FOCUS OF THE WEEK!
Dear traders,
The last full week of September promises to be full of different data.
The start of the week will be completely devoted to data on business activity in the manufacturing sector (PMI): Germany, the eurozone and the USA. This will set the mood in the foreign exchange market in the conditions of low activity at the beginning of the week. On Tuesday, the saturation of the economic calendar will be low, and market attention will be focused on the business climate in Germany and consumer confidence in the United States. On Wednesday, the New Zealand trade balance, the results of the RBNZ meeting and the sale of new housing in the United States deserve special attention. It is especially worthwhile to mention the RBNZ meeting, which could have a significant impact on the New Zealand dollar.
Starting on Thursday, the economic calendar will be full of statistics. So, on Thursday data on the consumer climate in Germany, a monthly ECB report and the US GDP will be released. The publication of the US GDP remains the highlight of the week despite low expectations. On Friday, a significant inflation data is expected in Japan and the USA, including: durable goods orders, personal consumption expenses and consumer expectations. This will make the closing of the week very volatile.
The fundamental risk factor for the market this week will be tension in the Middle East, which will continue to have a significant impact on the oil market. It is also worth to note the possibility of an increase in protectionism in the United States. Especially with regard to the US President D. Trump towards the US Federal Reserve.
The corporate reporting calendar for the week will be empty; few corporate reports will be released. (Anton Hanzenko)
Have a good trading week!
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