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!
- RBA rate statement (Tue, 5:30 MT time (3:30 GMT)) – The interest rate is expected to remain unchanged at 0.75%. Traders need to pay attention to the tone of the statement, as the regulator may provide hints on the possible changes to the interest rate in future. If the RBA forecasts a slash of the interest rate to the downside, the AUD will weaken.
- Canadian balance of trade (Wed, 15:30 MT time (13:30 GMT)) – According to the forecasts, the deficit of the balance will shorten to -0.7 billion CAD. Higher figures will boost the Canadian dollar.
- US balance of trade (Wed, 15:30 MT time (13:30 GMT)) – The deficit of trade for the United States is expected to get lower to -$49 billion. If the actual level is higher, the USD will rise.
- Canadian job data (Fri, 15:30 MT time (13:30 GMT)) – Analysts anticipate the unemployment rate to increase to 5.6%. Also, the employment change will be released, although the forecasts have not been announced yet. A higher-than-expected employment change and lower-than-expected unemployment rate will support the US dollar.
- American job data (Fri, 15:30 MT time (13:30 GMT)) – The US will release NFP alongside with average hourly earnings and unemployment rate. Experts anticipate the number of payrolls to advance by 180 thousand jobs, while average hourly earnings are expected to increase by 0.3% and the unemployment rate is forecast to remain at the same level of 3.6%.
- The improvement of the Chinese manufacturing PMI (51.8 vs. 51.5 expected) during the Asian trading session boosted the risk sentiment in the market and pushed the risk-weighted assets up.
- After the biggest Friday’s loss, the oil prices rebounded as Iraq announced deeper oil cuts ahead of the OPEC+ meeting on Thursday.
- A fresh report on the US-China trade deal expects US President Donald Trump to hold off the implementation of tariffs on December 15. At the same time, it does not expect the deal to be reached this year.
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.