Weekly economic outlook Sept 7-11: main events & macrostatistics

Weekly economic outlook Sept 7-11: main events & macrostatistics

7 September 2015, 11:34
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This week starts with a very quiet economic calendar but continues potentially with three policy meetings of major central banks. Moreover, market players expect the euro area and the U.K. to release the final GDP, and Australia and the U.K. are expected to issue the Consumer Inflation expectations.

Monday, September 7

Monday marks a bank holiday in the U.S. and Canada, thus the Nasdaq and New York Stock Exchanges, as well as the Toronto Stock Exchange, are closed.

In Japan, the GDP data will be released along with the country’s trade balance later in the day.

Overnight, the National Australia’s Bank will release the Business Confidence in August.

Tuesday, September 8

Germany’s trade balance, Current Account, Export and Imports will be out.

Eurozone’s final GDP growth a while later will be closely eyed.

In the U.S., various economic indicators for August’s Business Optimism and Labour Market conditions are scheduled for release.

Wednesday, September 9

The NIESR GDP will be the key event, after the UK indicators that show the amount of production in manufacturing and industrial sectors. It will draw market’s attention as it will be added to the data that will define Bank of England policymakers tone on Thursday’s policy meeting.

The Bank of Canada and Reserve Bank of New Zealand will hold their meetings later in the day. Both central banks refer to commodity currencies that are the mostly exposed to China’s turmoil consequences and both eased their monetary policies twice in 2015. Even if the banks keep their current monetary policies unchanged, the market players will remain focused to decipher if more rate cuts are coming by the end of the year.

Overnight, Australia will release its Consumer Inflation Expectation for September and Labor data for August.

Thursday, September 10

The Bank of England policy meeting will be closely watched. Market players expect BoE Monetary Policy Committee to maintain the voting pattern of the previous meeting, 8-1-0 in favor of unchanged interest rates and one committee member for an interest rate hike. The BoE monetary policy statement will be closely monitored for further hints on the state of the economy, as many traders believe that regulator will raise interest rates before Fed.

Friday, September 11

Germany and Spain will publish their Inflation rates for August.

In the U.K., the Consumer Inflation Expectations will be published.

In the U.S., the Producer Price Index, Augusts Monthly Budget Statement and the flash Michigan Consumer Sentiment for September will be out.

Saturday, September 12

Eurogroup meeting will take place.

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