As traders approach another pivotal day for financial markets, a series of crucial decisions and economic data releases that could sway market dynamics are expected on Thursday, November 14, 2024. The Producer Price Index (PPI), initial jobless claims, and EIA crude oil inventories are among the key economic indicators set to be released, while Federal Reserve Chair Jerome Powell is scheduled to speak later in the day.
Major Economic Events to Watch:
• 8:30 AM ET – PPI (Oct): Forecast 0.2%, Previous 0.0%. A key measure of inflation at the producer level.
• 8:30 AM ET – Initial Jobless Claims: Forecast 224K, Previous 221K. An early indicator of employment trends.
• 11:00 AM ET – EIA Crude Oil Inventories: Forecast 1.000M, Previous 2.149M. Influences crude oil prices and inflation.
• 3:00 PM ET – Fed Chair Powell Speaks: May provide insights into future monetary policy decisions.
Other Important Economic Events to Watch:
• 5:00 AM ET – IEA Monthly Report: Provides analysis and outlook for the global oil market.
• 8:30 AM ET – Core PPI (Oct): Forecast 0.3%, Previous 0.2%. Measures price changes excluding food and energy.
• 8:30 AM ET – Continuing Jobless Claims: Forecast 1,880K, Previous 1,892K. Indicates ongoing unemployment levels.
• 11:00 AM ET – EIA Weekly Cushing Oil Inventories: Previous 0.522M. Important for U.S. crude oil benchmark pricing.
• 4:15 PM ET – FOMC Member Williams Speaks: May offer additional perspective on monetary policy.
• 4:30 PM ET – Fed’s Balance Sheet: Previous 6,994B. Provides insight into the Fed’s monetary operations.
• 4:30 PM ET – Reserve balances with Federal Reserve Banks: Previous 3.256T. Indicates liquidity in the banking system.
Other Economic Events to Watch:
• 7:00 AM ET – FOMC Member Kugler Speaks: May discuss economic outlook and monetary policy.
• 8:30 AM ET – Various PPI data points: Including year-over-year figures and excluding food/energy/trade.
• 8:30 AM ET – Jobless Claims 4-Week Avg.: Previous 227.25K. Smooths weekly jobless claims data.
• 9:00 AM ET – FOMC Member Barkin Speaks: May provide regional economic insights.
• 10:30 AM ET – Natural Gas Storage: Previous 69B. Impacts natural gas prices.
• 11:00 AM ET – Various EIA energy data: Including gasoline production, distillate fuel production, and inventories.
• 11:30 AM ET – 4-Week and 8-Week Bill Auctions: Previous rates 4.515% and 4.490% respectively. Indicates short-term borrowing costs for the government.
For further information and the latest updates, please refer to our Economic Calendar, here.
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