The EUR kept losing ground as the week passed with reports of the council not having a final decision on its plans for tapering quantitate easing. The lack of communication has allowed the USD to appreciate versus the single currency ahead of its September monetary policy meeting. The European Central Bank (ECB) will publish its benchmark rate on Thursday, September 7 at 11:45am (GMT). ECB President Mario Draghi will offer a press conference at 12:30pm (GMT). There is a sense of urgency as the ECB Governing council will hold its first formal talk on the subject leaving just two meetings before the end of the year.
Below is the list of the events that will affect the markets on the coming week:
(All times are GMT)
On Monday, at 8:30am Markit will provide Great Britain’s Construction PMI.
On Tuesday, at 4:30am, Reserve Bank of Australia anounces Cash Rate – short term interest rates. Reserve Bank of Australia Rate Statement will follow.
At 8:30am information about Services PMI from Great Britain will be released by Markit.
At 9:10am RBA Governor Philip Lowe speaks at the Reserve Bank Board Dinner, in Brisbane.
On Wednesday, at 1:30am Australian Bureau of Statistics will publish quarterly GDP data.
At 12:30pm, Trade Balance from Statistics Canada will be provided.
At 2:00pm Bank of Canada will release Overnight Rate and Rate Statement.
At 2:00pm The Institute for Supply Management (ISM) will release the ISM Manufacturing PMI for US.
On Thursday, at 1:30am Australian Bureau of Statistics will release monthly Retail Sales.
At 1:30am Australian Bureau of Statistics will publish monthly Trade Balance.
At 11:45pm European Central Bank will announce Minimum Bid Rate.
At 12:30pm ECB President and Vice President will give their vision of future monetary policy at ECB Press Conference.
At 12:30pm numbers of US Unemployment Claims are expected from Department of Labor.
At 3:00pm Energy Information Administration will publish Crude Oil Inventories. Market volatility and exchange rates for many currencies depend on oil prices.
On Friday, at 9:10am RBA Governor Philip Lowe delivers brief remarks at the Bank of China Sydney Branch’s 75th Anniversary Celebration Dinner.
At 8:30am Great Britain Office for National Statistics will announce monthly data of Manufacturing Production.
At 12:30pm, data from Statistics Canada will be provided: Employment Change and Unemployment Rate.
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