The Week Ahead – A Particularly Busy Economic Calendar to Keep the Markets Busy

On the Macro

It’s a particularly busy week ahead on the economic calendar, with 76 stats in focus in the week ending 3^rd September. In the week prior, 49 stats had also been in focus.

For the Dollar:

In the first half of the week, consumer sentiment, ADP nonfarm employment, and ISM Manufacturing PMI figures are in focus.

Expect the consumer sentiment and ADP numbers to be key.

In the 2^nd half of the week, the focus will shift to the jobless claim figures on Thursday.

Wrapping things up, however, will be the nonfarm payrolls and ISM Non-Manufacturing PMIs for August. Another surge in hiring and that could be the green light for the FED to make a move.

In the week ending 3^rd September, the Dollar Spot Index fell by 0.87% to 92.686.

For the EUR:

It’s a particularly busy week on the economic data front.

On Tuesday, French consumer spending and 2^nd quarter GDP numbers are due out along with German unemployment data.

Expect the GDP and unemployment figures to be of greater influence.

On Wednesday, German retail sales and Spanish and Italian manufacturing PMIs are due out. Finalized numbers for France, Germany, and the Eurozone will also draw attention, however.

Barring marked revisions to prelim numbers, Italy and the Eurozone’s PMIs and German retail sales will be key.

At the end of the week, service sector PMIs will also be in focus.

For the week, the EUR rose by 0.83% to $1.1795.

For the Pound:

It’s a quiet week ahead on the economic calendar.

Finalized private sector PMIs for August are due out on Wednesday and Friday.

Expect any revision to the services PMI to be key.

The Pound ended the week up by 1.04% to $1.3764.

For the Loonie:

It’s a busier week ahead on the economic calendar.

2^nd quarter GDP numbers will be key on Tuesday. On Thursday, trade data will also influence, however.

The Loonie ended the week up 1.57% to C$1.2620 against the U.S Dollar.

Out of Asia

For the Aussie Dollar:

Company gross operating profits and private sector credit will be in focus early in the week.

GDP numbers on Wednesday and trade data on Thursday will be the key stats of the week, however.

The Aussie Dollar ended the week up by 2.52% to $0.7312.

For the Kiwi Dollar:

It’s a quiet week ahead.

Building consents and business confidence figures are due out on Tuesday.

Expect business confidence figures for August to be key.

From elsewhere, private sector PMIs from China and COVID-19 news updates will also influence.

The Kiwi Dollar ended the week up by 2.57% to $0.7011.

For the Japanese Yen:

Retail sales figures for July gets things going on Monday.

On Tuesday industrial production figures for July will also draw plenty of interest.

Through the rest of the week, capital spending and finalized private sector PMIs will also be in focus.

The Japanese Yen fell by 0.05% to ¥109.84 against the U.S Dollar.

Out of China

Private sector PMIs for August will influence market risk sentiment through the week.

On Tuesday, the NBS numbers are due out ahead of the all-important Caixin Manufacturing PMI on Wednesday.

At the end of the week, the Caixin Services PMI will also provide riskier assets with direction.

The Chinese Yuan ended the week up by 0.45% to CNY6.4720 against the U.S Dollar.

Geo-Politics

Iran, China, and Russia continue to be the main areas of interest for the markets. News updates from the Middle East, in particular, will need continued monitoring…

Chatter from Capitol Hill over Afghanistan will also need tracking.