What are the key economic news releases for the week?
Monday has no news releases of note, so Tuesday is when things will kick off, starting with the Average Earnings Index from the UK at 8.30am GMT. At 12.30pm GMT, the CPI data as well as its core component will be released in the United States. Traders will be watching this news release as it will provide some direction on when the Fed is going to take some rate cutting action for the rest of 2019.
Wednesday morning will see the quarterly Wage Price Index being released in Australia at 1.30am GMT. 2am GMT will see the release of some manufacturing data from China, especially the annualized Industrial Production figures. Traders of the Australian Dollar will be looking for possible clues that will force the RBA to take some follow up action after leaving rates unchanged last week. Consumer inflation (monthly CPI) data from the UK will hit the newswires at 8.30am GMT, and this will be closed off later that day by the EIA Crude Oil Inventories data at 2.30pm GMT.
At 1.30am GMT on Thursday, the markets will focus their attention once more towards Australia as the two-pronged employment data (Employment Change and Unemployment Rate) will be released. In the UK, the Retail Sales for the month of July will be released to the market at 8.30am GMT, with markets expecting a drop from the previous month’s figures. In the US, we will have the Philly Manufacturing Index, the Retail Sales and the Core Retail Sales all being released at 12.30pm GMT. These news releases will be the last major releases for the week.
Of course, we can always expect to get something from US President Donald Trump’s Twitter handle that may end up being trade-worthy.Don’t miss a beat! Follow us on Telegram and Twitter.