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Trends & Analysis
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Gold continues to shine amid geopolitical worries

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Trends & Analysis
News

Gold continues to shine amid geopolitical worries

News

Crude oil dips for 3rd session after supply data

News

Is there an AI upside for AMD?

News

GBP/USD recovers following wage report

News

Buy the JPMorgan dip?

News

Goldman Sachs shares surge after earnings beat

Weekly Market Preview

Week Ahead Preview:

28th of August

 

Monday, August 28, 2023

Markets will be eagerly anticipating a set of key economic data releases this week of the world’s largest economies. Investors are poised to gain more insights about the US economy through crucial reports such as the US jobs report for August. This report will shed light on the performance of the labour market, while the US consumer spending index for July, a key metric for the Federal Reserve’s inflation assessment, will also be closely watched.

 

The above-mentioned data will have a substantial weight in shaping expectations for the Federal Reserve’s upcoming September decision whether to hike 25 basis point, pushing rates to 5.75%, or maintain the current 5.5% rate. It’s noteworthy that markets have not priced in any rate hikes, as they await the outcome of these data releases, including the US CPI report for August.

 

On the other side of the pond, the European Central Bank rate’s decision of September will hinge on the inflation levels of August due this week. It is noteworthy that any higher than 5% level are likely to lead the central bank to continue its rate hike cycle. However, it’s crucial to consider the trajectory of European growth, which might experience further decline due to the concurrent rise in interest rates. Indicators like the manufacturing PMI remains below the-50 threshold, and recently the services sector PMI has dropped below 50 for the first time this year, suggesting that the European economy could be heading to stagflation.

 

Economic Data Highlights
Tuesday 29th of August 
  • EUR – GfK Consumer climate (Sep- Germany)
  • USD- Consumer confidence (Aug)
Wednesday 30th of August  
  • EUR- CPI (Aug- Germany)
  • USD- ADP Employment Change (Aug)
  • USD- GDP (Q2)
  • US Crude oil inventories
Thursday 31st of August
  • CNY- Manufacturing PMI (Aug)
  • EUR- Retail Sales (Jul- Germany)
  • EUR- Inflation rates (Aug)
  • EUR- Unemployment rates (Jul)
  • USD- PCE index (Jul)
Friday 1st of September  
  • CHF- Inflation Rates (Aug)
  • USD- Non-Farm Payrolls (Aug)
  • USD- Unemployment rates (Aug)
  • CAD- GDP (Q2)
  • USD- ISM Manufacturing PMI (Aug)

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