- FOMC decision on Wednesday is the highlight this week
- NFP report crucial for USD, Gold
- Bank of England could hint at rate hike on Thursday
This will be a very eventful week on the markets. As US earnings season winds down, we will have critical economic reports but this all could be overshadowed by central bank decisions, especially the Fed. Here’s the look at the whole week:
Monday:
ISM manufacturing index in the US (2 pm GMT) – after a very strong Chicago PMI reading on Friday we can expect another strong ISM but focus will be on prices
Final manufacturing PMI prints in Europe
Tuesday:
RBA decision (3:30am) – interesting after recent sharp bond yield increases. Will the Bank drop its YCC policies?
Q3 labour market data in New Zealand (9:45pm GMT)
earnings: Pfizer, ConocoPhillips
Wednesday:
FOMC decision (6 pm) and conference (6:30) – bond purchase program will be reduced but what will Powell say about rates? Are hikes possible for 2022? This will be the key event for the markets this week!
ADP report (1:15pm) and ISM services (3pm) reports in the US – the final glimpse of employment and economic activity data ahead of the Fed decision
Final services PMIs in Europe
earnings: EA, Qualcomm
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThursday:
Bank of England decision (12am) – there have been voices that the Bank looks forward to interest rate hike – will the decision help GBP?
earnings: Citrix, GoPro
Friday:
NFP report in the US (12:30am) – after 2 disappointing months a moderate employment gain (380k) is expected but the focus will be also on unemployment rate and wages. Yes, we will be after the FOMC decision but assuming Powell rejects an idea of 2022 rate hike, strong NFP reading would quickly have it back on the table
NFP report in Canada (12:30am)
Massive overliquidity helped fuel stock market rally. Even if the Fed tapers QE this week, this liquidity will stay here for a while. Source: Fred
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
