NEWS AND CALENDAR 21-11-2017

21.11.2017 GMT+1 

TIME CURRENCY IMPORTANCE EVENT ACTUAL FORECAST PREVIOUS
11:00 GBP HIGH Inflation Report Hearings
12:00 GBP Medium CBI Industrial Trends Orders (Nov) 3 -2
16:00 USD Medium Existing Home sales (MoM)(Oct) 0.7% 0.7%
16:00 USD HIGH Existing Home Sales (Oct) 5.42M 5.39M
22:35 USD Medium API Weekly Crude Oils Stoc 3.531M

  

EXPLANATION OF THE ECONOMIC NEWS

 

  1. The Bank of England Governor and several Monetary Policy Committee members testify on the inflation and economic outlooks before Parliament’s Treasury Committee.

 

  1. The Confederation of British Industry (CBI) Industrial Trends Orders measures the economic expectations of the manufacturing executives in the U.K. It is a leading indicator of business conditions. A level above zero indicates order volume is expected to increase; a level below zero indicates expectations are for lower volumes. The reading is compiled from a survey of about 550 manufacturers. A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.

 

  1. Existing Home Sales measures the change in the number of existing (not new) residential buildings that were sold during the previous month. This report helps to gauge the strength of the U.S. housing market and is a key indicator of overall economic strength. A higher than expected number should be taken as positive to the USD, while a lower than expected number as negative

 

  1. Existing Home Sales measures the change in the annualized number of existing residential buildings that were sold during the previous month. This report helps to gauge the strength of the U.S. housing market and is a key indicator of overall economic strength. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

 

  1. The American Petroleum Institute reports inventory levels of US crude oil, gasoline and distillates stocks. The figure shows how much oil and product is available in storage.The indicator gives an overview of US petroleum demand. If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices. The same can be said if a decline in inventories is less than expected. If the increase in crude is less than expected, it implies greater demand and is bullish for crude prices. The same can be said if a decline in inventories is more than expected.