We are looking into the trading week of September 4-8:
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Investors are currently focusing on China’s economy following recent set-backs seen in domestic sectors, particularly the real estate market.
According to Trading Central's "Economic Insight", China may see Trade Surplus (to be released on Thursday, September 7) is expected to rise to $81.0 billion in August, with Exports falling 10.0% on year and Imports dropping 11.0%.
In the past 11 China Trade Balance Reports, USD/CNH (Offshore Yuan) rose in 55% of times (6 out of 11 reports) within one hour from the report’s release, marking a trading range of 86.36 pips on average.
Other key economic data include:
Monday (September 4)
U.S. and Canada markets to be closed for Labor Day holiday.
Germany Trade Surplus (July) expected at 19.1 billion euros.
Tuesday (September 5)
Australia’s Central Bank expected to keep its key rate unchanged at 4.10%.
China Caixin Services PMI (August) to decline slightly to 54.0.
Eurozone Producer Prices (July) expected to fall 6.8% on year.
U.S. Factory Orders (July) to grow 0.1% on month.
Wednesday (September 6)
Australia GDP (2Q) expected to grow 1.5% on year.
Germany Factory Orders (July) to fall 5.2% on month.
Eurozone Retail sales (July) expected to drop 0.3% on month.
U.S. ISM Services PMI (August) to tick down to 52.4.
Canada’s Central Bank expected to keep key rate unchanged at 5.00%.
Thursday (September 7)
Australia Trade Surplus (August) expected at A$10.5 billion.
China Trade Surplus (August) expected to rise to $81.0 billion.
China Exports (August) to fall 10.0% on year & Imports to drop 11.0%.
Germany Industrial production (July) expected to grow 0.5% on month.
U.S. Initial Jobless Claims (Sep 2) to increase to 239,000.
Canada Building Permits (July) to be released (vs +6.0% on month in June).
Canada Ivey PMI (August) to be released (vs 48.6 in July).
Friday (September 8)
France Industrial production (July) expected to rise 0.5% on month.
Canada Jobless Rate (August) to stay at 5.5%.
Source: Trading Central Economic Insight