This week features a number of important reports and announcements from the EU, Australia, Japan, China and Canada. Let us look at the details of some of these events for the week of August 5-9:
Event: RBA Interest Rate Decision – Australia
Date: August 6, 2013
Time: 4:30am (GMT)
What It Is About and Why It’s Important
The aussie has struggled over the past few weeks due to a combination of a weak domestic economy, weak economic data from China, and a strong greenback. All these point to a 25bps rate cut, according to analysts. We shall see on Tuesday whether the RBA would indeed cut rates or not.
Event: BoE Quarterly Inflation Report – UK
Date: August 7, 2013
Time: 9:30am (GMT)
What It Is About and Why It’s Important
The BoE’s report provides traders with insights on the Monetary Policy Committee’s analysis on the economy and projection on inflation—important tools for assessing the cable’s possible performance in the coming months.
Event: Unemployment Rate (July) – Australia
Date: August 8, 2013
Time: 1:30am (GMT)
What It Is About and Why It’s Important
Australia’s unemployment rate is currently on the rise, from May’s 5.5% (revised from 5.6%) to 5.7% in June. Analysts expect it to rise further to 5.8% in July.
Event: BoJ Rate Decision – Japan
Date: August 8, 2013
Time: 3:00am (GMT)
What It Is About and Why It’s Important
While the BoJ is expected to keep rates at 0.1%, the Monetary Policy Statement that follows should be closely watched by traders of the JPY.
Event: ECB Monthly Report – EU
Date: August 8, 2013
Time: 8:00am (GMT)
What It Is About and Why It’s Important
The report gives traders an insight on the European Central Bank’s outlook on the European economy. A bullish outlook is seen as a positive sign for the EU’s economy, while the opposite is true if the ECB shows a bearish outlook.
Event: CPI (MoM, Jul) – China
Date: August 9, 2013
Time: 1:30am (GMT)
What It Is About and Why It’s Important
Traders of the aussie should definitely keep track of China’s CPI, since the economies of China and Australia are closely tied together. A high reading should be positive for the Chinese economy and Australia’s, while the opposite is true if the Chinese CPI drops below 0% again.
Event: Unemployment Rate/Net Change in Employment (July) – Canada
Date: August 9, 2013
Time: 12:30pm (GMT)
What It Is About and Why It’s Important
Canada’s unemployment rate hasn’t dropped below 7% since 2009. We shall see on Friday whether or not there will be a positive change in the country’s unemployment situation.
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