CPI data, federal budget balance among key events due Wednesday

As traders approach another pivotal day for financial markets, Wednesday, November 13, 2024, is set to deliver a series of crucial economic data releases that could sway market dynamics. The Consumer Price Index (CPI) figures, Core CPI data, and the Federal Budget Balance are among the key reports expected to provide insights into inflation trends and government fiscal health.

Major Economic Events to Watch

• 8:30 AM ET - CPI (Oct): Expected 2.6%, Previous 2.4%. Measures change in consumer goods and services prices.

• 8:30 AM ET - CPI (Oct): Forecast 0.2%, Previous 0.2%. Month-over-month change in consumer prices.

• 8:30 AM ET - Core CPI (Oct): Anticipated 0.3%, Previous 0.3%. Excludes volatile food and energy prices.

Other Important Economic Events to Watch

• 8:30 AM ET - Core CPI (Oct): Expected 3.3%, Previous 3.3%. Year-over-year core inflation rate.

• 8:30 AM ET - FOMC Member Kashkari Speaks: May provide clues on future monetary policy.

• 9:30 AM ET - FOMC Member Williams Speaks: Potential insights into Fed's economic outlook.

• 12:00 PM ET - EIA Short-Term Energy Outlook: Provides forecasts for energy markets.

• 2:00 PM ET - Federal Budget Balance (Oct): Forecast -$226.4B, Previous $64.0B. Measures government fiscal position.

• 4:30 PM ET - API Weekly Crude Stock: Previous 3.132M. Indicates US petroleum demand.

Other Economic Events to Watch

• 7:00 AM ET - MBA 30-Year Mortgage Rate: Previous 6.81%. Fixed mortgage lending rates.

• 7:00 AM ET - MBA Mortgage Applications: Previous -10.8%. Change in new mortgage application volume.

• 7:00 AM ET - MBA Purchase Index: Previous 130.8. Indicator of impending home sales.

• 7:00 AM ET - Mortgage Market Index: Previous 191.4. Covers all mortgage applications.

• 7:00 AM ET - Mortgage Refinance Index: Previous 513.5. Gauge of mortgage refinancing activity.

• 8:30 AM ET - CPI Index, n.s.a. (Oct): Expected 315.59, Previous 315.30. Non-seasonally adjusted price index.

• 8:30 AM ET - CPI Index, s.a (Oct): Previous 314.69. Seasonally adjusted price index.

• 8:30 AM ET - Real Earnings (Oct): Previous -0.1%. Measures changes in purchasing power.

• 8:30 AM ET - Core CPI Index (Oct): Previous 320.77. Price index excluding food and energy.

• 8:30 AM ET - CPI, n.s.a (Oct): Previous 0.16%. Non-seasonally adjusted monthly inflation.

• 8:55 AM ET - Redbook: Previous 6.0%. Measures same-store sales growth in large US retailers.

• 9:35 AM ET - Fed Logan Speaks: Dallas Fed President may discuss economic outlook.

• 11:00 AM ET - Cleveland CPI (Oct): Previous 0.3%. Regional inflation measure.

• 11:00 AM ET - Thomson Reuters (NYSE:TRI ) IPSOS PCSI: Previous 55.63. Consumer sentiment index.

• 1:30 PM ET - Fed Schmid Speaks: Kansas City Fed President may offer economic insights.

For further information and the latest updates, please refer to our Economic Calendar, here.

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Source: Investing.com