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)…
Will the pound keep standing?
Services and Manufacturing PMIs are out on Wednesday at 11:30 MT time.
Instruments to trade: EUR/GBP, GBP/USD, GBP/CAD, GBP/CHF
The British economy is facing a number of difficulties. Not that the other economies are just fine, but there is an overlapping of various problems peculiar to the UK. Brexit’s gloomy outlook, end of the state’s financial support, and countrywide job cuts are the central issues. So far, the GBP seems to be the only character on the stage that is not panicking so far. That’s why the release of the Services and Manufacturing PMIs may become a crucial crossroads for the British pound to either keep standing or finally succumb to the overwhelming pressure of issues. If the figures are even slightly higher than thought, that may be a stepping stone for the GBP to take an upward trajectory against its counterparts. Otherwise, it will tremble – at least.
- If the results beat the expectations, the GBP will rise.
- If the figures are worse than forecasts, the GBP will 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 volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?
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.