Fed's Jackson Hole symposium has ended already and now investors have to once again focus on hard macroeconomic data. Among key releases next week one can find US PCE data for July, flash CPI data for August from Europe and Canadian Q2 GDP report. Moreover, Nvidia is scheduled to release its fiscal-Q2 2025 earnings report on Wednesday. Be sure to watch EURUSD, US100 and USDCAD in the week ahead!
EURUSD
This week was all about the US dollar, with FOMC minutes, revision of BLS data and Powell's speech at Jackson Hole. Next week, investors will be offered some key reports from Europe. Flash CPI inflation data for August from Spain and Germany will be released on Thursday, while flash data from France will see daylight on Friday. Also on Friday, traders will be offered US PCE print for July. Combination of inflation data from both sides of the Atlantic may ensure volatility on EURUSD in the week ahead.
US100
Wall Street earnings season for Q2 2024 is slowly coming to a close. However, there is one more report that everyone is waiting for, and it will be released next Wednesday after the close of US session - Nvidia earnings for fiscal-Q2 2025 (calendar May - July 2024). Given the size of the company and that it is the main driver of the ongoing AI-craze in the markets, earnings release may have a big impact on sentiment towards the tech sector and be an important driver of US100 moves next week.
USDCAD
While the PCE report for July is a key macro release from the United States next week, investors' will also be offered other macro reports from the world's biggest economy. Those include durable goods orders data for July (Monday), Conference Board index for August (Thursday), revision of Q2 GDP data (Thursday) and revision of University of Michigan data for August (Friday). Those combined with Q2 GDP release from Canada on Friday may keep the USDCAD pair moving next week.
