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28.08.2023-01.09.2023
Good afternoon traders.
Markets started cautiously this week with major currency pairs trading near Friday's closing levels. Monday and Tuesday went by without any significant movement in the market. However, Wednesday was a different story with PMI releases from Germany, UK, US, Eurozone as well as Canadian retail sales data. GBP and Euro faced a sharp drop after alarming PMI readings which showed a rapid decline in the service sectors. The Canadian Dollar also took a hit after core retail sales revealed a larger-than-expected contraction. On Thursday all eyes turned to the Fed’s Symposium in Jackson Hole with several top central bankers of developed countries will make statements and possibly give clues at crucial changes in their monetary policy. Before the event kicked off, a big bag of data got released in the US. Unemployment Claims contracted from 239K to 230K, and Durable Goods Orders went from 4.6% to -5.2%. Lastly, on Friday the day kicked off with Germany releasing the German ifo Business Climate report which came below market expectations at 2.8%. Late afternoon the Chairman of the Federal Reserve, Jerome Powell delivered a speech on the US economic outlook followed by ECB’s President Christine Langarde.
Have a nice week ahead.
|
Monday 28 August |
||||
|
Time CET |
Cur. |
Event |
Forecast |
Previous |
|
04:30 |
AUD |
Retail Sales |
0.3% |
-0.8% |
|
09:00 |
EUR |
M3 Money Supply |
0.1% |
0.6% |
|
15:30 |
USD |
Dallas Fed Mfg Business Index |
-21.6 |
-20.0 |
|
Tuesday 29 August |
||||
|
Time CET |
Cur. |
Event |
Forecast |
Previous |
|
09:00 |
EUR |
GfK German Consumer Climate |
-24.2 |
-24.4 |
|
17:00 |
USD |
CB Consumer Confidence |
|
117.07 |
|
17:00 |
USD |
JOLTS Job Openings |
|
9.582M |
|
Wednesday 30 August |
||||
|
Time CET |
Cur. |
Event |
Forecast |
Previous |
|
04:30 |
AUD |
CPI |
5.20% |
5.40% |
|
Tentative |
EUR |
German Prelim CPI |
0.2% |
0.3% |
|
15:30 |
USD |
Prelim GDP |
2.4% |
2.0% |
|
Thursday 31 August |
||||
|
Time CET |
Cur. |
Event |
Forecast |
Previous |
|
04:30 |
CNY |
Manufacturing PMI |
49.5 |
49.3 |
|
12:00 |
EUR |
Core CPI Flash |
5.3% |
5.5% |
|
15:30 |
USD |
Core PCE Price Index |
0.3% |
0.3% |
|
Friday 01 September |
||||
|
Time CET |
Cur. |
Event |
Forecast |
Previous |
|
04:45 |
CNY |
Caixin Manufacturing PMI |
49.5 |
49.2 |
|
15:30 |
USD |
Non-Farm Employment Change |
|
187K |
|
17:00 |
USD |
ISM Manufacturing PMI |
46.6 |
46.4 |
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