A potentially big week for USD is looming as Fed Chair Powell may use Jackson Hole speech to announce rate cut cycle. Apart from that, traders will be offered minutes from FOMC and ECB, rate decision from CBRt and flash PMI data for August, among others. Be sure to watch USDCAD, DE40 and EURTRY in the week ahead!
USDCAD
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Open account Try demo Download mobile app Download mobile appUSDCAD is one of the currency pairs that may see bigger moves next week. Traders will be offered Canadian CPI reading for July on Tuesday, 1:30 pm BST as well as FOMC minutes on Wednesday, 7:00 pm BST. However, the most important event of the week will be on Friday - Powell will speak at Jackson Hole symposium. Fed Chair may use the event to offer some hints on the upcoming easing cycle.
DE40
Release of flash PMI data for August is a key macro event in Europe next week. Economist expect no major changes in August, with European services sector remaining in expansion and manufacturing sector remaining in contraction. Reports from France and Germany on Thursday at 8:15 am and 8:30 am BST, respectively, will be the most closely watched ones. Data may help determine the future of the ongoing upward correction on DE40 and other European indices.
EURTRY
While flash PMI data is important, it is not the only macro release from Europe next week. Investors will be offered final Euro Area CPI data for July on Tuesday, 10:00 am BST and ECB minutes on Thursday, 12:30 pm BST. Additional volatility may be seen on EURTRY pair as Central Bank of Republic of Turkey is scheduled to announce rate decision on Tuesday, 12:00 pm BST.
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