What to Look out for Today 2017.08.07 – This Week’s Economic Events

Last week was marked the EU GDP that met expectations at 0.6% (and increase over the previous 0.5%), the BoE’s interest rate decision which kept rates at 0.25% as expected – but statements indicated towards a rate increase in last quarter of 2017 and of course the highly anticipated Nonfarm payroll that surpassed expectations set at 183,000 reaching 209,000.

Even so, the on-going investigation into Russia – Trump advisors alleged interference with the 2016 presidential race, might make investors dollar-skittish. You would never get that from US stocks though as the Dow hit a record level high of Friday, after reacting to the single digit unemployment rate of 4.3% and to Wage growth data.

This week’s economic calendar seems light regarding USD relevant events:

August 9th
UK – Inflation Report Hearings
New Zealand – Monetary Policy Statement
New Zealand – Interest Rate Decision
New Zealand – Press Conference

August 11th
US – Consumer Price Index (YoY)
US – Consumer Price Index Ex Food and Energy (YoY)

As you can see this week will be relatively quiet economic calendar wise, but this doesn’t mean that fundamental data won’t affect markets – any news out of the ongoing Brexit negotiations could either bolster or startle sterling traders, the ongoing Russia/Trump Administration saga could do the same to the dollar and US stock depending on what type of info is leaked/released or announced.

This article comprises the personal view and opinion of the STO Investment Research Desk and at no time should be construed as Investment Advice.

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