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Market Trend - 4 important economic events of the week
Economic Events of the week.
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U.S. retail sales report
A rather busy week is in store for the U.S. dollar as the week ahead will continue to cover the economic activity for September.
This week, the U.S. retail sales report is due to be released. This is followed by the release of the Fed meeting minutes.
The minutes will most likely overshadow the economic data for the week.
The minutes cover the Fed’s meeting in September where interest rates were hiked by 25 basis points.
Officials also signaled a rate hike in December as well as four rate hikes next year.
UK Brexit progress
A busy week for the GBP as inflation and labor market reports are released.
After last week’s economic reports suggesting that the UK’s economy advanced at a pace of 0.7% in the three months to August, investors will look to the inflation and employment report this week.
Consumer prices have seen to stabilize giving wage growth a chance to play catch up.
With the Brexit deadline also fast approaching, the Bank of England will be hoping that inflation remains broadly flat while hoping for wages to rise.
The recent PMI reports released by IHS Markit indicated that employment sub-components remained steady during the month.
US Trade War
The U.S. department of treasury will be releasing its currency report.
The report will be closely watched especially in the backdrop of the U.S. trade war disputes.
The U.S. administration has called out China several times for artificially keeping the yuan low to the USD.
However, in previous treasury currency reports, the U.S. administration came short of making it official.
With the U.S. now in a trade war dispute with China and asking for trade concessions or face higher tariffs on virtually all imports from China, the Treasury report will be interesting to watch out for.
NZ Inflation Report
New Zealand will be releasing its quarterly inflation report.
The data is expected to be released on Tuesday.
In the previous quarter ending June, New Zealand’s inflation advanced 0.4% on a quarterly basis.
For the three months ending September, inflation is forecast to rise 0.7% pushing the annual inflation rate from 1.5% to 1.7%.
