expectations by expanding at an annualized rate of 2.4%, up from the previous quarter's 2%. This growth was driven by a significant increase in nonresidential fixed investment, particularly in equipment and intellectual property products. Private inventories made a positive contribution to growth, while consumer spending slowed but remained above market estimates due to moderating inflation and a tight labor market. Public expenditure grew at a slower pace, and net trade negatively impacted growth due to a decline in exports and imports. Residential investment continued to decline.

TL;DR

Post Table 12.png

In an eagerly awaited economic forecast, the projection for the Advance GDP q/q growth stands at 4.1%. This figure provides crucial insight into the anticipated performance of the economy and is closely watched by analysts and investors for its potential impact on financial markets and policymaking.

The forthcoming release of the Advance GDP q/q is scheduled for Thursday, October 26, 2023, at 1:30 PM GMT+1.


USD – Unemployment Claims​

Although typically considered a lagging indicator, the unemployment rate is a critical metric for evaluating the overall economic health, as it strongly influences consumer spending. Moreover, unemployment is of great significance to policymakers responsible for formulating the nation's monetary strategy.

In the week ending October 14, the US saw a decrease in seasonally adjusted initial claims by 13,000 to 198,000, with a 4-week moving average of 205,750. The insured unemployment rate remained unchanged at 1.2%, with an increase of 29,000 in seasonally adjusted insured unemployment to 1,734,000, and a 4-week moving average of 1,694,000.

The forecast for the US Unemployment Claims is yet to be determined. Once available, the post will be updated accordingly.

The upcoming release of Unemployment claims is scheduled for Thursday, October 26, 2023, at 1:30 PM GMT+1.

Last time, the Advance GDP q/q and Unemployment claims for USD were announced on the 27th of July, 2023. You may find the market reaction graph (USDCAD M1) below:

8 - ADVANCE GDP qq UNEMPLOYEMNT CLAIMS USDCAD.jpg

EUR - ECB Press Conference​

This communication channel holds substantial significance as it represents the ECB's primary means of conveying its monetary policy stance to investors. It provides a comprehensive analysis of the factors influencing recent interest rate and policy decisions, including aspects such as the broader economic outlook and inflation. Most notably, it imparts valuable insights into the ECB's prospective monetary policy actions.

The ECB Press Conference is scheduled for Thursday, October 26, 2023, at 1:45 PM GMT+1.
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27 October 2023​

Friday​

On Friday, October 27, 2023, the US is scheduled to release the Core PCE Price Index m/m and the Revised UoM Consumer Sentiment. Additionally, there is a provisional plan to release the Treasury Currency Report on the same day.​


USD - Core PCE Price Index m/m​

This release is of considerable interest as it functions as the Federal Reserve's primary measure of inflation. Currency valuation is closely tied to inflation since rising prices necessitate central bank adjustments to interest rates, aligning with their mandate to manage inflation.

In August 2023, prices in the US increased by 0.1%, falling short of the expected 0.2% rise. The annual inflation rate, closely monitored by the Federal Reserve, decreased to 3.9%, reaching its lowest level since September 2021. When food and energy costs were included, prices rose by 0.4% compared to the previous month and by 3.5% compared to the same period in the previous year.

TL;DR

Post Table 13.png

The forecast for Core PCE Price Index m/m reveals an upward trend, with indications pointing to a 0.3% increase in figures.

The upcoming release of the Core PCE Price Index m/m is scheduled for Friday, October 27, 2023, at 1:30 PM GMT+1.

Last time, the Core PCE Price Index m/m for USD were announced on the 29th of September, 2023. You may find the market reaction graph (EURUSD M1) below:

9 - EURUSD Core PCE Price Index USD.jpg

USD - Revised UoM Consumer Sentiment​

The engagement stems from financial confidence acting as a forward-looking indicator for consumer spending, which constitutes the majority of overall economic activity.

In October 2023, the University of Michigan's Consumer Sentiment Index for the US dropped to 63 from September's 68.1, marking a five-month low and missing market expectations. Current economic conditions and future expectations also declined to five-month lows. Inflation expectations rose to 3.8%, the highest since May 2023. Despite concerns over inflation, long-term business conditions remained relatively stable, suggesting that consumers expect current economic challenges to be temporary. This data reflects growing consumer unease and is closely watched for its potential impact on the broader economy.

TL;DR

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Anticipated data for the Revised University of Michigan Consumer Sentiment is pointing to a figure of 63. This forecast provides insights into the prevailing sentiment among consumers and is closely monitored for its potential implications on economic trends and consumer behavior.

The forthcoming release of the Revised UoM Consumer Sentiment is planned for Friday, October 27, 2023, at 3:00 PM GMT+1.


***Breaking News Update***


Putin Visits Southern Military District​

Russian President Vladimir Putin visited the headquarters of Russia's Southern Military District near the Ukraine border following talks with China's Xi Jinping. He was briefed on the Ukraine situation by Chief of the General Staff Valery Gerasimov. Russian forces are said to be executing their operation plan. The visit occurred amidst reports of Ukrainian forces crossing the Dnipro River into Russian-occupied territory. Putin had discussed the Ukraine conflict in detail with Xi during their meeting and announced the deployment of MiG-31 fighter jets with Kinzhal hypersonic missiles for Black Sea patrols. This visit followed his discussions on sports development in the Perm region.

The Kinzhal hypersonic missiles have a target range of 1000 km.







Disclaimer: The market news provided herein is for informational purposes only and should not be considered as trading advice.