2022-11-17 14:01:14
Timing is everything: When will the market shake again?
The stock and crypto markets have been relatively stable since the beginning of the week, so when will we see a significant move again?
Probably today, starting from 1:30pm GMT.
US Building Permits: 1:30pm GMT
Building Permits report measures the change in the number of new building permits issued by the US government.
Building permits are a key indicator of demand in the housing market and give a major hint as to the state of the economy in the near future.
It is very important to know that the number of new permits is not as important as the difference between the actual results of the report and the forecasts.
If the results (the total number of new permits) will be higher than the forecast, the dollar will strengthen against the other major currencies while a lower number compared to the forecast will take the USD down Vs the other majors.
Forecast: 1.512M new building permits
U.S. Initial Jobless Claims: 1:30pm GMT
Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week.
Initial claims typically rise before the economy enters a recession and decline before the economy starts to recover, making them useful as a leading indicator.
First-time claims numbers can be volatile, subject to distortions for a variety of reasons including holidays and weather.
If the result shows more requests for unemployment insurance funds than expected it'll be bad news for the USD and the US economy.
Forecast: 225,000 Initial Jobless Claims.
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