Themes for the Week and potential opportunities
Reminder: Monday is a holiday for the US but given market moving events, the European session should be active.
USD: Monday is a public holiday in the US. Fed speakers Williams (Wed) and Rosengren (Fri) will feature in a relatively quiet week. The ISM non-manufacturing index for August is due on Tuesday.
GBP: services PMI survey (Mon) will potentially be the most influential data point this week. We also have UK industrial production (Wed) and construction output (Fri). More up-to-date evidence for August will come from the British Retail Consortium (Tue). On Wednesday, the Bank of England’s Mark Carney, Jon Cunliffe, Kristin Forbes and Ian McCafferty are due to participate in a hearing of the Parliament’s Treasury Committee.
EUR: The ECB Meeting (Thur) will attract the most attention but before that, the tone will be set by Services Pmi (Mon), GER Factory Orders (Tue), GER Ind. Prod. (Wed).Recent data has been poor and the market is expecting a dovish bias.
CAD: busy week for the Loonie. We have the BoC decision & Ivey PMI (Wed) along with unemployment (Fri). Cad has been taking its cue from oil but this week Canadian fundamentals will play a bigger role and unfortunately seem weaker since the last BoC meeting so chances are the central bank will be dovish and could even talk about the need for more easing.
CNY: China inflation (Fri) is expected to stay subdued around 1.8% y/y, still a long way from the target of 3%. Producer price inflation (PPI) is likely to continue higher as deflation eases further on the back of the increase in commodity prices. Chinese trade data (Thur) are less influential. Caixing PMI (Mon) will also be watched.
AUD: China data will influence AUD but we also have domestic drivers. Job Advertisements (Mon) will take the back seat to teh RBA meeting (Tue) where no change is expected.
Here are the best looking charts going into the week:
Dax Daily
Copper Daily
The post Weekly Game Plan – 4.9.16 appeared first on www.forextell.com.