As traders approach another crucial day for financial markets, a series of crucial economic data releases are expected on Friday, October 25, 2024 that could influence market dynamics. The focus will be on Durable Goods Orders and the University of Michigan Consumer Confidence Index, both of which are key indicators of economic health and consumer confidence in the United States.
Main economic events to follow
• 08:30 hours (CET) – Durable goods orders (September): forecast -1.1%, previous 0.0%. Measures the change in the total value of new orders for durable manufactured goods.
Other important economic events to watch
• 08:30 hours (CET): basic orders for durable goods (September): forecast -0.1%, previous 0.5%. Measurements change in the value of new orders, excluding shipping items.
• 10:00 am (CET) Michigan Consumer Expectations (October): Forecast 72.9, Previous 72.9. Final reading of the consumer expectations component.
• 10:00 am (CET) Michigan Consumer Sentiment (October): forecast 68.9, previous 70.1. Final reading of the general consumer sentiment index.
• 10:30 a.m. (CET): Atlanta Fed current GDP (third quarter): forecast 3.4%, previous 3.4%. Updated estimate of real GDP growth for the current quarter.
• 1:00 PM ET: Baker Hughes US rig count: forecast 482, previous 482. Important barometer for oil drilling industry activity.
• 1:00 PM ET: Total Baker Hughes U.S. rig count: Previous 585. Indicates overall drilling activity in the oil and gas sectors.
• 3:30 PM (CET) – CFTC S&P 500 speculative positions: previous 28.1K. Indicates market sentiment among speculative traders.
• 3:30 PM (CET) – CFTC speculative positions: 1.4K previous. It shows speculative positioning in futures on technological indices.
• 15:30 (CET), CFTC speculative gold positions: previous 286.4K. It reflects speculative interest in .
• 15:30 (CET) – CFTC speculative positions: previous 184.4K. Indicates speculative sentiment in oil markets.
Other economic events to follow
• 6:00 am (CET) – IMF meetings: annual meeting of world financial leaders to discuss economic issues.
• 8:30 a.m. ET: Orders for non-defense goods, except air: 0.3% previous. Measures new orders for non-defense capital goods, excluding aircraft.
• 8:30 am (CET) – Durable goods excluding defense: previous -0.2%. Shows new orders for durable goods, excluding defense-related items.
• 10:00 a.m. (CET): Michigan 1-year inflation expectations: forecast 2.9%, previous 2.7%. Measures consumer inflation expectations for next year.
• 10:00 a.m. ET: Current Michigan conditions: Forecast 62.7, Previous 63.3. Evaluate consumer opinions on current economic conditions.
• 10:00 a.m. (CET): Michigan 5-year inflation expectations: forecast 3.0%, previous 3.1%. Long-term consumer inflation expectations.
• 11:00 am (CET), Federal Reserve's Collins speaks: Federal Reserve official's remarks can provide insight into monetary policy.
• 3:30 pm ET: Various reports of CFTC speculative positions for commodities, including aluminum, silver, natural gas, wheat, corn and soybeans.
For more information and the latest updates, see our Economic Calendar, here.
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