This Week's Economic Calendar

The Week Ahead – Everything You Need to Know

In the week ahead, US and UK GDP data will be closely watched as US interest rate hike probability increased and markets will analyse Britain economy post Brexit as UK third quarter GDP will cover the first three month since June 23rd vote.

Australian inflation data will also attract attention as markets expect RBA interest rate cut in the coming month.

Here are the main events for the upcoming week:

  1. Bank of England Governor Marke Carney will testify on Tuesday in front of The Lords Economic Affairs Committee at 15:35 GMT. Carney will discuss the consequences of Brexit. In addition, Carney is also expected to discuss about the UK inflation rate and the recent devaluation of the British Pound.
  2. Australian CPI data will be published on Wednesday at 00:30 GMT. The data will attract market attention and could provide clues for whether the RBA will decide to cut interest rate in coming months. Last week, Australian employment data came out negative and increased pressure on RBA. Australian inflation data is expected to rise slightly to 0.5% from 0.4% in the second quarter while on yearly basis Australian CPI is expected to rise to 1.1% from 1.0%.
  3. UK GDP Data will be published on Thursday at 8:30 GMT. Markets will be closely watching UK third quarter growth since the vote on June 23rd to leave the European Union. QoQ growth is expected to rise by 0.3% from 0.7% in the previous quarter. A weak data can signal further easing action by BoE.
  4. US GDP Data will be released on Friday at 12:30 GMT. Q3 growth is expected to rise by 2.7% from 1.4%. The data can support Federal Reserve rate hike in December. According to FedWatch tool, markets are pricing 64% chance for a rate hike by the end of the year.

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Published by

Tom Chen

Tom Chen is a financial analyst as well as an active trader. Tom began trading currencies and commodities in 2005 which during this time developed and refined his approach. Tom Holds BA in Economics and a Journalism diploma from the 'London School of Journalism'.