The week ahead – A particularly busy economic calendar to occupy the markets
On the macro
It’s a particularly busy week on the economic calendar, with 76 stats featured in the week ending 3rd September. During the previous week, 49 statistics had also been finalized.
For the dollar:
During the first half of the week, consumer sentiment, ADP nonfarm employment and ISM manufacturing PMI figures are the center of attention.
Expect consumer sentiment and ADP numbers to be key.
In the 2sd halfway through the week, the focus will be on jobless claims figures on Thursday.
However, the conclusion will be the non-farm payroll and non-manufacturing ISM PMIs for August. A new wave of hires and this could be the green light for the FED to take a step.
In the week ending 3rd In September, the Dollar Spot Index fell 0.87% to 92.686.
For the euro:
It’s a particularly busy week on the economic data front.
Tuesday, French consumer spending and 2sd GDP figures for the quarter are expected along with German unemployment data.
Expect the GDP and unemployment numbers to have a bigger influence.
German retail sales and Spanish and Italian manufacturing PMIs are expected to come out on Wednesday. However, the final figures for France, Germany and the eurozone will also attract attention.
Barring sharp revisions to the preliminary figures, Italy and Eurozone PMIs and German retail sales will be key.
At the end of the week, the PMIs in the services sector will also be in the spotlight.
On the week, the euro rose 0.83% to $ 1.1795.
For the pound:
It’s a quiet week ahead on the economic calendar.
The finalized private sector PMIs for August are expected on Wednesday and Friday.
Expect any review of the services PMI to be key.
The pound ended the week up 1.04% to $ 1.3764.
For the loonie:
It’s a busier week on the economic calendar.
2sd GDP figures for the quarter will be key on Tuesday. On Thursday, trade data will also influence, however.
The loonie ended the week up 1.57% to C $ 1.2620 against the US dollar.
Outside of Asia
For the Australian dollar:
Business gross operating profits and credit to the private sector will be the focus at the start of the week.
GDP figures on Wednesday and trade data on Thursday, however, will be the key statistics for the week.
The Australian dollar ended the week up 2.52% to $ 0.7312.
For the Kiwi-dollar:
It’s a quiet week ahead.
Building permits and business confidence figures are expected on Tuesday.
Expect business confidence numbers for August to be key.
Besides, private sector PMIs from China and COVID-19 news updates will also have an influence.
The Kiwi Dollar ended the week up 2.57% to $ 0.7011.
For the Japanese yen:
July’s retail sales figures get the ball rolling on Monday.
On Tuesday, the industrial production figures for July will also generate a lot of interest.
During the rest of the week, private sector capital spending and finalized PMIs will also be the focus.
The Japanese yen lost 0.05% to 109.84 yen against the US dollar.
Outside of china
Private sector PMIs for August will influence market risk sentiment throughout the week.
On Tuesday, NBS figures are expected to be released ahead of Caixin’s all-important manufacturing PMI on Wednesday.
At the end of the week, the Caixin Services PMI will also provide guidance to riskier assets.
The Chinese yuan ended the week up 0.45% to CNY 6.4720 against the US dollar.
Geopolitics
Iran, China and Russia remain the main centers of interest in the markets. News updates from the Middle East, in particular, will require continuous monitoring …
Capitol Hill’s gossip about Afghanistan will also need to be followed.
This article originally appeared on FX Empire
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