Investor attention this week shall be focused on the ECB’s interest rate decision and Christine Lagarde’s press conference, key U.S. inflation data (CPI and PPI), GDP figures from the Eurozone, Japan, and the U.K., and OPEC’s Monthly Oil Market Report.
Canada and the United States
Market holiday: Labor Day (Stock exchanges shall be closed).
Eurozone
GDP (QoQ) (Q2). Forecast: 0.4% | Previous figure: -0.2% | Actual figure: 0.6%
GDP (YoY) (Q2). Forecast: 1.0% | Previous figure: 0.3% | Actual figure: 0.5%
Japan
2:50 a.m. GMT: GDP (QoQ) (Q2). Forecast: 0.5% | Previous figure: 0.3%
Germany
9:00 a.m. GMT: Trade Balance (July). Forecast: 15.4B | Previous figure: 16.5B
China
4:30 a.m. GMT: Consumer Price Index (CPI) (MoM) (August). Previous figure: -0.1%
4:30 a.m. GMT: Producer Price Index (PPI) (YoY) (August). Forecast: 3.5% | Previous figure: 3.6%
Eurozone
8:00 p.m. GMT: Speech by ECB President Christine Lagarde
Germany
9:00 a.m. GMT: Consumer Price Index (CPI) (MoM) (August). Forecast: 0.2% | Previous figure: 0.2%
United States
1:00 p.m. GMT: OPEC Monthly Oil Market Report
3:30 p.m. GMT: Producer Price Index (PPI) (MoM) (August). Forecast: 0.0% | Previous figure: 0.4%
3:30 p.m. GMT: Initial Jobless Claims. Forecast: 206K | Previous figure: 205K
5:00 p.m. GMT: Existing Home Sales (August). Forecast: 4.06M | Previous figure: 3.98M
7:00 p.m. GMT: EIA Crude Oil Inventories. Previous figure: -4.450M
Eurozone
3:15 p.m. GMT 🔥: Interest Rate Decision (September). Forecast: 2.40% | Previous figure: 2.65%
3:45 p.m. GMT 🔥: ECB Press Conference
UK
9:00 a.m. GMT: GDP (MoM) (July). Forecast: 0.3% | Previous: 0.0%
United States
3:30 p.m. GMT 🔥: Consumer Price Index (CPI) (MoM) (August). Forecast: 0.1% | Previous: 0.4%
3:30 p.m. GMT 🔥: Core Consumer Price Index (CPI) (MoM) (August). Forecast: 0.2% | Previous: 0.2% 💡
ECB rate decision and US inflation (Thursday – Friday). These are the biggest volatility triggers of the week. An ECB rate cut coupled with the latest US inflation data will instantly shake up EUR/USD and major currency pairs. Make sure to avoid trading right before the news release. Just wait for the initial momentum and trade the key technical levels instead.
Keep a close eye on Crude Oil (Thursday). The OPEC report and crude oil inventory data will drive directional moves in Brent and WTI amid ongoing geopolitical instability.
Use the chart as your main compass. The fundamental backdrop creates momentum; however, technical analysis is what actually defines your entry point. Manage your risks and follow strict money management rules religiously.
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