Welcome back! Here are the most important economic events from December 9th to 12th, including a major update on the Federal Reserve’s interest rate decision.
* Tuesday – Dec 9
Australia starts the week with the RBA Cash Rate holding steady at 3.60%, followed by the Rate Statement and Press Conference — setting the tone for AUD volatility.
Japan’s BOJ Governor Ueda speaks, while in the US, the ADP Employment Report forecasts a decline of –13.5K, and JOLTS Job Openings drop to 7.14M, confirming a cooling labor market.
* Wednesday – Dec 10
China releases CPI at 0.7% and PPI at –2.0%, highlighting slow inflation recovery.
In Europe, ECB President Christine Lagarde speaks.
Canada’s Bank of Canada holds interest rates at 2.50%, followed by a press conference providing insights into its policy direction.
* Thursday – Dec 11 – THE BIG FED DAY
This is the most anticipated moment of the week.
** FED Interest Rate Decision – Key Update
At 2:00 AM, the Federal Reserve announces its Federal Funds Rate, expected to stay at 3.75%.
With inflation cooling and labor markets softening, markets are speculating on possible rate cuts in 2024.
After the decision, we get the full package:
FOMC Economic Projections
FOMC Statement
And the most influential part — Jerome Powell’s Press Conference at 2:30 AM
Expect major volatility across USD, gold, equities, bonds, and crypto depending on Powell’s tone.
Also on Thursday:
Australia releases Employment Change and Unemployment Rate.
The UK’s BOE Governor Bailey speaks.
And the US reports Unemployment Claims, expected at 221K.
* Friday – Dec 12
The UK posts its GDP m/m, forecast at 0.1%, giving investors a clearer view of Britain’s economic momentum.
And that wraps up this week’s economic calendar, highlighted by the critical Federal Reserve rate decision.
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