Weekly Analysis (04 - 08 Sep 2023)
| Time | Currency | Event |
| Monday | ||
| 13:30 | AUD | ECB President Lagarde Speaks |
| 13:00 | EUR | German Buba President Nagel Speaks |
| 23:30 | JPY | Household Spending (YoY) (Jul) |
| Tuesday | ||
| 01:45 | CNY | Chinese Composite PMI |
| 04:30 | AUD | RBA Interest Rate Decision (Sep) |
| 07:00 | EUR | ECB President Lagarde Speaks |
| 08:00 | USD | HCOB Eurozone Services PMI (Aug) |
| 08:30 | USD | S&P Global/CIPS UK Services PMI (Aug) |
| Wednesday | ||
| 12:00 | EUR | German CPI (MoM) (Aug) |
| 12:15 | USD | ADP Nonfarm Employment Change (Aug) |
| 12:30 | USD | GDP (QoQ) (Q2) |
| 14:00 | USD | Pending Home Sales (MoM) (Jul) |
| 14:30 | USD | Crude Oil Inventories |
| Thursday | ||
| 06:00 | GBP | Halifax House Price Index (MoM) (Aug) |
| 09:00 | USD | GDP (QoQ) (Q2) |
| 12:30 | USD | Initial Jobless Claims |
| 14:00 | USD | FOMC Member Harker Speaks |
| 15:00 | OIL | Crude Oil Inventories |
| 20:30 | USD | Fed's Balance Sheet |
| 19:30 | USD | FOMC Member Williams Speaks |
| 20:55 | USD | FOMC Member Bowman Speaks |
| 23:50 | JPY | GDP (QoQ) (Q2) |
| Friday | ||
| 06:00 | EUR | German CPI (MoM) (Aug) |
| 07:00 | EUR | German Buba Wuermeling Speaks |
| 10:00 | EUR | EU Economic Forecasts |
The week ahead brings significant economic events and data releases across various currencies.
In the United States, the ISM Non-Manufacturing PMI survey on Wednesday will be closely watched, potentially impacting the Fed's decision-making. A surprising increase in August would signal a strong US economy ready for further rate hikes. Additionally, Thursday's jobless claims data could paint a positive picture of the labor market.
In Europe, German trade data on Monday may disappoint due to weak global demand. Tuesday's service sector PMIs for Italy and Spain, along with finalized PMIs for France, Germany, and the Eurozone, could affect the euro's sentiment, especially if preliminary numbers are revised downward. Later in the week, German factory orders and industrial production will influence investor sentiment, and Eurozone Q2 GDP numbers on Thursday will be crucial.
For the British Pound, the BRC Retail Sales Monitor on Tuesday will set the tone. Upbeat August numbers are needed to alleviate recessionary concerns, but a consumption rebound could draw the Bank of England's scrutiny. Additionally, keep an eye on construction and composite PMIs and housing price figures.
The Bank of Canada's interest rate decision on Wednesday will impact the Canadian Dollar, with expectations of rates remaining unchanged. The accompanying rate statement and comments from BoC Governor Macklem will be pivotal. Trade data on Wednesday and employment figures on Friday will also provide direction.
In Australia, the RBA's September interest rate decision on Tuesday is the main event, with expectations of no rate change. Economic indicators, such as retail sales and Q2 GDP numbers, will be closely monitored, along with July's trade data.
The Japanese Yen's performance will depend on household spending and services PMI numbers on Tuesday. Bank of Japan Governor Ueda's comments on wage growth and inflation dynamics will be crucial. On Friday, second quarter GDP numbers will provide further insights. Additionally, Bank of Japan Board Member Nakagawa's remarks will be closely watched, especially for any hawkish signals.
Overall, these events and data releases will shape the currency markets in the week ahead, with central bank decisions, economic indicators, and commentary from key figures driving market sentiment.