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Today, JustForex’s team of financial analysts has prepared a new review of events in the upcoming week. These events can significantly affect the Forex market. Choose and track the ones that are most important to you.
On Friday, September 01, the attention of the financial markets participants was focused on the report on the US labor market. In August, 156,000 jobs were created in the non-agricultural sector of the country, which is 13.3% less than the forecasted value of 180,000. The growth of the average hourly wage was 0.1%. Experts expected the figure at 0.2%. The unemployment rate increased from 4.3% to 4.4%. This statistic has reduced the financial markets participants’ expectations of another increase in the Fed’s interest rate this year. At the moment, the probability of tightening the monetary policy is 41.9%.
In the upcoming trading week, we recommend you to pay attention to the following macroeconomic events and reports.
Sep 4th, Monday
On Monday, the news background will be calm enough. At 11:30 (GMT+3:00) the index of business activity in the construction sector in the UK will be published.
The financial markets of the US and Canada will be closed due to the holiday.
Sep 5th, Tuesday
On Tuesday, the attention will be focused on the meeting of the Reserve Bank of Australia. At 07:30 (GMT+3:00) the regulator will announce the decision on the monetary policy. At the moment, most experts believe that the Central Bank will leave the interest rate unchanged at 1.50%.
Investors will also monitor the following economic reports:
- The data on GDP and inflation in Switzerland at 08:45 (GMT+3:00) and 10:15 (GMT+3:00), respectively.
- A number of indices of business activity in Germany and the Eurozone at 10:55 (GMT+3:00) and 11:00 (GMT+3:00), respectively.
- The index of business activity in the services sector of the UK at 11:30 (GMT+3:00).
At 20:10 (GMT+3:00) the FOMC member Kashkari will hold a speech.
Sep 6th, Wednesday
On Wednesday, the news background will be very eventful. During the Asian trading session, the data on Australia’s GDP for the second quarter will be published at 04:30 (GMT+3:00).
At 17:00 (GMT+3:00) there will be a meeting of the Bank of Canada. Participants of the financial markets believe that the regulator will leave the interest rate at the previous level of 0.75%. At the same time, it is necessary to closely follow the comments and rhetoric of the Central Bank representatives.
At 17:00 (GMT+3:00) the data on business activity in the non-manufacturing sector of the US from ISM will be released. At 21:00 (GMT+3:00) the Fed’s Beige Book will be published.
Sep 7th, Thursday
On Thursday, the ECB will take a decision on the monetary policy at 14:45 (GMT+3:00). At 15:30 (GMT+3:00) there will be a press conference with the head of the Central Bank Mario Draghi.
We also recommend paying attention to the following statistics:
- Retail sales and the balance of visible trade of Australia at 04:30 (GMT+3:00).
- The Eurozone GDP report at 12:00 (GMT+3:00).
- Ivey’s business activity index in Canada at 17:00 (GMT+3:00).
- Crude Oil Inventories in the US at 18:00 (GMT+3:00).
Sep 8th, Friday
On Friday, during the Asian trading session, China will publish the balance of the country’s trade. At 02:50 (GMT+3:00) the report on Japan’s GDP will be released.
At 11:30 (GMT+3:00), the UK Statistical Office will publish the data on the volume of production in the manufacturing industry.
At 15:30 (GMT+3:00) we expect a report on the Canadian labor market.