The Week Ahead: 5th – 9th September 2022

Overview for the Week Ahead

The stock market is poised for more turbulence this week when investors return to Wall Street on Tuesday for a holiday-shortened trading week.

U.S. markets will be closed on Monday in observance of Labor Day.

In the coming week, Federal Reserve Chair Jerome Powell will deliver remarks Thursday at the Cato Institute’s 40th Annual Monetary Conference, one day after the Federal Reserve releases its latest Beige Book report.

The global economic calendar will be busy, with the European Central Bank, Reserve Bank of Australia, and Bank of Canada all set to meet as officials around the world scramble to tackle surging inflation.

Europe’s central bank is expected to raise rates by 0.75% after price increases in the eurozone hit a new record high.

Meanwhile in Silicon Valley, Apple’s (AAPL) annual fall product launch event will commence on Wednesday, September 7. Unlike in 2020 and 2021, this year’s unveiling will take place in person at the company’s Cupertino headquarters.

Apple is expected to roll out two new iPhones, a new Watch, and potentially new AirPod devices. Updates on its Mac and iPad lines are expected next month.

Britain finally learns who its next prime minister will be on Monday after two months of political uncertainty during which energy prices skyrocketed and tens of thousands of workers went on strike.

The governing Conservative Party plans to announce whether Foreign Secretary Liz Truss or former Treasury chief Rishi Sunak won the most votes from party members to succeed Boris Johnson as party leader and thus prime minister.

Whoever emerges victorious will inherit an economy heading into a potentially lengthy recession and will need to jump straight into tackling the cost-of-living crisis walloping the UK.

In other economic news, Turkish inflation is on track to peak above 80% soon, though the risk is that it will leave price expectations entrenched at elevated levels for years to come.

For much of the year, Turkey has been resilient to the fastest inflation in over two decades despite inaction by the central bank. Now, a few corners of the $820 billion economy are seeing pressures moderate sharply, with August rates of input cost and selling price inflation in manufacturing at the weakest in over a year.

Have your trading chart ready for an opportunity to trade!

This Week’s High Impact Events

The times below are GMT +3.

Monday 5^th September

All-Day – OPEC – JMMC Meetings

Potential instruments to Trade: All Crosses.

18.30 – UK – MPC Member Mann Speaks

Potential instruments to Trade: GBP Crosses.

** Please note that in the US and Canada, it is a bank holiday in observance of Labor Day. **

Tuesday 6^th September

07.30 – Australia – Cash Rate & RBA Rate Statement

Potential instruments to Trade: AUD Crosses.

16.45 – US – Final Service PMI

Potential instruments to Trade: USD Crosses.

17.00 – US – ISM Services PMI

Potential instruments to Trade: USD Crosses.

Wednesday 7^th September

04.30 – Australia – GDP q/q

Potential instruments to Trade: AUD Crosses.

12.00 – UK – Monetary Policy Report Hearings

Potential instruments to Trade: GBP Crosses.

17.00 – Canada – BOC Rate Statement, Overnight Rate, & Ivey PMI

Potential instruments to Trade: CAD Crosses.

17.00 – US – FOMC Member Mester Speaks

Potential instruments to Trade: USD Crosses.

19.35 – US – FOMC Member Brainard Speaks

Potential instruments to Trade: USD Crosses.

Thursday 8^th September

06.05 – Australia – RBA Gov. Lowe Speaks

Potential instruments to Trade: AUD Crosses.

15.15 – Europe – Main Refinancing Rate & Monetary Policy Statement

Potential instruments to Trade: EUR Crosses.

15.30 – US – Unemployment Claims

Potential instruments to Trade: USD Crosses.

15.45 – Europe – ECB Press Conference

Potential instruments to Trade: EUR Crosses.

16.10 – US – Fed Chair Powell Speaks

Potential instruments to Trade: USD Crosses.

Friday 9^th September

All-Day – Europe – EU Economic Summit

Potential instruments to Trade: EUR Crosses.

15.30 – Canada – Employment Change & Unemployment Rate

Potential instruments to Trade: CAD Crosses.

19.00 – US – FOMC Member George & Waller Speaks

Potential instruments to Trade: USD Crosses.

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

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