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Economic Calendar: economic news coming up this week in August
This week’s Economic Calendar unsurprisingly focuses its attention on what has been dubbed ‘Super’ Thursday. See below for this weeks economic calendar.
Monday 3rd August
(UK) Markit Manufacturing PMI (Jul) – Manufacturing PMI Homepage gives an indication on market conditions and helps to show the strength and condition of the economy.
(EU) Markit Manufacturing PMI (Jul) – As above.
(US) ISM Manufacturing PMI & ISM Prices Paid (Jul) – Manufacturing PMI as above. ISM Prices paid takes into account Manufacturing PMI but also future production and orders.
Tuesday 4th August
(UK) PMI Construction (Jun) – gives an indication on market conditions within the construction industry.
(EU) No news!
(US) No news!
Wednesday 5th August
(UK) No news!
(EU) Markit Services PMI & Retail Sales (YoY)(Jun) – Markit Services PMI gives an overview of the sales and employment condition in the Eurozone. The retails sales compiled by Eurostats – measures sales within the Eurozone retail sector. The previous data was 2.4% – this time the consensus suggest a contraction to 1.9%.
(US) Markit Services PMI, Trade Balance – Markit services PMI as above. Trade Balance shows the balance between the exports and imports. A positive value shows a trade surplus whilst negative results shows a trade deficit.
Thursday 6th August
(UK) Bank of England Announcements: – Asset Purchasing, Rate Decision & Inflation Report. Key reports coming out this week will point towards whether a rates rise will occur this year. It’s likely to announce that a few of the members have voted for a rates rise. This will be keenly watched by investors and homeowners alike, as rates rises could well add extra £’s onto mortgage repayments.Read the full MPC statement here.
(EU) No news!
(US) Weekly Jobless claims – compiled to show new unemployment claims.
Friday 7th August
(UK) Goods Trade Balance & Total Trade Balance:- Trade Balance shows the balance between the exports and imports. A positive value shows a trade surplus whilst negative results shows a trade deficit.
(EU) German Imports (MoM)(Jul) & Current Account n.s.a (Jun) – Imports results derived from transaction in goods and services. The current account data shows the flow of capital into Germany from goods, services and interest payments. The results will be watched by many to see how the EU’s powerhouse is performing.
(US) Unemployment Rate (Jul) & Nonfarm Payrolls (Jul): – Unemployment rate indicates to the strength of the US labor market. Nonfarm payrolls account for the number of people not on agricultural payroll. The previous rate was 223K and is anticipated to fall slightly or stay the same.
Verdict:- Not a huge amount going in during the week until we get to Thursday, already dubbed ‘super’ Thursday. UK investors will be keen to know the outcome. Keep an eye out on the news as it will be vital news for the UK economy and for homeowners. Roll on ‘Super’ Thursday!
Article by Michael Cooper
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Economic Calendar: What’s in the economic news this week?
This week’s economic calendar has a few key announcements coming out – UK GDP – US FOMC meeting starts – EU CPI Index and the list goes on before UK economic news tails off by the end of the week.
(UK) CBI Industrial Trends Survey will be announced
(EU)M3 Money Supply announcement expected to be 5.1%. M3 Money supply is a broad measure by economists to measure the entire money supply in the economy.
IMF are to announce their outlook for the Eurozone. They are expected to predict growth and give a general overview of the stability of the Eurozone.
(UK) Preliminary GDP announcement. The UK’s Growth is predicted to show the UK’s 10th quarter of sustained economic growth. The second quarter is expected to outperform the 0.4% in the first quarter of the year. Visit the GDP announcement.
(UK) Index of Services – The ONS will release results regarding the monthly movements in gross value for the services industry. This will be closely linked with the above, as services account “for around 78 per cent of UK Gross Domestic Product (GDP)” – according to the ONS’ website.
(US) FOMC Meeting begins – the FOMC meet eight times a year – these meetings have become more and more important and will be of key significance to investors with a keen eye on the pending rates rise.
No economic news for the UK – no news is good news!
(US) FOMC Meeting Announcement – a short release regarding the FOMC meeting which should give some indications as to inflation and rates rise. A full statment will be released on the FOMC Website.
Again no economic news for the UK!
(EU) Economic Sentiment Indicator for July – Eurozone data from the European Commission expressing consumer confidence in economic activity within the Eurozone.
(US) Weekly Jobless Claims – The previous report was 255,000. The Jobless claims are a way of gauging the strength of the job market. The new unemployment figures are compiled from new applications for unemployment insurance.
No economic news for the UK – more news will be announced in next weeks economic calendar.
(EU) Unemployment Rate (July) – Last announcement saw the rate at 11.1%. This is a key piece of data showing the strength of the European Labour market.
(EU) Consumer Price Index (CPI) for July – previous announcement was 0.2% and the forecast is considered to be unchanged.
(US) Employment Cost Index Q2 – will be announced. This measures compensations costs inclusive of salaries, benefits etc.
Verdict:- This weeks economic calendar should highlight the strengthening dollar whilst the FOMC’s measured announcement should sustain the consensus that interest rates are to rise this year. For the UK, we should expect an increase in growth. This no doubt will strengthen GBP. For the EU, it will be seen whether the Greek debacle has impacted the Eurozone and its consumer confidence – jury’s out on that one.
For Gold, the price is going to be largely suppressed this week as announcements should strengthen both the dollar and sterling which usually weigh heavy on the yellow metal. Gold is still reeling from the upset in China last week. Going to be an interesting week for Gold.
Article by Michael Cooper