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Weekly News 09.09–13.09.2019

Introducing the most complete review of the upcoming week from analysts Olymp Trade


    Important reports on the economic development of the US and UK come out this week. The ECB takes its interest rate decision. A reshuffle is expected to take place in the political elites of Japan, and MPs are sent on extra holiday in London. Markets are waiting for the results of the antitrust investigation into Google, and a new Apple product release.

     

    September 9. UK manufacturing. Investigation against Google

    At 08:30 GMT, the UK releases July data on the country’s manufacturing. The forecast says there will be a 0.1% decline but it has been negative only once over the last two quarters. The UK industry might still resist the analysts’ pessimism.


    The general statement regarding the Google probe is to be made on Monday by U.S. antitrust authorities. The investigation is launched over possible antitrust violations, which the company has been previously accused of in several European countries.

     

    September 10. JOLTS. A new iPhone

    At 14:00 GMT, US releases the July data on JOLTS. We remind you that the reading in June was 7.348 million positions.

    Psychologically, any data above 7 million will be taken positively by the market. However, a sharp decline in the indicator will hint at the beginning of a negative trend in the labor market.


    Apple’s regular product release will be held in the Steve Jobs Theater in Cupertino. Apple enthusiasts will be happy to see newest iPhones, and Apple Watch. The motto of the event is “By innovation only”.

     

    September 11. US PPI. Changes in the Japanese ruling party

    US producer price index (PPI) comes out at 12:30 GMT. Experts expect this important indicator to grow by 0.1%. The inflation has been stagnant above zero over the past six months, but if the trend reverses, investors’ reactions could be extremely negative for US assets.


    A reshuffle is expected to take place in the ruling Liberal Democratic Party of Japan. This was announced by Prime Minister Shinzo Abe last week. A new Foreign Minister is likely to be appointed, and Taro Aso is likely to keep his portfolio as a Finance Minister.

     

    September 12. ECB interest rate. MPs forced holiday

    At 11:45 GMT, the European Central Bank is to decide on the interest rate. Now it is at zero level, and experts do not expect any changes.

    Of course, the market is confident about the future rate cuts, but they are unlikely to take place in September, according to the latest statements made by ECB officials.


    The British Prime Minister Boris Johnson forced the British Parliament to go on another holiday. However, British MPs had managed to approve a bill that blocks a no-deal Brexit before the parliament was prorogued by the end of October.

     

    September 13. US retail sales

    At 12:30 GMT, the US releases its August data on retail sales. Analysts expect an increase of 0.3%, which is quite realistic, as soon as the dynamics of sales have exceeded this value over the last three months.

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