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)…
All eyes on US CB consumer confidence
The report will be out on August 25 at 17:00 MT time!
Instruments to trade: EUR/USD; USD/JPY; GBP/USD; USD/CAD
The consumer confidence has direct influence on consumer spending, which, in turn, plays the key role in the overall economic activity. The last report for July came out worse than analysts expected. It turned out 92.6, while the forecast was 94.5. That was obviously the coronavirus effect. New virus cases rose steadily during that time. However, these days things have changed. The infections’ curve is declining. In addition, other economic indicators showed that the economy is rebounding and people are getting back to work. However, we can’t be absolutely confident what the report will bring. Don’t miss the USD move!
- If the US consumer confidence is better than the forecasts, the USD will rise.
- Otherwise – fall.
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!
The US will reveal Non-farm payrolls on January 7, Friday, at 15:30 GMT+2 (MetaTrader time).
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.
Every week we expect many interesting events that can shake the market.