On October 22, 2024, there are several economic data releases to keep an eye on. Let’s take a closer look at the forecasts and actual figures for some key events.
Starting with New Zealand, the Trade Balance for September came in at -2203M NZD. This figure was below the forecast, indicating a wider trade deficit than expected. It will be interesting to see how this data impacts the New Zealand dollar in the forex market.
Moving on to the United Kingdom, the Public Sector Net Borrowing for September was reported at 10.3 billion GBP. This was lower than the previous figure of 13.7 billion GBP. A decrease in borrowing could be a positive sign for the UK economy and might offer support to the British pound.
In Canada, the Industrial Product Price for September showed a decrease of 0.80% month-on-month. This was below expectations and could potentially weigh on the Canadian dollar. Additionally, the Raw Material Price Index for the same period declined by 3.10%. This drop in prices could have implications for inflation and overall economic activity in Canada.
As investors and traders digest this economic data, we may see some movements in the respective currency pairs. It’s important to keep an eye on these developments and consider how they could impact your trading strategies. Stay tuned for more updates as the market reacts to the latest economic releases.