The Week Ahead: 12th – 16th September 2022

Overview for the Week Ahead

Germany, Spain, and the U.S. all release CPI reports on Tuesday, the U.K. releases its report on Wednesday, France releases its report on Thursday, and Italy and the Eurozone as a whole release theirs on Friday.

Producer Price Index (PPI) reports are also due out from Japan, Switzerland (Tuesday), the U.K. (Wednesday), and the U.S.

The expectations are for inflation to be easing in the U.S., with month over month Core CPI expected at 0.3%, matching last month’s number; this would mark the lowest back-to-back readings since last fall. Headline CPI is expected to be -0.1%, as dropping gas prices continue to take pressure off inflation. Core PPI is expected to be 0.3%, a rise from last month’s 0.2%, while the headline PPI number is also expected to be -0.1%.

Those expectations are quite different in Europe; the U.K. is forecast to see core CPI month over month growth of 0.8%, a significant jump, while headline CPI is expected to jump another 0.6%. The Eurozone is forecast to see a 0.5% rise in the core CPI number, a jump from last month’s revised figure of 0.1%. The same is expected of headline CPI, as energy prices still loom large with the seasons changing.

The ECB has already made its latest move, hiking interest rates by 75 basis points last week. The Fed is expected to stick to at least a 50 basis points hike if not 75, and the inflation reports are not expected to shake it, but no doubt Chair Jerome Powell would welcome signs that inflation is at least moderating meaningfully.

The Bank of England, whose meeting was due this week but postponed in the wake of Queen Elizabeth II’s death, faces a more fluctuating environment with new Prime Minister Liz Truss in charge and already having issued a major energy plan. Its effect on the market is among the things the BOE will have to weigh; it will also get an employment report as an additional piece of data to throw into the mix.

This Week’s High Impact Events

The times below are GMT +3.

Monday 12th September

  • No High Impact Events Today

Tuesday 13th September

  • 04.30 – Australia – NAB Business Confidence

Potential instruments to Trade: AUD Crosses. 

  • 15.30 – US – CPI & Core CPI m/m

Potential instruments to Trade: USD Crosses. 

  • 18.00 – US – FOMC Member Williams Speaks

Potential instruments to Trade: USD Crosses. 

Wednesday 14th September

  • 09.00 – UK – CPI y/y

Potential instruments to Trade: GBP Crosses. 

  • 15.30 – US – PPI m/m & Core PPI m/m

Potential instruments to Trade: USD Crosses. 

Thursday 15th September

  • 01.45 – New Zealand – GDP q/q

Potential instruments to Trade: NZD Crosses. 

  • 04.30 – Australia – Employment Change & Unemployment Rate

Potential instruments to Trade: AUD Crosses. 

  • 15.30 – US – Core Retail Sales, Empire State Manufacturing Index, Retail Sales m/m, & Unemployment Claims

Potential instruments to Trade: USD Crosses. 

Friday 16th September

  • 05.00 – China – Retail Sales y/y

Potential instruments to Trade: CNY Crosses. 

  • 09.00 – UK – Retail Sales m/m

Potential instruments to Trade: GBP Crosses. 

  • 17.00 – US – Prelim UoM Consumer Sentiment

Potential instruments to Trade: USD Crosses. 

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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