Federal Reserve Chairman Jerome Powell's speech became the last week's main event following the annual Symposium in Jackson Hole. The US Nonfarm Payrolls report will become the week's main event as it is the most important data for the Fed's monetary policy decision. Economists believe the labor market will add 295,000 jobs in August after 528,000 in July. The data on the preliminary inflation rate in the Eurozone should also be on the trader's list since the ECB meeting is two weeks away. Also, investors should not miss the Manufacturing PMI data in various countries. Falling below 50 is a serious slowdown in the sector, which usually leads to a recession.
Monday, August 29
Usually, Monday is an ordinary trading day with low volatility, but after the Jackson Hole symposium, the week may start very actively. It is a bank holiday in the United Kingdom.
Main events of the day:
- – Australia Retail Sales (m/m) at 04:30 (GMT+3);
- – US FOMC Member Brainard Speaks at 21:15 (GMT+3).
Tuesday, August 30
The main event on Tuesday will be German inflation data. Germany is the leading economy in the Eurozone so this data will be taken into account by the ECB for monetary policy adjustments. Investors should also focus on the US CB Consumer Confidence data.
Main events of the day:
- – Spanish Consumer Price Index (m/m) at 10:00 (GMT+3);
- – German Consumer Price Index (m/m) at 15:00 (GMT+3);
- – US CB Consumer Confidence (m/m) at 17:00 (GMT+3);
- – US JOLTs Job Openings (m/m) at 17:00 (GMT+3);
- – US FOMC Member Williams Speaks at 18:00 (GMT+3).
Wednesday, August 31
On Wednesday, investors' attention will be riveted to preliminary data on consumer prices in the Eurozone. Analysts are predicting that the annual inflation rate will rise to 9%. Traders should also pay attention to the quarter's ADP Non-Farm Employment Change and Cana GDP data.
Main events of the day:
- – Japan Industrial Production (m/m) at 02:50 (GMT+3);
- – Japan Retail Sales (m/m) at 02:50 (GMT+3);
- – New Zealand ANZ Business Confidence (m/m) at 04:00 (GMT+3);
- – China Manufacturing PMI (m/m) at 04:30 (GMT+3);
- – China Non-Manufacturing PMI (m/m) at 04:30 (GMT+3);
- – French Consumer Price Index (m/m) at 09:45 (GMT+3);
- – German Unemployment Rate (m/m) at 10:55 (GMT+3);
- – Italian Consumer Price Index (m/m) at 12:00 (GMT+3);
- – Eurozone Consumer Price Index (m/m) at 12:00 (GMT+3);
- – US FOMC Member Mester Speaks at 15:00 (GMT+3);
- – US ADP Non-Farm Employment Change (m/m) at 15:15 (GMT+3);
- – Canada GDP (q/q) at 15:30 (GMT+3);
- – US Chicago PMI (m/m) at 16:45 (GMT+3);
- – US Crude Oil Reserves (w/w) at 17:30 (GMT+3).
Thursday, September 01
Thursday will bring various statistics on the Manufacturing PMI data for many countries. It is an important economic indicator that shows the state of the sector. As a rule, a recession starts when this indicator falls below the 50 mark. Investors will also focus on the weekly US Initial Jobless Claims data, which is an important indicator of the US labor market behavior. Traders should also pay attention to the Natural Gas Storage data, which has a significant impact on natural gas prices, especially when there is a huge gas shortage in Europe because of the sanctions imposed on Russia for its invasion of Ukraine.
Main events of the day:
- – US FOMC Member Bostic Speaks at 01:30 (GMT+3);
- – Japan Manufacturing PMI (m/m) at 03:30 (GMT+3);
- – China Caixin Manufacturing PMI (m/m) at 04:45 (GMT+3);
- – German Retail Sales (m/m) at 09:00 (GMT+3);
- – Switzerland Retail Sales (m/m) at 09:30 (GMT+3);
- – Switzerland Consumer Price Index (m/m) at 09:30 (GMT+3);
- – Spanish Manufacturing PMI (m/m) at 10:15 (GMT+3);
- – Italian Manufacturing PMI (m/m) at 10:45 (GMT+3);
- – French Manufacturing PMI (m/m) at 10:50 (GMT+3);
- – German Manufacturing PMI (m/m) at 10:55 (GMT+3);
- – Eurozone Manufacturing PMI (m/m) at 11:00 (GMT+3);
- – UK Manufacturing PMI (m/m) at 11:30 (GMT+3);
- – Eurozone Unemployment Rate (m/m) at 12:00 (GMT+3);
- – Canada Building Permits (m/m) at 15:30 (GMT+3);
- – US Initial Jobless Claims (w/w) at 15:30 (GMT+3);
- – US ISM Manufacturing PMI (m/m) at 17:00 (GMT+3);
- – US Natural Gas Storage (w/w) at 17:30 (GMT+3).
Friday, September 02
Nonfarm Payrolls data will become investors' most important Friday release so that the volatility can be increased. This indicator is also taken into account by the Fed to adjust monetary policy. Traders should also keep a close eye on the Eurozone Producer Price Index.
Main events of the day:
- – Switzerland Unemployment Rate (m/m) at 09:30 (GMT+3);
- – Eurozone Producer Price Index (m/m) at 12:00 (GMT+3);
- – US Nonfarm Payrolls (m/m) at 15:30 (GMT+3);
- – US Unemployment Rate (m/m) at 15:30 (GMT+3).
by , 2022.08.29
We advise you to get acquainted with the daily forecasts for the major currency pairs.This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
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