The Week Ahead: 16th – 19th August 2022

Overview for the Week Ahead

The Euro fell in European trade for another session off five-week highs on active profit-taking, amid mounting risks about European growth and after an interest rate cut in China.

The Dollar is also gaining considerable ground following disappointing Chinese data, which cast doubt on the overall performance of the global economy. 

EUR/USD fell 0.6% to 1.0192, after losing 0.6% against dollar, the first loss in five days, off five-week highs at 1.0369 on profit-taking. 

Euro maintained a 0.8% profit last week against dollar, the third weekly profit in a month. 

Analysts continue to doubt economic growth prospects in Europe as energy supplies collapse due to the ongoing crisis in Ukraine, in turn hurting euro’s standing. 

The People’s Bank of China earlier cut interest rates unexpectedly, on one-year lending rates to certain loans by 10 basis points to 2.75%.

A batch of weak Chinese industrial data boosted haven demand on the greenback, ahead of important US retail sales data and the Fed’s minutes. 

Have your trading chart ready!

This Week’s High Impact Events

The times below are GMT +3.

Tuesday 16th August

  • 15.30 – Canada – CPI m/m

Potential instruments to Trade: CAD Crosses.

Wednesday 17th August

  • 04.30 – Australia – Wage Price Index q/q

Potential instruments to Trade: AUD Crosses. 

  • 05.00 – New Zealand – Official Cash Rate, RBNZ Monetary Policy Statement, & RBNZ Rate Statement.

Potential instruments to Trade: NZD Crosses. 

  • 15.30 – US – Core Retail Sales m/m, & Retail Sales m/m

Potential instruments to Trade: USD Crosses. 

  • 21.00 – US – FOMC Meeting Minutes

Potential instruments to Trade: USD Crosses. 

Thursday 18th August

  • 04.30 – Australia – Employment Change & Unemployment Rate

Potential instruments to Trade: AUD Crosses. 

  • 15.30 – US – Philly Fed Manufacturing Index, & Unemployment Claims

Potential instruments to Trade: USD Crosses. 

  • 17.00 – US – Existing Home Sales

Potential instruments to Trade: USD Crosses. 

  • 20.20 – US – FOMC Member George Speaks

Potential instruments to Trade: USD Crosses. 

Friday 19th August

  • Tentative – New Zealand – RBNZ Statement of Intent

Potential instruments to Trade: NZD Crosses. 

  • 09.00 – UK – Retail Sales m/m

Potential instruments to Trade: GBP Crosses. 

  • 15.30 – Canada – Core Retail Sales m/m, & Retail Sales m/m

Potential instruments to Trade: CAD Crosses. 

For more information – https://errante.eu/economic-calendar/

If you have any questions or require any assistance, please contact one of our support team members via our Live Chat or email [email protected].

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To find out more about Errante, visit https://errante.eu.

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