A busy week with important news data ahead
|Important news for the week
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Wed, 04th, 15:45 CET CA Interest rate decision.
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Wed. 04th, 16:00 CET US JOLTS job openings.
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Thu, 05th, 14:15 CET US ADP employment change.
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Fri, 06th 14:30 CET US NFP employment data.
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Fri, 06th 14:30 CET CA Unemployment rate.
Busy week
This week will be of busy nature with several important news events on the horizon. First of all the Bank of Canada might cut interest rates as per the expectation beforehand. However, the CAD is currently quite strong and any signs of weakness might be used to sell the USDCAD or the EURCAD pairs again. The ADP employment change might set some tone for the NFP data on Friday, which itself could also move markets. So several potentially volatile news events might shake up markets this week.
Market talk
The US- Dollar had kept its strength from the past days and might continue to gear up steam during the first days in September. Stock markets continue to look positive and might continue higher. Worth noting that the sentiment in the Eurozone remains bad but also the DAX is able to push higher. Due to the stronger Dollar precious metals continue lower and statements from OPEC might be a reason why oil prices run to the downside. They had stated that they will increase production numbers gradually by 180.000 barrels per day to the figures which had been produced in 2022.
Tendencies in the markets
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Equities sideways, USD stronger, cryptos weak, oil weak, metals weaker, JPY sideways.
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