It’s a big week for trading in the UK that could spark significant activity in GBP pairs and the UK 100. The week kicks off with an expected vote on the UK Brexit EU repeal bill, which could be a significant turning point in the Brexit process. In recent weeks, GBP has been gaining at the expense of EUR as the UK has held firm in negotiations.

UK markets may remain active through the week with UK inflation and employment reports leading up to Thursday’s Bank of England meeting. The data may indicate how much pressure (or not) Governor Carney is under to start cutting back on stimulus.

US data this week may also attract attention from traders particularly with the Fed in its pre-meeting blackout period. Last week’s short term government funding and hurricane aid deal between President Trump and the Democrats, plus the pending departure of FOMC Vice Chair Fischer have opened a window for the Fed to make a move in September so this week’s US data, particularly inflation and retail sales reports, could impact trading in USD and US stocks. Announcing the start of balance sheet normalization looks more likely than another rate hike at this point.

It’s a light week for earnings reports, but Apple’s latest iPhone launch event could attract attention to technology stocks. The recovery from Hurricanes Harvey and Irma may influence energy trading through the week. 

 

Economic/Political news (North America time):

Monday evening          UK House of Commons vote on Brexit Repeal bill expected

Tuesday                       UK inflation

                                    United Nations General Assembly starts

Wednesday                 UK employment

                                    Canada house prices

                                    US producer prices

                                    EU Juncker State of the EU speech

Wednesday evening    China retail sales, industrial production

                                     Australia employment

                                    Japan industrial production

Thursday                     Bank of England meeting no change expected

                                    SNB meeting no change expected

                                   US consumer prices

                                   Canada new house prices

Thursday evening        NZ Business PMI

Friday                          US retail sales, Empire manufacturing, industrial production, consumer sentiment

 

Earnings Reports and Corporate Events:

Tuesday                       Apple iPhone 8 launch event

Thursday                     Oracle

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