It is another potentially pivotal week ahead for investors, with interest rate decisions from some of the most influential central banks in the world, including the much-anticipated Federal Reserve rate call.
In addition to the central bank updates, there are also key macroeconomic data events scheduled across various jurisdictions, with crucial inflation numbers featuring heavily.
Here is our usual day-by-day breakdown of the major risk events this week:
It should be a bright start to the trading week with significant data releases across all three major trading sessions. Focus will be on Chinese markets during the Asian session, with key Industrial Production and Retail Sales data due out midway through the day. A raft of Flash Manufacturing and Services PMI numbers will be released across all sessions, with data coming from Australia, France, Germany, the EU, the UK, and the US. Key central bank speakers will also feature, including ECB President Christine Lagarde and Bank of Canada Governor Tiff Macklem.
There is little scheduled during the Asian session on Tuesday. However, the early focus in Europe will be on UK markets, with the latest employment numbers due out. This will be followed later in the day by the German IFO and ZEW survey results. The New York session looks set for a busy start, with both Canadian CPI figures and US Retail Sales data due early in the day.
Wednesday is potentially the biggest day of the week but will start relatively subdued, with little activity on the Asian calendar. More UK data is expected once Europe opens, including key CPI figures. Later, in the New York session, all eyes will be on the FOMC Federal Funds rate announcement, followed by the accompanying statement and press conference, which are likely to generate significant market reactions.
The Asian session will see its busiest day of the week on Thursday, starting with New Zealand GDP numbers early in the day. Focus will then shift to Japan, where the Bank of Japan’s rate decision is due. In Europe, attention will turn to the UK at the London open, with the Bank of England set to announce its Official Bank Rate update midway through the day. The New York session will bring further US data, including Final GDP figures, Weekly Unemployment Claims, and the Philly Fed Manufacturing Index, all of which are scheduled to be released simultaneously.
Friday offers a packed schedule to close out the week. Chinese markets will again be in focus during the Asian session with the key Loan Prime Rates updates scheduled. In Europe, another UK data release is expected, with Retail Sales figures due early in the session. Later, the US session will feature Canadian Retail Sales and US Core PCE data, both expected to move markets shortly after the open.
