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Watch out for the top economic events due next week – Dec 4th, 2022 – Dec 10th, 2022

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Watch out for the top economic events due next week - Dec 4th, 2022 – Dec 10th, 2022 - forexspacex.com

Trading the economic events should be a part of a trader’s strategy as trading a planned event yields a better return on investment than the FOMO-based entries. In this article we are listing down the top economic events due next week, one must consider before taking a new position.

DateEconomic EventImpact on Currency Pair
MONDAY, DECEMBER 5Retail Sales Data from Eurostat
Eurostat will be reporting the monthly measure of the value of goods sold by retailers of different types and volumes in the eurozone. This provides insight into the retail sector based on the total receipts of vendors. A higher reading than the previous month is generally considered as bullish for the domestic currency and a low reading is bearish.  
EUR/USD, EUR/GBP
MONDAY, DECEMBER 5ISM Services PMI(Nov)
Institute for Supply Management will be reporting the services purchasing manager’s index data.  
USD, USD/JPY
TUESDAY, DECEMBER 6Interest rate hike decision from the reserve bank of Australia
The Reserve Bank of Australia has already hiked its benchmark rate by 2.75% since May and is expected to go for another 25-basis point next week.  
AUD/USD
WEDNESDAY, DECEMBER 7Gross Domestic Product Data from the Australian Bureau of Statistics
The GDP of the Australian economy is expected to grow by 0.7% in the third quarter, which is lower than the previous quarter.  
AUD/USD
WEDNESDAY, DECEMBER 7Gross Domestic Product from Eurostat
Eurostat will it be reporting the GDP data which is the combined monetary value of final goods and services produced and served in the eurozone. It is expected to remain flat which is 0.2% due to the ongoing war between Russia and Ukraine.  
EUR/USD, EUR/JPY, EUR/GBP  
WEDNESDAY, DECEMBER 7Interest Rate Decision from the Bank of Canada
Bank of Canada will be revising its benchmark rate for the last time this year to control the inflationary pressure in the country. According to financial analysts, the Bank of Canada is expected to hike its interest rate by 50 basis points. that means the net effective rate will be 4.25% from 7th December.
USD/CAD
WEDNESDAY, DECEMBER 7Gross Domestic Product data from the Japanese Cabinet Office
The Japanese economy is expected to contract by –0.3% for the third quarter amid the ongoing coronavirus situation. the strict lockdowns imposed by the authority had a severe impact on its service and manufacturing sectors.  
USD/JPY, EUR/JPY
WEDNESDAY, DECEMBER 7Exports and Import data from the National Bureau of Statistics of China
Export and import data which is also known as the trade data from the world’s second-largest economy will provide insight into the total transactions of goods and services in the region  
USD/CNY, EUR/CNY  
THURSDAY, DECEMBER 8Trade Balance data from the Australian Bureau of Statistics
The export and import data provide the overall health of the Australian economy which is a commodity-rich by nature.   
AUD/USD
FRIDAY, DECEMBER 9Consumer Price Index data from the National Bureau of Statistics of China
The CPI data uses a comprehensive measure for the estimation of price changes in a basket of goods and services representative of consumption expenditure in the domestic economy.
USD/CNY,   EUR/CNY    
FRIDAY, DECEMBER 9Michigan Consumer Sentiment Index from the University of Michigan
This index provides insight into consumer spending and the health of the world’s largest economy. A higher reading than the previous month is generally considered as bullish for the domestic currency and a low reading is bearish.  
USD, USD/JPY  

Disclaimer

Forex trading can be extremely risky and should only be done in the presence of an expert. We do not recommend any currency pairs or options to buy or sell to our readers. Forecasts or articles available on this website do not constitute investment advice and are only for general information. Kindly consult with a professional financial advisor before using the information on this website for trading or investing.

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