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MARKET ANALYSIS

Cutting-Edge Market Commentary for Informed Strategy Making

WEEKLY OUTLOOK


14.08.2023-18.08.2023


Good afternoon traders.


As we are now in the traditional summer quiet period, market activities appear largely subdued. Monday offered very little on the economic docket with US June Consumer Credit Change report coming higher than market expectations at 17.8B. Tuesday also moved in shallow waters with important news coming only from China. Chinese trade balance showed an increase to 576B surpassing investors expectations but turning the market cautious. On Wednesday data from China revealed that the Consumer Price Index (CPI) rose 0.2% on a monthly basis in July. Annual CPI in the same period fell -0.3 compared to 0% in June, while the Producer Price Index (PPI) declined 4.4%. The Consumer Price Index (CPI) report from US indicated an acceleration of 3.2% on Thursday, slightly below market consensus. Another economic report revealed an increase in Initial Jobless Claims to 248,000, surpassing market estimates of 230,000. Finally on Friday the day kicked off with the GDP report from UK showing an economic growth of 0.2% beating market expectations of 0.0%. The week ended with the US Producer Price Index released from the Bureau of Labor Statistics which showed a rise of 0.3% surpassing market expectations.


Have a nice week ahead.



Monday 14 August

Time CET

Cur.

Event

Forecast

Previous

23:30

NZD

Performance of Services Index


50.1

Tentative

EUR

German WPI

-0.2%

Tentative

CNY

Foreign Direct Investment

-2.7%


Tuesday 15 August

Time CET

Cur.

Event

Forecast

Previous

05:00

CNY

Industrial Production

0.3%

09:00

GBP

Claimant Count Change

-69.3B

15:30

USA

Retail Sales


Wednesday 16 August

Time CET

Cur.

Event

Forecast

Previous

05:00

NZD

Official Cash Rate

-0.2%

09:00

GBP

CPI

2.640%

21:00

USD

FOMC Meeting Minutes

4.534%


Thursday 17 August

Time CET

Cur.

Event

Forecast

Previous

04:30

AUD

Unemployment Rate



15:30

USD

Unemployment Claims

0.2%

0.2%

15:30

USD

Philly Fed Manufacturing Index

227k


Friday 18 August

Time CET

Cur.

Event

Forecast

Previous

02:30

JPY

National Core CPI

0.2%

09:00

GBP

Retail Sales

0.6%

12:00

EUR

Core CPI

0.2%

0.1%


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