If it does hold flat as expected it should not cause too much market volatility .If it does drop it will cause GBP weakness as it will become less attractive to foreign investors and the opposite if it risen.
EU
Day
Data Print
What is it?
Prev + Consensus
Market Impact
Wednesday 4th
Harmonized Index of consumer prices
This measures changes in the prices of a representative basket of goods and services in the European Monetary Union
Prev – 1.9% Consensus – 1.7%
This is considered to be bad for the Euro as it can signal falling inflation which can stifle economic growth in the EU.
Thursday 5th
Retail Sales
Measures the changes in the total value of goods sold at the retail level. Leading indicator of consumer spending
A high reading is typically seem as bullish for the Euro as it is a main driver of the EU economy and people are spending money in the EU
Thursday 5th
Interest Rate Decision
Key outlook on the UK economy
Prev 2.15% Consensus 2.15%
If it does hold flat as expected it should not cause too much market volatility .If it does rise it will be bullish for the euro as it will attract more foreign investors and encourages saving.
USD
Day
Data Print
What is it?
Prev + Consensus
Market Impact
Monday 2nd
ISM Manufacturing PMI
This is a leading indicator gauging business activity in the US manufacturing sector.
Prev – 47.9 Consensus 48.3
This will cause marginal USD strength as they are still not at the target of 50 but are getting closer to which is seen as a positive foe the US economy.
Wednesday 4th
ADP Employment Change
The ADP Employment Change is a gauge of employment in the private sector released by the largest payroll processor in the US It measures the change in the number of people privately employed in the US.
Prev – 41k Consensus 40k
A high reading is typically seen as bullish for the USD so id it does drop albeit marginal is could cause weakness as consumer spending may slow and therefore stimulate economic growth.
Wednesday 4th
ISM Services PMI
This is a leading indicator gauging business activity in the US services sector, which makes up most of the economy
Prev – 54.4 Consensus – 53.8
Even though the Consensus is expected to drop I would not expect too much volatility as the reading is still above the target of 50 which signals a healthy services economy.
Friday 6th
Non-farm payroll
This presents the number of new jobs created in the US during the previous month in all non-agricultural businesses
Prev – 50k Consensus – 70k
This will be bullish for the USD as it there are more jobs being created which will lead to an increase in consumer spending and boost the economy.
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