Of particular interest to traders this week will be the US Consumer Price Index (CPI), the US Producer Price Index (PPI), and the European Central Bank’s (ECB) Rate Decision. These items have the potential to significantly impact the markets. Exercise caution and stay up to date with the latest developments to ensure a successful week of trading.
Here are some notable market highlights for the upcoming week:
The number of people claiming unemployment benefits in the UK increased by 29,000 in July 2023.
The data for August 2023 will be released on 12 September, with analysts expecting a further increase of 17,000.
The British economy expanded by 0.5% in June 2023, rebounding from a 0.1% decline in May.
Analysts anticipate a 0.3% decrease in the data for July 2023, scheduled for release on 13 September.
The monthly inflation rate in the US held steady at 0.2% in July 2023.
Analysts expect an increase of 0.5% in the upcoming CPI figures, set to be released on 13 September.
Employment in Australia decreased by 14,600 in July 2023.
Figures for August 2023 will be released on 14 September, with analysts anticipating an increase of 40,000.
The ECB raised its key interest rates by 25 bps to 4.25% during its July meeting.
For the upcoming meeting on 14 September, analysts expect the central bank to keep the interest rates at 4.25%.
Producer prices in the US rose 0.3% in July 2023, the biggest increase since January 2023.
Analysts expect a 0.4% increase in the figures for August 2023, set to be released on 14 September.
US retail sales were up 0.7% in July 2023. This follows a 0.3% increase in June 2023 and marks a fourth consecutive rise.
Analysts expect a further increase of 0.2% in the figures for August 2023, set to be released on 14 September.
The University of Michigan Consumer Sentiment Index for the US was revised from preliminary estimates of 71.2 to 69.5 in August 2023.
Analysts expect the index to remain at 69.5 in the upcoming figures, set to be released on 15 September.
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