As traders approach another pivotal day for financial markets on Wednesday, October 16, 2024, a series of crucial economic data releases that could sway market dynamics are expected. The focus will be on import and export price indices, which offer insights into inflationary pressures and trade dynamics. Additionally, the API Weekly Crude Stock report will provide valuable information on oil inventory levels, potentially impacting energy markets.
Major Economic Events to Watch
• 8:30 AM ET – Export Price Index (MoM) (Sep): Expected -0.4%, Previous -0.7%. Tracks price changes of U.S. export goods, indicating export competitiveness.
• 8:30 AM ET – Import Price Index (MoM) (Sep): Expected -0.3%, Previous -0.3%. Measures changes in prices of imported goods, reflecting inflationary pressures.
• 4:30 PM ET – API Weekly Crude Stock: Previous 10.900M. Reports oil inventory levels, influencing oil price movements.
Other Important Economic Events to Watch
• 7:00 AM ET – MBA 30-Year Mortgage Rate: Previous 6.36%. Indicates average fixed 30-year mortgage lending rates.
• 7:00 AM ET – MBA Mortgage Applications: Previous -5.1%. Measures changes in new mortgage application volumes.
• 7:00 AM ET – MBA Purchase Index: Previous 149.2. Tracks applications for mortgages to purchase homes.
• 7:00 AM ET – Mortgage Market Index: Previous 277.5. Covers all mortgage applications during the week.
• 7:00 AM ET – Mortgage Refinance Index: Previous 997.3. Gauges overall mortgage refinancing activity.
Other Economic Events to Watch
• 8:30 AM ET – Export Price Index (YoY): Previous -0.7%. Annual change in export prices, indicating longer-term trends.
• 8:30 AM ET – Import Price Index (YoY): Previous 0.8%. Year-over-year change in import prices, reflecting inflation trends.
For further information and the latest updates, please refer to our Economic Calendar, here.
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