FX Weekly Preview Overview:
- The turnaround until mid-September will allow another week for important data to be publishedThe DailyFX economic calendar has ten highly rated events.
- Now in the window of communication loss before September FOMC At the meeting, US economic data will gain additional weight instead of Fed speakers.
- In general, recent changes retailer positioning recommend that US dollar is a confusing prejudice.
Please visit for next week DailyFX economic calendar.
TUESDAY 12:30 GMT | USD Inflation Rate (CPI) (AUG)
Inflation in the United States has been hotter than expected at the time of the latest data release, but forecasts suggest that the trend will change. According to a Bloomberg News study the title USA inflation rate is deadline at + 0.4% from + 0.5% (w / w) and + 5.3% from +5.4% (a / a) inches August, together core inflation rate (former energy and food) two in unchanged at + 0.3% (w / w) and + 4.2% from +4.3% (ice).
Another month, if US inflation exceeds + 5%, it should attract the attention of policymakers, as Fed chairman Jerome Powell admitted during his Jackson Hole speech that the inflation mandate has been achieved. Should the US CPI report again exceed expectations, increased volatility in financial markets should be expected, as the Fed increasingly seems to be cornered: the momentum of US data has deteriorated just as efforts to normalize policy have focused.
WEDNESDAY 06:00 GMT | GBP Inflation Rate (CPI) (AUG)
After avoiding higher inflationary pressures in much of 2021, price pressures in the United Kingdom appear to be on the rise. According to a Bloomberg News study, it is the title August UK inflation ratearrives at +0.5% from 0% (m / m) and +2.9% from +2.2% (ice), at the same time core inflation rate (eg–energy and food) with a maturity of +2.9% from + 1.8% (and / or). Rising price pressures in the UK could help give the Bank of England a greater say in its stimulus removal efforts, which have already been launched since policymakers began normalizing earlier this year.
WEDNESDAY 12:30 GMT | CAD inflation rate (AUG)
According to a Bloomberg News study, August Canada’s inflation rate (CPI) is projected to rise + 0.1% from + 0.6% (m / m) and +3.9% from +3.7% (y / y), while the main reading is at +3.4% from +3.3% (ice). The decision by the Bank of Canada to suspend policy normalization may be short-lived if the August CPI report shows further price increases.Elections in Canada next week are hampering Loonie, which continues to deviate from rising energy prices. Trudeau’s victory gives permission Canadian dollar re-link if BOC normalization continues.
THURSDAY 01:30 GMT | AUD Employment Change and Unemployment Rate (AUG)
After several regional closures, the Australian economy appears to have slowed in the mid-2021s. According to a Bloomberg News study, the Australian economy is lost-90K work August, a significant drop in the insignificant + 2K jobs added in July. The unemployment rate is expected to rise from 4.6% to 4.9%. The Reserve Bank of Australia’s decision to cut its QE program while extending its timeframe – in some ways ‘lower for a long time’ – suggests that policymakers are anticipating economic hardship, although rising vaccination needs and inoculation rates may be the worst in the rearview mirror.
THURSDAY 12:30 GMT | USD Retail Prepay (AUG)
Consumption is the most important part of the US economy, accounting for about 70% of total GDP. Undoubtedly, the best monthly overview of US consumption trends can be a retail advance report. As the August data have shown so far, the problems with the delta option have led to a slowdown in the economy, which is likely to be reflected in consumption figures. AAccording to a Bloomberg News study, consumption fell on retail sales in advance at -0.8% from -1.1% (m / m) July. Similarly, the deadline for payment of the retail control group, the input used to calculate GDP 0% from -1% (m / m).
Atlanta Fed GDPNow: 3Q’21 Growth Forecast (Figure 1) (September 10, 2021)
Growth expectations may further damage and Atlanta Fed GDPNow 3Q’21 growth estimate may fall further below + 4%. According to the latest update, the growth forecast for this quarter has fallen from a peak of + 6.4% in early August to a relatively low + 3.7% in mid-September.
– Written by Christopher Vecchio, CFA, Senior Strategist