Earnings Season is In Focus
Several largest American companies will publish their financial results this week. BTCUSD and XAUUSD are skyrocketing. What's going on in the markets?
So Much News to Follow This Week
Hello, and welcome to the last week of August. We found the best news and collected the most impactful events for you to stay on the top of the market. Let’s go!
Economic calendar
The time zone is GMT+3. Check your time zone here.
Monday:
- All day, UK Bank Holiday
Tuesday:
- AUD 10:40, RBA Gov-Designate Bullock Speaks
- USD 16:00, S&P/CS Composite-20 HPI y/y
- USD 17:00, JOLTS Job Openings
- USD 17:00, CB Consumer Confidence
Wednesday:
- AUD 04:30, CPI
- EUR 10:00, Spanish Flash CPI y/y
- USD 15:15, ADP Non-Farm Employment Change
- USD 15:30, Prelim GDP q/q
Thursday:
- CNH, 04:30, Manufacturing PMI
- EUR 12:00, CPI and Core CPI Flash Estimate y/y
- USD 15:30, Core PCE Price Index m/m
Friday:
- CHF 09:30, CPI m/m
- CAD 15:30, GDP m/m
- USD 15:30, Non-Farm Employment Change, Average Hourly Earnings m/m, and Unemployment Rate
- USD 17:00, ISM Manufacturing PMI
News to watch for today
- August is historically a weak month for the stock market and Bitcoin. However, September is the worst month of the year for these instruments.
- China’s securities regulator approved the launch of 37 retail funds over the weekend, part of government efforts to revive a stock market. The HK50 index is down 13% in August.
- The world’s top central bankers stressed the need to keep interest rates high until inflation is contained.
- BlackRock is the second-biggest holder of the four biggest crypto mining companies. While the rest of the market is sleeping, BlackRock is betting on the crypto industry.
- JPMorgan plans to invest $1 billion annually in AI starting in 2024.
- New Zealand government announces spending cuts and changes to save $4 billion.
Gold analysis for the week ahead
As mentioned in the Telegram channel, gold has spiked to $1905, collecting liquidity from long traders. Now, the metal is ready to move higher. The loss of momentum in the USD confirms this scenario.
The closest resistance is $1930. We expect gold to reach within a week.
Have a profitable week!
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