• Home
• /
• Newsroom
• /
• The Week Ahead: 1st – 5th August 2022

The Week Ahead: 1st – 5th August 2022

Overview for the Week Ahead

Oil prices dropped on Monday, as weak manufacturing data from China and Japan for July weighed on the outlook for demand, while investors braced for this week’s meeting of officials from OPEC and other top producers on supply adjustments.

August begins with investors looking to build on gains following the best month for U.S. equity markets since late 2020.

In the week ahead, the July jobs report and a continued flood of corporate results will remain top of mind for investors.

Elsewhere on the economic calendar, investors will digest ISM manufacturing data, job openings data, and durable goods orders, among other reports. Federal Reserve Bank presidents Charles Evans, James Bullard, and Loretta Mester are also scheduled to give speeches this week as the central bank rolls out of its blackout period after last week’s policy-setting meeting.

The Bank of England is widely expected to hike rates by half a percentage point at its meeting on Thursday, which would be its largest hike since 1995.

Only three BoE officials voted in favour of a 0.5% rate hike at the bank’s last two meetings, but data since then has shown inflation hitting a four-decade high of 9.4%. It could hit 12% by October – six times the BoE target.

Governor Andrew Bailey has pledged to act forcefully if needed to get inflation down.

Elsewhere, the Reserve Bank of Australia is expected to hike rates by 0.5% at its upcoming meeting on Tuesday with inflation Down Under running at 6.1%, more than double the RBA’s 2-3% target.

Have your trading charts ready!

This Week’s High Impact Events

The times below are GMT +3.

Monday 1^st August

• 17.00 – US – ISM Manufacturing PMI

Potential instruments to Trade: USD Crosses. 

Tuesday 2^nd August

• 07.30 – Australia – Cash Rate & RBA Rate Statement

Potential instruments to Trade: AUD Crosses. 

• 17.00 – US – JOLTS Job Openings

Potential instruments to Trade: USD Crosses. 

Wednesday 3^rd August

• 01.45 – New Zealand – Employment Change q/q

Potential instruments to Trade: NZD Crosses. 

• 01.45 – US – FOMC Member Bullard Speaks

Potential instruments to Trade: USD Crosses. 

• 09.30 – Switzerland – CPI m/m

Potential instruments to Trade: CHF Crosses. 

• 10.15 – Europe – Spanish Services PMI

Potential instruments to Trade: EUR Crosses. 

• 17.00 – US – ISM Services PMI

Potential instruments to Trade: USD Crosses. 

Thursday 4^th August

• 14.00 – UK – BOE Monetary Policy Report, MPC Official Bank Rate Votes, Monetary Policy Summary, & Official Bank Rate

Potential instruments to Trade: GBP Crosses. 

• 14.30 – UK – BOE Gov. Bailey Speaks

Potential instruments to Trade: GBP Crosses. 

Friday 5^th August

• 04.30 – Australia – RBA Monetary Policy Statement

Potential instruments to Trade: AUD Crosses. 

• 14.15 – UK – MPC Member Pill Speaks

Potential instruments to Trade: GBP Crosses. 

• 15.30 – Canada – Employment Change, & Unemployment Rate

Potential instruments to Trade: CAD Crosses. 

• 15.30 – US – Average Hourly Earnings m/m, Non-Farm Employment Change, & Unemployment Rate

Potential instruments to Trade: USD Crosses. 

• 17.00 – Canada – Ivey PMI

Potential instruments to Trade: CAD Crosses. 

For more information – https://errante.io/economic-calendar/

If you have any questions, please email our Education Centre.

If you have any questions or require any assistance, please contact one of our support team members via our Live Chat or email [email protected].

We are Errante. Trading made personal.

Errante is regulated by the Seychelles Financial Services Authority (FSA) under license number [SD038].

To find out more about Errante, visit https://errante.io/.

• Share with a Friend