This week, investors will focus on the FOMC minutes of the July meeting, which will analyze for clues about the size of September rate hikes. The UK will publish data on inflation, which is expected to approach the 10% mark. In Europe, an important second-quarter GDP report will be released. The Central Banks of New Zealand and Norway hold monetary policy meetings where significant interest rate hikes are expected. Traders should also not miss the Consumer Price Index data in Japan and Canada, as well as the monetary policy meeting minutes from the Reserve Bank of Australia.
Monday, August 15
On Monday, traders will mainly focus on Japan’s GDP for the last quarter. Analysts forecast that the Japanese economy will grow by 0.6%. The National Bureau of Statistics of China will release many important statistics that will be important for Asian indices. It’s a bank holiday in France and Italy.
Main events of the day:
- Japan GDP (q/q) at 02:50 (GMT+3);
- China Industrial Production (m/m) at 05:00 (GMT+3);
- China Unemployment Rate (m/m) at 05:00 (GMT+3);
- China Retail Sales (m/m) at 05:00 (GMT+3);
- Japan Industrial Production (m/m) at 07:30 (GMT+3);
- US NY Empire State Manufacturing Index (m/m) at 15:30 (GMT+3);
- Canada Wholesale Sales (m/m) at 15:30 (GMT+3).
Tuesday, August 16
On Tuesday, the day’s main event will be Canada’s inflation data. Analysts want to see a slowdown in inflation, but if data shows consumer prices rising, the Canadian dollar could see an upward move. Investors should also be attentive to the labor market data from Great Britain. Traders should also be on the level of Industrial Production in the United States.
Main events of the day:
- Australia RBA Meeting Minutes at 04:30 (GMT+3);
- UK Average Earnings Index (m/m) at 09:00 (GMT+3);
- UK Claimant Count Change (m/m) at 09:00 (GMT+3);
- UK Unemployment Rate (m/m) at 09:00 (GMT+3);
- Eurozone German ZEW Economic Sentiment (m/m) at 12:00 (GMT+3);
- Eurozone ZEW Economic Sentiment (m/m) at 12:00 (GMT+3);
- US Building Permits (m/m) at 15:30 (GMT+3);
- Canada Consumer Price Index (m/m) at 15:30 (GMT+3);
- US Industrial Production (m/m) at 16:15 (GMT+3).
Wednesday, August 17
On Wednesday, all investors will be focused on the FOMC Meeting Minutes. Economic data over the past two weeks have bolstered investor hopes that the Central Bank will be able to soft-land the economy. But if the report is more hawkish, investor sentiment may change. Also, on Wednesday, the UK will publish inflation data which is expected to accelerate to 9.8% from 9.4% in June, approaching the peak of 13.3% that the Bank of England forecasts for October. In New Zealand, the Central Bank will hold monetary policy sessions. The RBNZ is expected to hold another interest rate hike of 50 bps.
Main events of the day:
- Australia Wage Price Index (q/q) at 04:30 (GMT+3);
- New Zealand RBNZ Interest Rate Decision (m/m) at 05:00 (GMT+3);
- New Zealand RBNZ Monetary Policy Statement (m/m) at 05:00 (GMT+3);
- New Zealand RBNZ Press Conference at 06:00 (GMT+3);
- UK Consumer Price Index (m/m) at 09:00 (GMT+3);
- Eurozone GDP (q/q) at 12:00 (GMT+3);
- US Retail Sales (m/m) at 15:30 (GMT+3);
- US FOMC Member Brainard Speaks at 16:30 (GMT+3);
- US Crude Oil Reserves (w/w) at 17:30 (GMT+3);
- US FOMC Meeting Minutes (m/m) at 21:00 (GMT+3);
- US FOMC Member Bowman Speaks at 21:20 (GMT+3).
Thursday, August 18
On Thursday, Consumer Price data will be updated in the Eurozone. Analysts expect inflation to remain at the same level. It is also worth keeping a close eye on the labor market data in Australia. Strong data may bolster confidence that the RBA will continue to raise interest rates aggressively.
Main events of the day:
- Australia Unemployment Rate (m/m) at 04:30 (GMT+3);
- Eurozone Consumer Price Index (m/m) at 12:00 (GMT+3);
- US Initial Jobless Claims (w/w) at 15:30 (GMT+3);
- US Philadelphia Fed Manufacturing Index (m/m) at 15:30 (GMT+3);
- US Existing Home Sales (m/m) at 17:00 (GMT+3);
- US Natural Gas Storage (w/w) at 17:30 (GMT+3);
- US FOMC Member George Speaks (m/m) at 20:20 (GMT+3).
Friday, August 19
The main event to watch on Friday is the Japan National Consumer Price Index. Strategists are predicting that inflation in Japan will rise by 0.2%. A rise in inflation could spark a strengthening of the Japanese yen. And July UK retail sales data due out Friday may provide more evidence of recession.
Main events of the day:
- Japan National Consumer Price Index (m/m) at 02:30 (GMT+3);
- UK Retail Sales (m/m) at 09:00 (GMT+3);
- Germany Producer Price Index (m/m) at 09:00 (GMT+3);
- Canada Retail Sales (m/m) at 15:30 (GMT+3).
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.