On the macro
It’s a busier week on the economic calendar, with 59 stats at a glance during the week ending 1st October. During the previous week, 39 statistics had also been finalized.
For the dollar:
Core durable goods orders for August kick off on Monday.
The focus will then be on consumer confidence figures on Tuesday. We have seen the market’s sensitivity to consumer confidence intensify in recent months.
On Thursday, the focus will then be on final GDP figures for the 2sd quarterly and weekly jobless claims. Unless there is a sharp revision to the GDP numbers, expect jobless claims to be key.
At the end of the week, the figures for inflation, personal spending and the ISM manufacturing PMI will also influence.
On the monetary policy front, we expect heightened sensitivity to chatter from FOMC members in the week. Fed President Powell and a number of FOMC members are expected to speak later this week.
In the week ending 24e In September, the Dollar Spot Index rose 0.14% to 93.327.
For the euro:
It’s a relatively busy week on the economic data front.
German consumer sentiment and unemployment figures will be the center of attention on Tuesday and Thursday.
Consumer spending by France and Germany will also generate interest on Tuesday and Friday.
Manufacturing PMI figures for Italy and Spain, and finalized PMIs for France, Germany and the euro zone conclude on Friday.
With inflation still a key area of ââfocus, preliminary inflation figures for Member States and the Eurozone will also influence the week.
On the monetary policy front, ECB President Lagarde is also expected to speak during the week. Expect any chatter about the economic outlook or monetary policy to move the dial.
On the week, the euro fell 0.04% to $ 1.1720.
For the pound:
It’s a relatively quiet week ahead on the economic calendar.
Key stats include 2sd Quarterly GDP and finalized manufacturing PMI expected Thursday and Friday.
Expect any revisions to the preliminary numbers to influence.
On the monetary policy front, BoE Governor Bailey is due to speak on Wednesday. Following the hawkish orientations of the BoE last week, the governor’s speech will generate a lot of interest.
The British pound ended the week down 0.45% to $ 1.3679.
For the loonie:
It’s yet another quiet week on the economic calendar.
The RMPI figures will be the center of attention on Thursday before the GDP figures on Friday.
Expect the GDP numbers to have a bigger impact in the week. However, a lot will depend on how risky the market feels.
The loonie ended the week up 0.88% to C $ 1.2652 against the US dollar.
Outside of Asia
For the Australian dollar:
It’s a relatively quiet week.
The retail sales figures expected on Tuesday will be the key statistic for the week. On Thursday, the credit numbers to the private sector will also influence, however.
Outside of the economic calendar, updates on the government’s plans on lockdown measures will also be essential, however.
The Australian dollar ended the week down 0.23% to $ 0.7262.
For the Kiwi-dollar:
It’s another quiet week to come.
Economic data is limited to business confidence figures expected Thursday.
With the markets examining the impact of the latest foreclosure measures, expect some interest in the numbers.
The key, however, will be updates from the New Zealand government on any plans to reopen.
The Kiwi dollar ended the week down 0.36% to $ 0.7015.
For the Japanese yen:
Figures for industrial production and retail sales will spark interest on Thursday.
More important, however, will be 3rd Quarter figures from the Tankan survey expected on Friday.
The Japanese yen fell 0.73% to 110.97 against the US dollar.
Outside of china
Private sector activity is coming back to the fore.
NBS manufacturing and non-manufacturing PMIs as well as Caixin’s all-important manufacturing PMI will test market risk sentiment on Thursday.
Another round of weak numbers will likely weigh heavily on riskier assets.
The Chinese yuan ended the week at CNY 6.4662 against the US dollar.
Iran, China and Russia remain the main centers of interest in the markets. China news updates, in particular, will need to be watched after last week’s vacation.
This article originally appeared on FX Empire
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