A Week in the Market (13.09 - 19.09): Statistics and Oil
At the new week of September, market attention will be focuses on a flow of statistics from the USA, China, and Great Britain — and on news about the demand for energy carriers. This will be curious.
Central banks: meetings go on
This week, meetings will be held by the Central banks of Egypt and Mozambique. The main thing that market players expect is that the monetary structure and financial policy will remain without changes. The calmer the statements, the better for the whole range of risky assets.
Brent: all eyes on demand statistics
The new week of September will bring us a report on black oil by the IEA and an almost identical release by the US Ministry of Energy. Brent prices will react on any details concerning the global need in energy carriers — this might be due to the specifica of the pandemic times. The more neutral the data, the stabler oil prices.
China: statistics will support risky assets
This week, China publishes retail sales and industrial production data. In retail sales, growth by 7% y/y is expected, and in industrial production — by 5.8%. In both cases, strong reports will be able to support global interest towards risky assets.
USD: retail sales data might be disappointing
The USA this week will present retail sales statistics in August, apart from inflation data. The forecast suggests that the indicator might have fallen by 0.8% m/m, which would be seriously disappointing for the USD.
GBP: focus on employment statistics
Great Britain is preparing to publish employment statistics for August and three months before it. The unemployment rate in July might have dropped to 4.6% from 4.7%, which is good, and the average earning over three months ending in July might have grown by 8.2% after growing by 8.8% previously. The stronger the reports on the employment sector, the more support may get the GBP.