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!
- Canadian CPI (Wed, 15:30 MT (12:30 GMT) time) – According to forecasts, the indicator will advance by 0.1%. Higher figures will be appreciated by the CAD bulls.
- FOMC Meeting minutes (Wed, 21:00 MT (19:00 GMT) time) – We will wait for the release, as look for more hints regarding the future rate decisions by the Fed. In case of more hawkish hints, the USD will be supported.
- New Zealand’s retail sales (Fri, 1:45 MT (22:45 GMT) time) – We anticipate the level of retail sales to increase by 0.1%. If the actual figures are higher, the NZD will rise.
- Canadian core retail sales (Fri, 15:30 MT (12:30 GMT) time) – The indicator is expected to decline by 0.1%. Higher figures will be positive for the CAD.
- Speech by the Fed Chair Powell (Fri, 17:00 MT (14:00 GMT) time) – If the Fed Chair sounds hawkish, the USD will go up.
- The US plans to postpone restrictions that the Trump administration has imposed on China’s Huawei Technologies Co. It increased the risk-on sentiment in the markets.
- Oil prices jumped on the news that Saudi Arabian oil field was attacked by the drone.
- On the Brexit front, the government preparations to the no-deal Brexit were leaked. As a result, Jeremy Corbyn plans to bring opposition parties together next week to discuss the prevention of a no-deal Brexit.
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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.