7th August 2017 - 11th August 2017
It’s a pretty quiet day on the macroeconomic calendar for the day ahead, with stats out of Eurozone this morning having been limited to Germany’s June industrial production figures and July housing price figures out of the UK. Coming from US about the Labor Market Condition, followed by speech of FOMC Member Kashkari the President of the Minnesota Fed is an outspoken dove that dissented from the previous rate hikes. It will be very interesting to hear his comments on the latest jobs report. If it is good enough for Kashkari, it is a hawkish sign from the Fed. Later in the day, Consumer Credit Change will be released that shows if consumers can afford large expenses, which can fuel economic growth. Quite a day as Germany will release Trade Balance numbers followed by UK GDP Estimate of growth over the last 3 months up to the report which comes out a month before the official announcement. The report is highly reliable and would influence the UK monetary policy. Early in the day, The Treasury Committee will report about e the expenditure, administration and policy of HM Treasury, HM Revenue & Customs, and associated public bodies, including the Bank of England and the Financial Services Authority followed by US Unit Labor Costs Higher costs of labor could trigger an earlier rate hike. Nonfarm Productivity that will indicate the overall business health in the US, which has an influence on GDP. This quarterly measure serves as another indicator for wages or inflation. Lastly, the Reserve Bank of New Zealand has maintained the interest rate at 1.75% since the cut last November. The recent disappointing jobs report means no imminent rate hike is on the cards. The RBNZ and Governor Graeme Wheeler will provide jobs report justification. Early in the day the Consumer Inflation Expectation will release by the Melbourne Institute presents the consumer expectations of future inflation during the next 12 months. The higher expectations, the stronger the effect they will have on a probability of a rate hike by the RBA. In the U.K., manufacturing production unexpectedly declined in May, adding to the feeling that the economy is weakening ahead of the Brexit. This will serve as an indicator of the strength of UK manufacturing activity that dominates a large part of total GDP. Followed by the Changes in industrial production are widely followed as a major indicator of strength in the manufacturing sector. The most awaited day as the France & US will release its CPI. It is a key indicator to measure inflation and changes in purchasing trends that will affect some volatility in the currencies. The CPI is what matters most to traders, and after declining from 2.7% in February to 1.6% in June, economists expect prices to edge up 1.8%. If inflation data suggests that prices are back on the rise, this will lead to revaluating the rate hike path and strengthens the case for a December rate hike. Appearances by a number of Fed speakers will also be in the spotlightMonday
Tuesday
Wednesday
Thursday
Friday
