Mario Blascak, PhD
Independent Analyst
What you need to know before markets open
Main themes:
- The UK Prime Minister Theresa May is said to reject Barnier improved Irish Brexit offer
- The UK inflation accelerated unexpectedly to 2.7% y/y with core inflation rising 2.1% y/y in August boosting Sterling to a fresh 7-week high of 1.3215.
- The Uk retail sales are seen falling -0.2% m/m on the total as well as the core basis in August. For more details read my Preview here.
- New Zealand Dollar surged after the Q2 GDP surprised on the upside rising 1.0% Q/Q and 2.8% y/y.
Switzerland
- The Bank of Switzerland is expected to keep the monetary policy unchanged in September largely turning to a non-event.
Europe
- The Eurozone consumer confidence is expected to fall to -2.0 in September.
- German Bundesbank President Jens Weidmann is scheduled to deliver a speech titled "Perspectives for Europe and the euro area" at the Center for European Politics, in Freiburg at 15:15 GMT.
UK
- The UK Prime Minister Theresa May is leaving for the unofficial Brexit summit with European leaders in Salzburg, Austria.
- The total UK retail sales are expected to fall -0.2% m/m in August with core retail sales stripping the basket off motor fuel sales falling also -0.2% m/m. For more details read my Preview here and learn how to trade it with GBP/USD here.
US
- The US housing starts rose strong 9.2% m/m in August while building permits decreased -5.7% m/m in the same month.
- The US initial jobless claims are expected to increase to 210K in the week ending September 14.
- Philadelphia Fed index is expected to increase to 17.0 in September from 11.9 in August.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
AUD/USD pressures as Fed officials hold firm on rate policy
The Australian Dollar is on the defensive against the US Dollar, as Friday’s Asian session commences. On Thursday, the antipodean clocked losses of 0.21% against its counterpart, driven by Fed officials emphasizing they’re in no rush to ease policy. The AUD/USD trades around 0.6419.
EUR/USD extends its downside below 1.0650 on hawkish Fed remarks
The EUR/USD extends its downside around 1.0640 after retreating from weekly peaks of 1.0690 on Friday during the early Asian session. The hawkish comments from Federal Reserve officials provide some support to the US Dollar.
Gold price edges higher on risk-off mood hawkish Fed signals
Gold prices advanced late in the North American session on Thursday, underpinned by heightened geopolitical risks involving Iran and Israel. Federal Reserve officials delivered hawkish messages, triggering a jump in US Treasury yields, which boosted the Greenback.
Runes likely to have massive support after BRC-20 and Ordinals frenzy
With all eyes peeled on the halving, Bitcoin is the center of attention in the market. The pioneer cryptocurrency has had three narratives this year already, starting with the spot BTC exchange-traded funds, the recent all-time high of $73,777, and now the halving.
Billowing clouds of apprehension
Thursday marked the fifth consecutive session of decline for US stocks as optimism regarding multiple interest rate cuts by the Federal Reserve waned. The downturn in sentiment can be attributed to robust economic data releases, prompting traders to adjust their expectations for multiple rate cuts this year.