The Week Ahead – All the Things You Need to Know

In the week ahead, markets will take in the outcome of the US nonfarm payrolls & unemployment data that was released on Friday and will continue to focus on further predictions of US rate hike in September & December.

US markets will be closed on Monday for Labor Day.

Here are the main economic events for the upcoming week:

  1. On Monday at 1:45 GMT, China Caixin PMI will be released. The data is expected to remain steady at 51.7.
  2. UK Services PMI will be released on Monday at 8:30 GMT and forecast to rise to 49.4 from 47.4. The data can shed lights on the UK economy post-Brexit.
  3. On Monday at 9:00 GMT, July Eurozone Retail Sales will be published. Sales are expected to rise by 0.6% in July compared to 0.0% in the previous month. YoY sales are expected to rise by 2%, an increase from 1.6% in the previous year.
  4. The RBA (Reserve Bank of Australis) Interest Rate Decision will be published on Tuesday at 4:30 GMT. Rates are expected to remain unchanged at 1.5%. However, keep an eye for any comments from policymakers regarding further changes of Australian economic policy.
  5. Eurozone third quarter GDP will be released on Tuesday at 9:00 GMT. Expectations for quarterly growth to rise by 0.3% from 0.6%. YoY is expected to rise by 1.6% compared to 1.7% in the previous year.
  6. On Tuesday at 14:00 GMT, the US ISM Manufacturing PMI will be released and expected to decline slightly to 55 from 55.7.
  7. Australia Growth Domestic Product(GDP) will be released on Wednesday at 1:30 AM. Growth for the second quarter is expected to rise by 0.7%, a decline from 1.1% while YoY growth falls to 3.00% from 3.1% a year earlier.
  8. Canada Interest Rate Decision – The BoC will release its rate decision on Wednesday at 14:00 GMT. Rates are forecasted to remain unchanged at 0.5%.
  9. On Wednesday at 11:50, Japan’s second-quarter GDP is expected to hold at 0.00% compared to 0.5% in the previous quarter. YoY growth is expected to decrease significantly to 0.2% from 2.00%.
  10. ECB Interest Rate Decision – Markets will focus on this event this week to get hints for European monetary policy. The interest rate is expected to remain unchanged at 0.0%. The ECB conference will attract the market’s attention to see whether further stimulus actions are expected.
  11. China’s Inflation rate will be released on Friday at 1:30 GMT. MoM CPI is expected to be 0.0%, a decrease from the previous data of 0.2%. YoY forecasts to rise by 1.8% unchanged from the previous month.
  12. Germany & UK Trade Balance – German balance of trade will be published on Friday at 6:00 GMT and expected to post a surplus of €20.7B compared to €24.9B in June. UK balance of trade will be released at 8:30 GMT and expected to narrow to £4.5B from £5.1B in the previous month.
  13. Canada Employment Data will be published on Friday at 12:30 GMT. the unemployment change is expected to hold steady at 6.9% while employment change figure is expected to grow by 3200 new jobs compared to July fall of 31,200.

Check out our real-time Economic Calendar

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'.