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New forex week is here – what’s on the horizon

Now that the foreign exchange trading week has kicked off again, it’s a good time to share an overview of what’s scheduled on the economic calendar.

Today (Monday) looks set to be a very quiet day, with just the German Bundesbank releasing its monthly report at 10am GMT.

Tomorrow (Tuesday) will begin with a German producer price index covering the month of July at 6am GMT.

European construction output figures for June will be out at 9am GMT. Month on month, these were last recorded at -0.27%.

Manufacturing shipments data for June will be out at 12.30pm GMT. Month on month, this is expected to show a change from 1.6% to -1.7%.

A speech from Randal Keith Quarles, who is Vice Chair for Supervision at the US Federal Reserve’s Board of Governors, will take place at 10pm GMT.

Looking ahead to Wednesday, the Bank of Canada will release its core consumer price index for July at 12.30pm GMT. This was last recorded year on year at 2%.

US existing home sales data for July will be out at 2pm GMT. Month on month, this is expected to change from -1.7% to 2.5%.

The meeting minutes of the Federal Open Market Committee will be out at 6pm GMT in the US.

The preliminary Commonwealth Bank services purchasing managers’ index for August will be out of Australia at 10pm GMT. This was last recorded at 52.3.

Looking ahead to Thursday, the Jackson Hole Symposium, which brings together central bankers and other major financial professionals, will take place in the US.

Preliminary Markit manufacturing PMI data for Germany will be out of the US at 7.30am GMT, covering August. This is expected to show a change from 43.2 to 43.1.

Preliminary Europe-wide figures will be out at 8am GMT. This is expected to show a change from 46.5 to 46.2.

The minutes of the European Central Bank’s most recent monetary policy meeting will be out at 11.30am GMT.

The usual round of jobless claims from the US will be out at 12.30pm GMT. Continuing claims for the dates around August 9th will be out first. These were last recorded at 1,726,000. Initial claims for the dates around August 16th will be published at the same time. These are expected to show a slight decline from 220,000 to 216,000.

Canadian wholesale sales data for June will be out at 12.30pm GMT. Month on month, this is expected to show a shift from -1.8% to +0.4%.

Preliminary consumer confidence data for August for the whole of Europe will be out at 2pm GMT. This is expected to show a change from -6.6 to -7.

On Friday, new home sales information for July will be out at 2pm GMT. This is expected to show a slight month on month change from 646,000 to 647,000.

The weekend will see a number of opportunities for financial headlines to be created. The Jackson Hole Symposium will continue into the weekend, while the G7 meeting of leaders from major economies will take place too.

Risk Statement: Trading Foreign Exchange on margin carries a high level of risk and may not be suitable for all investors. The possibility exists that you could lose more than your initial deposit. The high degree of leverage can work against you as well as for you.


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