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Market Trend - New review of events in the upcoming week
Last week, the US dollar strengthened against the majors. The dollar index (#DX) updated local extremes and closed in the positive zone.
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The Fed, as expected, raised the key interest rate range by 25 basis points to 2.00%-2.25%.
The Central Bank published an optimistic forecast of the country’s economic growth for 2018-2019.
The Federal Reserve System Chairman, Jerome Powell, also said that the rejection of identifying the monetary policy as “accommodative” in the communique is not a signal of a change in the current Fed’s course.
Participants in financial markets are expecting a report on the US labor market for September.
In the upcoming trading week, we recommend you to pay attention to the following macroeconomic events and reports.
Monday, October 1st
On Monday, investors will evaluate the following economic reports:
- Tankan large manufacturers index at 02:50 (GMT+3:00);
- The index of economic activity in the manufacturing sector of Germany at 10:55 (GMT+3:00);
- The index of economic activity in the manufacturing sector of the UK at 11:30 (GMT+3:00);
- The index of economic activity in the manufacturing sector of the US from ISM at 17:00 (GMT+3:00).
China’s financial markets will be closed due to the holiday.
Tuesday, October 2nd
On Tuesday, the Reserve Bank of Australia will announce a decision on the key interest rate at 07:30 (GMT+3:00).
At 11:30 (GMT+3:00) investors will assess the statistics on economic activity in the construction sector in the UK.
We also recommend you to pay attention to the speech by the Fed’s head, Powell.
China’s financial markets will be closed due to the holiday.
Wednesday, October 3rd
On Wednesday, the attention of financial market participants will be focused on the following statistics:
- The index of economic activity in the services sector of the UK at 11:30 (GMT+3:00);
- Preliminary data on the US labor market from ADP at 15:15 (GMT+3:00);
- The index of economic activity in the non-manufacturing sector of the US from ISM at 17:00 (GMT+3:00).
China’s financial markets will be closed due to the holiday.
Thursday, October 4th
On Thursday, the news feed will be pretty calm. At 17:00 (GMT+3:00) the index of economic activity in Canada from Ivey will be published.
China’s financial markets will be closed due to the holiday.
Friday, October 5th
On Friday, the trading week will end with the publication of the report on the labor market in the US at 15:30 (GMT+3:00).
We recommend paying attention to the difference between the actual and the forecasted values.
Important statistics:
- Retail sales in Australia at 04:30 (GMT+3:00);
- Employment change in Canada at 15:30 (GMT+3:00).
China’s financial markets will be closed due to the holiday.
