This week’s economic calendar features several key events that could impact the markets globally. Here’s a summary of the top economic events for the week:
Sunday, September 8
- Japan GDP (QoQ) (Q2): Japan’s GDP contracted by 0.7%, underperforming the consensus of a 0.8% growth, signaling potential concerns for economic growth in Japan.
Monday, September 9
- China Consumer Price Index (YoY) (Aug): China’s CPI came in at 0.6%, slightly below the consensus of 0.7%, showing signs of subdued inflation in the Chinese economy.
Tuesday, September 10
- Eurozone Harmonized Index of Consumer Prices (YoY) (Aug): The Eurozone’s inflation data for August is scheduled, with the consensus expecting a 2% increase, indicating moderate inflationary pressure.
- UK Employment and Unemployment Data (Jul): The UK will release its employment change and unemployment rate for July. Employment is expected to increase by 24,000, while the unemployment rate is projected at 4.1%.
- BoC Governor Macklem’s Speech: The Governor of the Bank of Canada will speak, providing potential insights into future monetary policy directions.
Wednesday, September 11
- US Consumer Price Index (CPI) Data (Aug): The CPI for August is a key focus for inflation tracking. The YoY figure is expected to show a 2.6% increase, with the core CPI (excluding food and energy) expected to be at 3.2%.
Thursday, September 12
- ECB Interest Rate Decision: The European Central Bank is expected to announce its decision on key rates. The main refinancing rate is forecasted at 4%, while the deposit rate is anticipated to be set at 3.5%.
- ECB Press Conference: Following the rate decision, ECB President Christine Lagarde will hold a press conference to provide further insights into the central bank’s monetary policy outlook.
- US Producer Price Index (PPI) (Aug): The PPI data for August will be released, with core PPI expected to increase by 2.5%, offering additional insights into inflation pressures.
Friday, September 13
- US Michigan Consumer Sentiment Index (Sep): The preliminary September reading for consumer sentiment in the U.S. is expected to come in at 68, reflecting consumers’ outlook on the economy.
Saturday, September 14
- China Industrial Production (YoY) (Aug): Expected to grow by 4.7%, China’s industrial production will provide key insights into the strength of its manufacturing sector.
- China Retail Sales (YoY) (Aug): Forecasted to grow by 2.5%, retail sales data will be important for gauging consumer spending trends in China.
This week’s events focus heavily on inflation data across major economies, interest rate decisions from the European Central Bank, and key speeches that could provide hints on future monetary policy actions.
