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WEEKLY OUTLOOK |
14.08.2023-18.08.2023 |
Good afternoon traders.
As we are now in the traditional summer quiet period, market activities appear largely subdued. Monday offered very little on the economic docket with US June Consumer Credit Change report coming higher than market expectations at 17.8B. Tuesday also moved in shallow waters with important news coming only from China. Chinese trade balance showed an increase to 576B surpassing investors expectations but turning the market cautious. On Wednesday data from China revealed that the Consumer Price Index (CPI) rose 0.2% on a monthly basis in July. Annual CPI in the same period fell -0.3 compared to 0% in June, while the Producer Price Index (PPI) declined 4.4%. The Consumer Price Index (CPI) report from US indicated an acceleration of 3.2% on Thursday, slightly below market consensus. Another economic report revealed an increase in Initial Jobless Claims to 248,000, surpassing market estimates of 230,000. Finally on Friday the day kicked off with the GDP report from UK showing an economic growth of 0.2% beating market expectations of 0.0%. The week ended with the US Producer Price Index released from the Bureau of Labor Statistics which showed a rise of 0.3% surpassing market expectations.
Have a nice week ahead.
|
Monday 14 August |
||||
|
Time CET |
Cur. |
Event |
Forecast |
Previous |
|
23:30 |
NZD |
Performance of Services Index |
|
50.1 |
|
Tentative |
EUR |
German WPI |
|
-0.2% |
|
Tentative |
CNY |
Foreign Direct Investment |
|
-2.7% |
|
Tuesday 15 August |
||||
|
Time CET |
Cur. |
Event |
Forecast |
Previous |
|
05:00 |
CNY |
Industrial Production |
|
0.3% |
|
09:00 |
GBP |
Claimant Count Change |
|
-69.3B |
|
15:30 |
USA |
Retail Sales |
|
|
|
Wednesday 16 August |
||||
|
Time CET |
Cur. |
Event |
Forecast |
Previous |
|
05:00 |
NZD |
Official Cash Rate |
|
-0.2% |
|
09:00 |
GBP |
CPI |
|
2.640% |
|
21:00 |
USD |
FOMC Meeting Minutes |
|
4.534% |
|
Thursday 17 August |
||||
|
Time CET |
Cur. |
Event |
Forecast |
Previous |
|
04:30 |
AUD |
Unemployment Rate |
|
|
|
15:30 |
USD |
Unemployment Claims |
0.2% |
0.2% |
|
15:30 |
USD |
Philly Fed Manufacturing Index |
|
227k |
|
Friday 18 August |
||||
|
Time CET |
Cur. |
Event |
Forecast |
Previous |
|
02:30 |
JPY |
National Core CPI |
|
0.2% |
|
09:00 |
GBP |
Retail Sales |
|
0.6% |
|
12:00 |
EUR |
Core CPI |
0.2% |
0.1% |
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