Will there be new peak in the indexes next week - 13.08 - 17.08.2018

As far as the economic calendar is concerned, there are several important events that traders should look out for next week. On Tuesday, Germany and Europe will announce GDP for the quarter, with no changes expected from the previous quarter. The indices are close to the recordable levels that can be pushed, but the strong dollar may have a negative impact on them and delay the new peaks, despite expectations of good indicators and rapid growth in the economy. The US economy is currently dominating, with macro indicators being very promising. The only thing that does not give calm to investors is inflation and commercial rhetoric.

The strong dollar and Turkish lira will remain in focus. Erdogan can take action on weekends after the TRY collapses to record levels of Trump's twitter speeches. These actions can very well affect both currencies.

How Trump has again crashed currency with a tweet

Next week, the EUR / USD looks vulnerable to the lower levels of 1.13 after breaking into the strong support zone. The market will focus on retail sales in the US and German GDP.

Losing the pound after last week's interest rate hike partly reflects the shift in investor attention to the increased risks associated with Brexit. Traders should not be rushed to their conclusions because they are on a thin summer market and the pounds in August are not in their favor. Moreover, the fear of the global market shows a decline of GBP / USD to zone 1.27-1.28 faster than expected.

Here are the more important economic data we expect next week

Monday
14:20 US - OPEC Monthly Report

Tuesday
05:00 China - Industrial Production
09:00 Germany - GDP
11:30 UK - Average Earnings Index +Bonus
11:30 UK - Claimant Count Change
12:00 Europe - GDP

Wednesday
11:30 UK - CPI
15:30 US - Core retail sales
15:30 US - Retail sales
17:30 USA - Crude Oil Inventories

Thursday
04:30 Australia - Employment Change
11:30 UK - Retail sales
12:00 Europe - Trade Balance
15:30 US - Philadelphia Fed Manufacturing Index
15:30 United States - Building permits
15:30 Canada - Manufacturing Sales

Friday
02:30 Australia -RBA Governor Lowe Speaks
12:00 Europe - CPI
15:30 Canada - Core CPI