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5 things to know before the World Market opens 19 October 2022

by AgaBullion
5 things to know before the World Market opens 19 October 2022

1) Fed Kashkari Speech – United States

In the United States, the authority to set interest rates is divided between the Board of Governors of the Federal Reserve (Board) and the Federal Open Market Committee (FOMC). The Board decides on changes in discount rates after recommendations submitted by one or more of the regional Federal Reserve Banks. The FOMC decides on open market operations, including the desired levels of central bank money or the desired federal funds market rate.

2)  Westpac Leading Index MoM (SEP) - Australia

The Westpac-Melbourne Institute Leading Index of Economic Activity combines a selection of economic variables that typically lead fluctuations in economic activity into a single measure that provides a reliable cyclical indicator for the Australian economy. The index includes the following components: S&P/ASX 200, dwelling approvals, US industrial production, RBA Commodity Prices Index (A$), aggregate monthly hours worked, Westpac-MI CSI expectations index, Westpac-MI Unemployment expectations index, yield spread (10Y bond – 90D bill). The index has a base value of 100 as of 1996.

3) Core Inflation Rate YoY (SEP) – United Kingdom

In the United Kingdom, the core inflation rate tracks changes in prices that consumers pay for a basket of goods which excludes some volatile price items.

4) Inflation Rate MoM (SEP) – South Africa

Inflation Rate MoM measures month over month change in the price of goods and services.

5)  Core Inflation Rate YoY Final (SEP) – Euro Area

In Euro Area, the core inflation rate is calculated using the weighted average of the Harmonised Index of Consumer Price (HICP) aggregates, excluding energy, food, alcohol & tobacco that face volatile price movements.

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