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The week ahead (18-22 September)

18 Sep 2017 01:36 PM

The new week will see many important economic data and events that will have an impact on market movements in the coming period, most notably the FOMC meeting, the Bank of Japan meeting, and some central bankers' speech.

The highlights of this week's economic calendar are:

Carney speech / UK retail sales figures

Mark Carney, governor of the Bank of England, is due to speak at a central bank meeting hosted by the International Monetary Fund in Washington and is expected to receive questions from attendees. Markets will be looking for any hints emerging about the future of monetary policy in the UK.

Next Wednesday UK Retail Sales data will be released after a 0.3% rise in July for the second straight month, it is expected to rise by 0.2%.

Draghi's speech

Mario Draghi, the ECB's governor, is scheduled to speak twice this week. The first will be in Frankfurt at the annual conference of the European systematic Risk Board and the second will be at Trinity College in Dublin.

The ECB's monthly economic bulletin will also be released. The report will explain the Bank's vision of the current economic situation and price developments and will be more detailed than the statement issued after the interest rate decision.

Australian Reserve Meeting minutes

Earlier on Tuesday, the Reserve Bank of Australia's Reserve Bank of Australia (RBA) minutes will be released after rate decision early this month, at which interest rates will remain unchanged at 1.5%.

US Interest Rate Decision

FOMC will meet this week and the market's attention will be directed to what will come from FED Governor Janet Yellen during the press conference. The federal budget of 4.5$ trillion is expected to be reduced this Wednesday. Also, markets will wait for the FOMC economic projections ahead of the press conference. The biggest focus on the timing of the next rate hike will be in December to complete the third interest rate hike this year as the Fed expected.

Japanese interest rate decision

Early in the morning on Thursday, the Bank of Japan announces the interest rate decision and will be followed by the press conference. It is expected that there will be no change in monetary policy even though the Bank has not succeeded in reaching inflation at 2%.

New Zealand Growth Data / New Zealand Parliamentary Elections

New Zealand's growth data is expected to be released late on Wednesday, with GDP expected to grow by 0.8% in the second quarter of 2017 after growing by 0.5% in the first quarter of the same year. The data comes ahead of parliamentary elections which will be held this weekend on September 23.

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