Financial calendar for the week 08.08.2022 – 14.08.2022

Financial calendar for the week 08.08.2022 – 14.08.2022

Table of Contents


Assessment of the principle occasions of the Foreign exchange financial calendar for the subsequent buying and selling week (08.08.2022 – 14.08.2022)

The greenback ended the primary week of August within the optimistic territory in opposition to its major rivals within the international trade market. The rationale for optimism and new hopes of patrons of the greenback was the publication final Friday of a really optimistic month-to-month report of the US Division of Labor with knowledge for July. In line with this report, unemployment fell to a brand new pre-pandemic degree of three.5%, and the variety of non-farm payrolls within the US economic system grew by 528,000 (in opposition to the forecast of a rise of 250,000 and the earlier revised worth of +398,000 from +372,000) . Common hourly wages additionally rose above expectations of +0.3% progress to +0.5%.

Thus, the labor market continues to be a powerful level of the American economic system. The printed knowledge considerably improved the evaluation of the state of the US economic system after the publication of a disappointing 2Q GDP report per week earlier.

Amid the elevated optimism of buyers, the DXY greenback index once more broke up the mark of 106.00, having risen from the low of the week at 104.93. On the whole, judging by the DXY chart, the optimistic dynamics of the greenback continues. Recall that final month the greenback index up to date a 20-year excessive, touching the mark of 109.14.

The subsequent week will likely be calm with few publications of vital macro statistics.

However, market members will take note of the macro knowledge from China, Germany, the US, and the UK.

*) in the course of the coming week, new occasions could also be added to the calendar and / or some scheduled occasions could also be cancelled.

** GMT time

Monday, August 8

No vital macro statistics scheduled to be launched.

Tuesday, August 9

No vital macro statistics scheduled to be launched.

Wednesday, August 10

01:30 CNY Client Worth Index (CPI)

The Nationwide Bureau of Statistics of China will current common month-to-month knowledge reflecting the dynamics of client costs in China. Rising client costs might set off an acceleration in inflation, which might power the Individuals’s Financial institution of China to take measures geared toward tightening fiscal coverage. Strengthening progress in client inflation might trigger appreciation of the yuan, whereas a low outcome will put stress on the yuan.

The Chinese language economic system, in accordance with numerous estimates, is already the biggest on this planet, pushing the US economic system to second place. Due to this fact, the publication of vital macroeconomic indicators of this nation has a major affect on world monetary markets, totally on the positions of the yuan, different Asian currencies, the greenback, commodity currencies, in addition to Chinese language and Asian inventory indices. China is the biggest purchaser of uncooked supplies and a provider of a variety of completed merchandise to the world commodity market.

In June 2022, the expansion of the patron inflation index amounted to 0% (+2.5% in annual phrases).

The deterioration of macroeconomic indicators, together with the decline in client inflation, might adversely have an effect on the positions of the yuan, in addition to commodity currencies such because the Canadian, Australian, New Zealand {dollars}. To a higher extent, this is applicable to the Australian greenback, since China is Australia’s largest commerce and financial associate.

The expansion of the patron inflation index can have a optimistic affect on the quotes of the yuan, in addition to commodity currencies. Nonetheless, knowledge than anticipated and the relative decline within the CPI might negatively have an effect on them.

06:00 EUR Harmonized Index of Client Costs (HICP) in Germany (last launch)

This index is printed by the EU Statistics Workplace and is calculated on the premise of a statistical technique agreed between all EU nations. It’s an indicator for assessing inflation and is utilized by the Governing Council of the ECB to evaluate the extent of worth stability. A optimistic outcome strengthens the EUR, a detrimental outcome weakens it.

Earlier indicator values: +8.2% in June, +8.7% in Might, +7.8% in April, +7.6% in March, +5.5% in February, +5.1% in January 2022 (in annual phrases). If the July knowledge seems to be higher than the earlier values, the euro might strengthen within the quick time period. The expansion of the indicator is a optimistic issue for the euro. The information level to mounting inflationary pressures in Germany, which in flip is placing stress on the ECB to tighten its financial coverage. Knowledge worse than the earlier worth can have a detrimental affect on the euro. Forecast: +8.2% in July (preliminary estimate was +8.5%).

12:30 USD Client Worth Index (ex meals and vitality)

Client Worth Index (CPI) determines the change in costs of a particular basket of products and providers over a given interval and is a key indicator for assessing inflation and altering client preferences. Meals and vitality are excluded from this indicator for a extra correct estimate. A excessive outcome strengthens the US greenback, whereas a low outcome weakens it. In March 2022, the worth of the indicator was +0.3% (+6.5% in annual phrases), in April +0.6% (+6.2% in annual phrases), and in June +0.7% ( +5.9% in annual phrases), which signifies a rise in client inflation after the autumn of the index in March and April 2020 in opposition to the backdrop of the coronavirus pandemic. If the info seems to be weaker than the forecast, the greenback is prone to react with a short-term decline. Knowledge higher than the forecast will strengthen the greenback. Forecast for July: +0.5% and +6.1% (in annual phrases), which signifies continued inflationary stress within the US economic system.

Thursday, August 11

No vital macro statistics scheduled to be launched.

Nonetheless, merchants would possibly need to take note of the publication of the block of the US macro statistics at 12:30, which can improve volatility available in the market if the info differs drastically from the forecast.

Specifically, some slowdown in producer worth progress is predicted in July: +0.3% (+10.6% yoy) after rising +1.1% (+11.3% yoy) in June.

The US Division of Labor may even current a weekly report with knowledge on the variety of purposes for unemployment advantages. If the quantity grows in the course of the reporting week (till August 5), it will negatively have an effect on the greenback.

Friday, August 12

06:00 GBP UK GDP for the 2nd quarter (first estimate)

GDP is taken into account an indicator of the general well being of the British economic system. The rising pattern of the GDP indicator is taken into account optimistic for the GBP. The UK GDP was one of many highest on this planet till 2016, when the Brexit referendum was held. Then its progress slowed down, and with the onset of the worldwide coronavirus pandemic, the expansion charge of British GDP fully moved into detrimental territory.

Earlier GDP values: +0.8% in Q1 2022, +1.3% in This fall, +1.0% in Q3, +5.5% in Q2 after falling by -1.6% within the 1st quarter of 2021. The principle elements that would power the Financial institution of England to maintain the speed low are weak GDP and labor market progress, in addition to low client spending. If GDP knowledge seems to be considerably worse than earlier values, then it will put downward stress on the pound. A robust GDP report will strengthen the pound.

14:00 USD College of Michigan Client Confidence Index (preliminary launch)

This indicator displays the boldness of American customers within the financial growth of the nation. A excessive degree signifies progress within the economic system, whereas a low degree signifies stagnation. Earlier indicator values: 51.5 in July, 50.0 in June, 58.4 in Might, 65.2 in April, 59.4 in March, 62.8 in February, 67.2 in January 2022. A rise within the indicator will strengthen the USD, and a lower within the worth will weaken the greenback. The information testify to the uneven restoration of this indicator, which is detrimental for the USD. Knowledge worse than earlier values ​​might have a detrimental affect on the greenback within the quick time period. Forecast for August: 52.0.

Worth chart of EURUSD in actual time mode

The content material of this text displays the writer’s opinion and doesn’t essentially replicate the official place of LiteFinance. The fabric printed on this web page is supplied for informational functions solely and shouldn’t be thought of as the supply of funding recommendation for the needs of Directive 2004/39/EC.

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