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Weekly Market Preview
Friday, 6th of September 2024
This week, markets are closely watching the US Consumer Price Index (CPI) report for August. The YoY headline inflation is projected to decline from 2.9% in July to 2.6% in August, primarily due to the significant drop in energy prices. Meanwhile, the YoY core inflation is expected to remain stable at 3.2%. This report comes ahead of the Federal Reserve meeting this month, where the central bank is anticipated to cut interest rates for the first time since ending its rate hike cycle in July 2023. A lower-than-expected inflation rates nearing the Fed’s 2% target could pave the way for a more rapid rate cut pace towards the neutral levels that neither hinder nor overly stimulate US economic growth.
Investors are also awaiting the European Central Bank’s interest rate decision, with expectations of a 25-basis point cut from 3.75% to 3.50%. The ECB will also release its updated forecasts for European growth and inflation for this year and next. Market participants will be closely monitoring ECB President Christine Lagarde’s press conference for further insights into the direction of European monetary policy, particularly regarding the pace of future rate cuts. Any signals of additional rate cuts this year could weaken the euro, while indications of maintaining the current pace which means pausing in October, may provide support to the euro price against other major currencies.
Monday, 9th of September
Tuesday, 10th of September
Wednesday, 11th of September
Thursday, 12th of September
Friday, 13th of September
ADSS
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PO Box 93894
Abu Dhabi
United Arab Emirates
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