Weekly Overview
As we dive into another week, there’s a lot on the economic calendar that could shake things up for markets worldwide. Here’s a quick look at some of the key events that traders and investors will be watching closely.
Tuesday, August 13:
United Kingdom: Early in the day, we'll receive updates on the UK labor market, including the Claimant Count Change for July and Employment Change for June, which will offer insights into the post-pandemic economic recovery. The ILO Unemployment Rate is also expected, with the previous figure standing at 4.4%.
United States: In the afternoon, attention turns to the US with the Producer Price Index excluding Food and Energy for July, which could influence Federal Reserve policy considerations, especially if the figures deviate from the expected 3% annual increase.
Wednesday, August 14:
New Zealand: The spotlight shifts to New Zealand with the RBNZ's Interest Rate Decision, where rates are currently expected to hold at 5.5%. The accompanying Monetary Policy Statement and subsequent press conference will provide crucial context on the economic outlook and policy trajectory.
United Kingdom: More data from the UK will follow, including July's CPI figures, where changes in consumer prices could signal inflation trends, critical for Bank of England policy decisions.
Eurozone: GDP data for the second quarter will be closely watched. Both the quarter-on-quarter and year-on-year growth figures are anticipated to reaffirm the preliminary estimates of 0.3% and 0.6%, respectively.
United States: Consumer Price Index data for July will shed light on inflation dynamics, with analysts closely monitoring any shifts from the previous -0.1% month-on-month and 3% year-on-year figures.
Thursday, August 15:
Japan: GDP data for Q2 will be particularly significant after a contraction of -0.5% in the previous quarter. This release could impact not only local but also global market sentiment.
Australia: Employment data for July will be announced, with the unemployment rate expected to reflect continued stability in the job market at around 4.1%.
China: Updates on Industrial Production and Retail Sales for July will indicate the pace of China's economic recovery, with production previously up by 5.3% year-on-year and retail sales growing by 2%.
United Kingdom: Preliminary GDP figures for Q2 will also come from the UK, providing further insights into the economic impact of ongoing fiscal and monetary policies.
United States: Retail Sales figures for July will highlight consumer spending trends, an essential indicator of economic health in the consumer-driven US economy.
Friday, August 16:
United Kingdom: Retail Sales for July will be closely scrutinized following a -1.2% decline previously, offering clues on consumer confidence and spending resilience.
United States: The week concludes with the preliminary Michigan Consumer Sentiment Index for August, a leading indicator of consumer confidence which could influence market directions as it reflects broader economic trends.
Each of these releases has the potential to cause significant market volatility. Traders are advised to monitor these developments closely, as they could have implications for interest rate decisions, investment strategies, and economic forecasts globally.
Stay tuned and trade safely as we navigate another week of important economic events.
