The week is sure to be a busy one with a number of interest rate decisions coming from Australia, Japan, Canada, EU and the UK, as well as GDP data from Australia and the EU, and then the Nonfarm Payrolls from the US. Check out the details below:
Event: RBA Interest Rate Decision – Australia
Date: September 3, 2013
Time: 4:30am (GMT)
What It Is About and Why It’s Important
While the RBA is not expected to introduce a rate cut this month, it would be useful to see whether or not the RBA maintains its outlook on the economy and the aussie.
Event: ISM Manufacturing PMI (August) – US
Date: September 3, 2013
Time: 2:00pm (GMT)
What It Is About and Why It’s Important
The market still continues to look for economic signs whether or not the US will start QE tapering this month. Thus, it looks at economic data such as the ISM Manufacturing PMI for guidance. Analysts expect it to drop from 55.4 to 54.5.
Event: GDP (QoQ/YoY, Q2) – Australia
Date: September 4, 2013
Time: 1:30am (GMT)
What It Is About and Why It’s Important
Analysts don’t expect any change in Australia’s GDP data with both the QoQ and the YoY seen to remain at 0.6% and 2.5%, respectively.
Event: GDP s.a. (YoY/Q2) – EU
Date: August 29, 2013
Time: 9:00am (GMT)
What It Is About and Why It’s Important
While the EU’s GDP is expected to stay in the negative, analysts expect it to improve slightly from -1.1% to -0.7%.
Event: BoC Interest Rate Decision – Canada
Date: September 4, 2013
Time: 2:00pm (GMT)
What It Is About and Why It’s Important
Canada’s interest rate isn’t expected to change this month, although it’s still important to have an insight on the BoC’s outlook of the economy.
Event: BoJ Interest Rate Decision – Japan
Date: September 5, 2013
Time: 3:00am (GMT)
What It Is About and Why It’s Important
As with the other interest rate announcements this week, Japan’s interest rate is not expected to change for now. But again, be sure to look for signs on how the BoJ sees its economy performing in the near term.
Event: BoE Interest Rate Decision – UK
Date: September 5, 2013
Time: 11:00am (GMT)
What It Is About and Why It’s Important
Last week, Governor Mark Carney reiterated his pledge to keep the country’s interest rates low, and that’s likely what we can expect on Thursday – no change in the rate.
Event: ECB Interest Rate Decision – EU
Date: September 5, 2013
Time: 11:45m (GMT)
What It Is About and Why It’s Important
The EU rounds up this week’s interest rate decisions, although no change is expected from the ECB.
Event: Nonfarm Payrolls (August) – US
Date: September 4, 2013
Time: 2:00pm (GMT)
What It Is About and Why It’s Important
One of the most awaited economic data from the US will come out on Friday. Analysts expect the NFP figures to improve from the previous 162K to 175K.
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