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5 things to know before the World Market opens 28th September2022

by AgaBullion
5 things to know before the World Market opens 28th September2022

1) Fed Daly Speech- United States

In 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) Retails Sales MoM Prel (AUG)- Australia

In Australia, the Retail sales report provides an aggregated measure of sales of retail goods and services over a specific time period. In Australia, Retail sales are seasonal, volatile and relatively important to the overall economy.

3) Leading Economic Index Final ( JUL) - Japan

In Japan, the Leading Composite Index consists of 12 indexes such as account inventory ratios, machinery orders, stock prices and other leading economic indicators. The index anticipates changes in the direction of the Japanese economy in the coming months. In general, increase in the index reflects that the economy is in an expansion phase, and decreasing coincident index reflects that the economy is in a contraction phase. The index is used to make official judgement on when the business cycle begins and ends.

4) Marketing Policy Meeting Minutes - India

In India, interest rate decisions are taken by the Reserve Bank of India's Central Board of Directors. The official interest rate is the benchmark repurchase rate. In 2014, the primary objective of the RBI monetary policy became price stability, giving less importance to government's borrowing, the stability of the rupee exchange rate and the need to protect exports. In February 2015, the government and the central bank agreed to set a consumer inflation target of 4 percent, with a band of plus or minus 2 percentage points, from the financial year ending in March 2017.

5)Unemployment Rate (AUG) - Russia

In Russia, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

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