A Week in the Market (30.08 - 05.09): Employment Data from the USA and OPEC+
The active summer is nearly over, and a no less active autumn begins. Statistics will be informative, and many events are to come.
USD: eyes on the employment data
As usual at the beginning of the month, the USA will publish statistics on the labor market of the last month. The unemployment rate might have reached 5.2%, the NFP must have grown by about 750 thousand. The better the results, the better for the USD.
EUR: the euro cares a lot about the global situation
This week, Europe is preparing July unemployment statistics (the rate might be at 7.6%, which is good) as well as the Market PMI for August. The EUR is now more sensitive to the events around than to macro data yet if something in the statistics is strong and good for the EUR, it will grow.
Brent: another OPEC+ meeting
At the beginning of September, OPEC+ will have another meeting. It might then make commemts, assessing the global supply and demand of oil. Demand expectations are to be somewhat moderate but OPEC+ will continue increasing production. Neutral assessment will leave a barrel of Brent between 72 and 73 USD.
JPY: the yen is interesting to the market
Japan is preparing the unemployment statistics for July, industrial production data for the same month, the CPI for August, and the PMI in production. The market is now interested in the JPY while the USD is falling, and statistics can give further support.
GBP: the pound needs a catalyst
This week, Great Britain is not going to be much active on the economic calendar: check the housing market data and new credits for physical persons statistics, because these are at least informative. The GBP is stuck in a range and needs a catalyst to escape it.