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- What to expect next week 31.07 – 04.08
What to expect next week 31.07 - 04.08
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Loading...In the past week we have seen mixed movements on the US stock indexes with DJIA up to new fresh highs thanks to the positive financial reports of the big companies, while S&P500 and Nasdaq rose but at the end of the week declined due to worse company's earnings and finished around the same levels. European indexes UKX, DAX and CAC ended the week in red.
The dollar continued to drop due to weak economic data and a poor inflation growth. The Swiss franc was the weakest currency down by 2.36% against the dollar. Among the strongest currencies were GBP, AUD, NZD and CAD. The euro appreciated by 0.79% against the dollar this week.
Economic data that will move markets next week:
Monday:
01:45 NZD - Building Consents
02:50 JPY - Industrial Production
04:00 AUD - HIA New Home Sales
04:00 CNY - PMI
04:00 NZD - Business Confidence
04:30 AUD - Private Sector Credit
09:00 EUR - German Retail Sales
12:00 EUR - CPI and Unemployment change
15:30 CAD - RMPI
16:45 USD - Chicago PMI
17:00 USD - Pending Home Sales
Tuesday:
Switzerland - National Holiday
02:30 AUD - AIG Manufacturing PMI
04:45 CNY - Caixin Manufacturing PMI
07:30 AUD -RBA Interest Rate Decision
10:55 EUR - German Manufacturing PMI
11:00 EUR - German Unemployment Change
11:30 GBP - Manufacturing PMI
17:00 USD - ISM Manufacturing PMI
Wednesday:
01:45 NDZ - Employment Change
11:30 GBP - Construction PMI
15:15 USD - ADP Nonfarm Employment Change
17:30 USD - Crude Oil Inventories
Thursday:
04:30 AUD - Trade Balance
04:45 CNY - Caixin Services PMI
10:40 EUR - French Services PMI
10:55 EUR - German Services PMI
11:00 EUR - ECB Economic Bulletin
11:00 EUR - Markit Composite PMI
11:30 GBP - Services PMI
14:00 GBP - BoE Interest Rate Decision
14:30 GBP - BoE Gov Carney Speaks
17:00 USD - ISM Non-Manufacturing PMI
Friday:
04:30 AUD - Retail Sales and RBA Monetary Policy Statement
09:00 EUR - German Factory Orders
15:30 USD - Trade Balance
15:30 USD - Nonfarm Payrolls
15:30 USD - Unemployment Rate
15:30 CAD - Employment Change
17:00 CAD - Ivey PMI
In the next week the earnings season continues. Some of the larger companies that will report are HSBC Holding, Sanofi, Roper Technologies, Apple Inc, Pfizer, Sony Corp, Time Warner Inc., ING Group, Allergan plc, Enbridge Inc., Duke Energy Corporation, Cinga Corporation, Royal Bank Scotland, Aon plc, CBOE Holdings Inc and others.
USD - The US dollar continues to lose value for the third week in a row, reaching a 14-month low. Worse economic data and low inflation rates do not allow the Fed to be hawkish about further interest rates hike. Short positions against the dollar remain in place.
EUR - The euro is among the strongest currencies for another week. The German data for business expectations and the doubled rise in inflation against expectations strongly supported the euro. We stay long on the euro crosses - EUR/USD, EUR/JPY, EUR/GBP.
CAD - The Canadian dollar remains strong. Better data on GDP on Friday led it to continue rising. Probably next week this move will remain.
Jr Trader Ivan Ivanov
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