How Energy Crisis Affects German PMI August 23, 2022, 10:30 GMT+3 Germany will publish Flash Manufacturing PMI data on Tuesday, August 23, at 10:30 MT time (GMT+3)…
5 important events this week will bring us!
- Rate statement by the Reserve bank of Australia (Tue, 7:30 MT (4:30 GMT)) – We anticipate a rate cut from 1.5% to 1.25%. The main reasons behind this decision lie in the intensifying trade tensions between the US and China and the slowdown of inflation. The rate cut is already priced in, that is why it is important to pay attention to the hints on the further decision by the RBA governor Philip Lowe.
- The monetary policy statement by the European central bank (Thu, 14:45 MT (11:45 GMT)) – During this meeting, the rate cut is not expected, but we will focus on the speech by the ECB president Mario Draghi. If he provides positive comments on the outlook of the Eurozone, despite the global pressure, the EUR will rise.
- Canadian trade balance (Thu, 15:30 MT (12:30 GMT)) - Higher-than-expected figures will be positive for the CAD.
- NFP (Fri, 15:30 MT (12:30 GMT)) – According to the forecasts, the level of non-farm payrolls will advance by 180 thousand jobs. Higher figures will be good for the USD.
- Canadian jobs data (15:30 MT (12:30 GMT)) – If the actual level of employment change is higher and the unemployment rate is lower than the forecasts, the CAD will go up.
- Theresa May is about to step down as a leader of the Conservative party on Friday. Her departure will trigger an election that will bring a new leader to power.
- The US dollar slumped to the 5-month low after the forecasts by JP Morgan, Standard Chartered and Barclays for the Fed to cut its interest rate.
- The Italian government will continue the discussion over the difference in fiscal policies with the EU this week.
Russian-Ukrainian conflict is influencing every economic aspect…
Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.