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A new week of August will bring us a lot of statistics from different countries, confirmation of trends in interest rates, and possibly news for the commodity market.
GBP: employment market statistics
Great Britain will provide some information that will make it clear what is going on in the economic system, namely – in the employment market. Last month, the unemployment rate might have remained without a change at 3.8%, average wage in May-July might grown by 4.7%. Earlier, this index grew by 6.2%. The stronger the statistics turn out, the calmer the GBP will be.
NZD: regulator is to decide
The Reserve bank of New Zealand will have a meeting and decide upon the interest rate. It is expected to grow from 2.5% to 3%. These forecasts are already included in the quotes of the national currency. Toughening of the monetary policy is for now good for the NZD rate.
EUR: neutral statistics will calm it down
The Euro zone will issue a lot of interesting statistics. New GDP estimation for Q2 must be the most important info. Economy might have grown by 0.7% as predicted. Any deviations from this level will be fast accounted for by the EUR. Inflation in July in Europe might have remained at 8.9% y/y. If nothing unexpected happens here, investors will just skip the report.
USD: retail sales results will be demonstrative
The US will present a lot of statistics of the retail sales market: there might be some falls due to the growing inflation and crediting interests. Note the retail sales report for July: the index might have grown by 0.2% m/m, while in June it grew by 1%. Strong statistics are a good signal for the USD.
Brent: Saudi Aramco will set the trend
No important events are expected in the oil market. However, fresh news that the world’s largest oil company Saudi Aramco is planning to increase production might put pressure on the quotes.
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Image and article originally from blog.roboforex.com. Read the original article here.