As traders approach another pivotal day for financial markets, Thursday, September 12, 2024, brings a series of crucial economic data releases that could sway market dynamics. The Producer Price Index (PPI) and Initial Jobless Claims stand out as key indicators, potentially offering insights into inflationary pressures and the state of the labor market.
Major Economic Events to Watch
• 8:30 AM ET - PPI (Aug): Expected 0.1%, Previous 0.1%. Measures change in price of goods sold by manufacturers, a leading indicator of consumer inflation.
• 8:30 AM ET - Initial Jobless Claims: Forecast 227K, Previous 227K. Indicates the number of individuals who filed for unemployment insurance for the first time during the past week.
Other Important Economic Events to Watch
• 3:00 AM ET - IEA Monthly Report: Provides analysis of key developments impacting oil market trends in world oil demand and supply.
• 8:30 AM ET - Core PPI (Aug): Expected 0.2%, Previous 0.0%. Measures change in selling price of goods and services sold by producers, excluding food and energy.
• 8:30 AM ET - Continuing Jobless Claims: Forecast 1,850K, Previous 1,838K. Measures number of unemployed individuals qualifying for unemployment insurance benefits.
• 12:00 PM ET - WASDE Report: Provides USDA forecasts of U.S. and world supply-use balances of major grains, soybeans, cotton, and livestock products.
• 1:00 PM ET - 30-Year Bond Auction: Previous yield 4.314%. Indicates investor demand for long-term U.S. government debt.
• 2:00 PM ET - Federal Budget Balance (Aug): Expected -$285.7B, Previous -$244.0B. Measures difference between federal government's income and expenditure.
• 4:30 PM ET - Fed's Balance Sheet: Previous $7,113B. Statement listing assets and liabilities of the Federal Reserve System.
• 4:30 PM ET - Reserve balances with Federal Reserve Banks: Previous $3.265T. Amount of money depository institutions maintain in accounts at regional Federal Reserve Banks.
Other Economic Events to Watch
• 8:30 AM ET - Core PPI (YoY): Expected 2.5%, Previous 2.4%. Year-over-year change in Core Producer Price Index.
• 8:30 AM ET - PPI (YoY): Forecast 1.8%, Previous 2.2%. Year-over-year change in Producer Price Index.
• 8:30 AM ET - PPI ex. Food/Energy/Trade (MoM): Previous 0.3%. Monthly change in PPI excluding food, energy, and trade.
• 8:30 AM ET - PPI ex. Food/Energy/Trade (YoY): Previous 3.3%. Year-over-year change in PPI excluding food, energy, and trade.
• 8:30 AM ET - Jobless Claims 4-Week Avg.: Previous 230.00K. Four-week moving average of initial jobless claims.
• 10:30 AM ET - Natural Gas Storage: Expected 48B, Previous 13B. Measures change in number of cubic feet of natural gas held in underground storage.
• 11:00 AM ET - Thomson Reuters (NYSE:TRI) IPSOS PCSI: Previous 55.27. Composite index measuring consumer sentiment across various economic factors.
• 11:30 AM ET - 4-Week Bill Auction: Previous yield 5.080%. Indicates short-term borrowing costs for the U.S. government.
• 11:30 AM ET - 8-Week Bill Auction: Previous yield 5.040%. Reflects investor demand for short-term U.S. government debt.
For further information and the latest updates, please refer to our Economic Calendar, here https://www.investing.com/economic-calendar/
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