When it comes to navigating the world of foreign exchange and international payments, knowledge is your best ally. That's why we've compiled a guide to the key dates and financial events in December 2024 to be aware of when making cross-border payments.
Whether you're a seasoned trader or just dipping your toes into the financial waters, understanding these economic indicators can make a significant impact, and allow you to make informed financial decisions.
Read on to stay informed and discover how we can empower your international financial transactions, or visit our Economic Calendar for December.
The first week of the month can only mean one thing - US jobs week.
The JOLTS job openings, expected on Tuesday, are likely to have held steady in October, following September’s downside surprise.
Friday's job report is expected to show an addition of 200,000 jobs - a rebound from the 12,000 jobs added in October, and the unemployment rate is expected to tick higher. This will be the last job number ahead of the Federal Reserve (Fed) meeting on December 18th, where we could see the Fed elect to skip on any rate move.
A Big week of central bank action is expected this week, with interest rate decisions from Australia, Canada, Switzerland, and Europe.
Markets are expecting no rate change by the Reserve Bank of Australia (RBA), either a 25bps or 50bps rate cut by the Bank of Canada (BoC) and the European Central Bank (ECB), and a 60% chance of 50bps cut by the Swiss National Bank.
These rate outlooks will be key in light of the threat of trade tariffs from President-elect Donald Trump.
With the release of job and inflation numbers, as well as the Bank of England’s (BoE) interest rate decision, this week will be key for GBP.
Currently, markets are assigning a 10% chance the BoE will cut by 25bps following the announcements in the recent Budget, which has been regarded as inflationary. Thus, a surprise cut would likely cause broad GBP weakness.
Also this week, we'll find out if the Fed will elect to pause cutting rates in light of Donald Trump being elected as US President, his inflationary policies, and what this re-election means for the Fed’s future rate policy. Overall, the US dollar has performed well this quarter in light of markets pricing in less rate cuts for next year and anything to support this will likely see the greenback continue its gains.
No major highlights in light of Christmas holidays.
No major highlights in light of Christmas holidays.
Now that you're aware of the key economic events taking place in 2024, let's talk about how Equals Money can elevate your international payments experience. Our service is designed to make your life easier and transactions smoother.
In conclusion, staying informed about key economic calendar indicators, events, and dates is vital for making informed financial decisions. Whether you're monitoring GBP, EUR, or USD, these dates can significantly impact your currency exchange rates.
For the dates, events, and economic indicators that matter most to businesses, investors, and economic enthusiasts. Our Economic Calendar offers comprehensive insights into the meaningful indicators influencing market movements and FX rates across the UK, US, and EU.
*Equals Money can only offer forward contracts to facilitate payments for goods and services.
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