Key dates in the economic calendar

Key dates in the economic calendar: October 2022

Anna Meehan
Anna Meehan 03 October 2022

For better or for worse, major political and economic events will affect currency and the movement of exchange rates. Recent events ranging from stand-alone incidents such as the mini-budget and the poor performance of the pound to long-standing troubles due to Brexit and Covid cause rates to become volatile and currency to fluctuate. These fluctuations can cut into a business’ profit with unfavourable exchange rates leading to losses. 

You can’t control what happens in the market - but you can control how you manage volatility and take care of your company. One of the things you can do is look ahead to key dates in the economic calendar to try to predict changes.  

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Economic calendar 

Equals Money economic calendar October

These are the major dates to look out for during the month of October 2022 that might affect any international payments:

3/10/22 - ISM Manufacturing PMI (USD) 

4/10/22 -  JOLTS Job Openings (USD) 

5/10/22 - OPEC Meetings (All) 

5/10/22 - ISM Services PMI (USD) 

7/10/22 - Non-farm Employment Change (USD) 

12/10/22 - GDP m/m (GBP) 

12/10/22- PPI m/m (USD) 

13/10/22 - CPI m/m (USD) 

13/10/22 - Core CPI m/m (USD) 

19/10/22 -CPI y/y (GBP) 

19/10/22 - Final CPI y/y (EUR) 

20/10/22 - Flash services/Manufacturing PMIs (GBP & EUR) 

24/10/22 - Flash services/Manufacturing PMIs (USD) 

27/10/22 - Monetary Policy Statement (EUR) 

27/10/22 - ECB Press Conference (EUR) 

28/10/22 - Core Price Index m/m (USD) 

What do these dates mean?

Any key dates in the economic calendar can affect the market, for better or for worse. These effects will all be different, and it’s impossible to predict how exactly foreign exchange will react. However, what’s for certain is that any kind of major political or economic events, regardless of outcome, can have knock on effects on currency and lead to rate volatility. An example of this is the mini-budget: the pound dived to the lowest it’s been in decades following Chancellor Kwasi Kwarteng’s mini-budget from Friday the 23rd of September. 

The change of exchange rate between a common currency pair within a short period of time, such as movements between the pound and the dollar, is what’s known as rate volatility.

You can read more about rate volatility and how these changes can affect your business here.

Volatile currency and your business 

With the cost of living as high as it is currently, a business’ bottom line is more important than ever. If you’re a UK-based business, you might not think that the foreign exchange market has a particular impact on your finances. However, even if you don’t export your products, if you operate within a globally competitive industry, changes in exchange rates can still affect operating profits. Additionally, a number of products you use might be priced in another currency - for example, many digital services are priced in dollars.  

You can read more about how the rising cost of living is affecting your business here. 

Hedging solutions and how we can help

At Equals Money, we offer a number of tools to help your business manage challenges around currency fluctuations associated with major world events. Not only do you get a dedicated account manager who will monitor the markets for you and alert you to any movement in your chosen currency pairings, but you’ll also have a range of hedging options at your disposal to combat an unstable market.

For instance, a method of hedging we offer is what’s called a forward contract. Simply put, a forward contract allows your business to fix an exchange rate for a future overseas payment. You can lock in an exchange rate for typically up to 12 months, and the fixed rate is protected from any future currency movements in the market. This means you know exactly the exchange rate you’re getting for a set time, which helps you predict cash flow and forward planning and budgeting.

You can read more about forward contracts here.

The current political and economic climate is unstable, and it’s difficult to stay on top of your business finances when you can’t predict what’s going to happen. 

By looking ahead to key dates and letting Equals Money help you manage the risk associated with foreign trade, you can worry less about what’s happening in the outside world and instead focus in on your business.

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