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
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
CMC Markets is an execution only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
CMC Markets Canada Inc. is a member of the Investment Industry Regulatory Organization of Canada and Member-Canadian Investor Protection Fund / Membre-Fonds canadien de protection des épargnants. CFDs are distributed in Canada by CMC Markets Canada Inc. dealer and agent of CMC Markets UK plc. Trading CFDs and FX involves a high degree of risk and investors should be prepared for the risk of losing their entire investment and losing further amounts. CMC Markets is an execution only dealer and does not provide investment advice or recommendations regarding the purchase or sale of any securities.
CFD and FX trading with CMC Markets is only available in jurisdictions in which CMC is registered or exempt from registration, and in Alberta is available to Accredited Investors only. CMC Markets neither solicits nor accepts business or accounts from residents of the United States of America.
CMC Markets er en ‘execution-only service’ leverandør. Dette materialet (uansett om det uttaler seg om meninger eller ikke) er kun til generell informasjon, og tar ikke hensyn til dine personlige forhold eller mål. Ingenting i dette materialet er (eller bør anses å være) økonomiske, investeringer eller andre råd som avhengighet bør plasseres på. Ingen mening gitt i materialet utgjør en anbefaling fra CMC Markets eller forfatteren om at en bestemt investering, sikkerhet, transaksjon eller investeringsstrategi. Denne informasjonen er ikke utarbeidet i samsvar med regelverket for investeringsanalyser. Selv om vi ikke uttrykkelig er forhindret fra å opptre før vi har gitt dette innholdet, prøver vi ikke å dra nytte av det før det blir formidlet.