What to expect next week 21.08-25.08.2017

The moods this week were mixed. Markets began to forget the tension between the US and North Korea, which was favorable to the risk appetite that returned to the markets. This has had a bad impact on safe-haven instruments such as the yen and gold that started the week with a drop. On Thursday, however, we witnessed another terrorist attack in Barcelona, ​​with which the fear and caution of the markets have returned.

Negative influence is also the pressure from the United States. The new Trump crisis began after a demonstration in Charlottesville, where a woman died, and ten were injured. The president accused both of the violence which sparked the negativity of the Americans into social networks. Business leaders also openly said they did not agree with Donald Trump and left business advice to the president.

The yen will end the week with growth, currently trading at 109.30 against the USD.

Gold traded at around $ 1288.60, starting the week with a downturn, but then backed by geopolitical events.

Shortly before the close of the markets, it was reported that Donald Trump's chief adviser Steve Bennon had left his job.

Important Economic News to Watch Next Week:

Monday:

06:00 - New Zealand - Credit Card Spending

Tuesday:

12:00 - Germany - German ZEW Current Conditions

12:00 - Germany - German ZEW Economic Sentiment

12:00 - Europe - ZEW Economic Sentiment

13:00 - United Kingdom - CBI Industrial Trends Orders

15:30 - Canada – Retail Sales

Wednesday:

10:30 - Germany - German Manufacturing PMI

10:30 - Germany - German Services PMI

11:00 - Europe - Manufacturing PMI

11:00 - Europe - Services PMI

16:45 - USA - Manufacturing PMI

16:45 - USA - Services PMI

17:00 - USA - Crude Oil Inventories

Thursday:

01:45 - New Zealand - Trade Balance

11:30 - UK - GDP

17:00 - USA – Exisitng home sales

Friday:

02:30 - Japan - CPI

09:00 - Germany - GDP

11:00 - Germany - German Business Expectations

11:00 – Germany -  German Ifo Business Climate Index (Aug)

15:30 - USA - Core Durable Goods Orders

Next week, we will be watching the situation in the US and whether President Donald Trump will be able to take down criticism of himself. If the confidence in him  is not returned, we can see the continuation of the USD decline.

On Tuesday, we will be watching EUR, expecting a lot of economic news from the region. The direction of the currency next week is likely to be determined by them. If data is better than expected, we can expect the euro to increase.

Junior Trader Stefan Panteleev

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