FOCUS OF THE WEEK!
Dear traders,
The first week of October will be saturated with significant data, which ensures a very high volatility in the market.
The publication of data on business activity (PMI) for China and the USAwill open the week, which will set the mood in the market. In addition to business activity, it is worth to highlight an employment data in Germany and the UK GDP. This will ensure an increase in market activity throughout the day. On Tuesday, the start of trading will be restrained due to the weekend in China and Hong Kong, and the European session will be full of data on business activity in the manufacturing sector (PMI) of the eurozone. But it is worth to note the mood in Japan, the RBA meeting results, data on inflation in the eurozone and Canada’s GDP.
On Wednesday, a small amount of news will be released, including data on inflation in Switzerland, construction in the UK and preliminary employment data in the United States. The latter may have a significant impact on the American dollar before Friday’s US employment report. Thursday will keep the saturation of the economic calendar with data. At the start of the day it is worth highlighting the statement by the Bank of Japan Governor and data on the trade balance of Australia. On the European session, attention will shift to data on business activity in the services sector in the eurozone and the UK. The US session will publish data on business activity (PMI) in the US services sector.
Among the significant data on Friday, it is worth highlighting data on retail sales in Australia, trade balance and business activity in Canada. But the main event of the day and week will be the US employment, from which very positive data is expected. The speech of the US Federal Reserve Chairman Powell is also worth noting, which will be held at the end of the day. It can trigger a surge in market volatility.
The US foreign policy remain the fundamental risk factors for the market. At the same time, the risks of a trade war will be weakened due to a long weekend in China.
The corporate reporting calendar for the week will be blank; some minor corporate reports will be released. (Anton Hanzenko)
Have a good trading week!
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