FOCUS OF THE WEEK!
Dear traders,
The first full working week of August will be saturated with significant statistics, among which are data on GDP, inflation and a number of CB meetings.
On Monday, the week opens with the publication of business activity data (PMI) in the services sector in China, Germany, the eurozone, the UK and the USA. What will set the market sentiment after Friday’s US employment report.
On Tuesday, the it is worth to highlight: data on employment in New Zealand, the RBA meeting results and the number of open vacancies in the United States. On this day, the bulk of the news falls in the morning.
On Wednesday at the beginning of the day, the results of the RBNZ meeting will be published, from which key rates are expected to be lowered. It is also worthwhile to highlight data on industrial production in Germany and stocks of oil and oil products in the USA during the day.
On Thursday, the economic calendar will also be held back for news. From the published data, it is worth highlighting the trade balance of Japan, the trade balance of China and the ECB monthly report.
On Friday, the economic calendar will be full of data. At the beginning of the day it is worth to highlight: preliminary data on Japan’s GDP and inflation in China. The European session will also be saturated with data on employment in Switzerland and the UK GDP. At the American session, employment data in Canada and producer prices in the US will be released.
From the fundamental risk factors this week, the risks of a US-China trade war have returned to the forefront. It is also worth noting the risks of a tough Brexit for Europe.
The corporate reporting calendar for the week will be full of reports. (Anton Hanzenko)
Have a good trading week!
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