Week Ahead:
Key Economic Events for September 23rd
As we look ahead to the week of September 23rd, financial markets will be buzzing with significant economic data releases and central bank activities that could shape market sentiment. This article highlights the key events to watch in the United States and globally, providing traders and investors with insights to navigate the week effectively.
United States:
Focus on Inflation and Economic Indicators
In the U.S., the spotlight will be on several critical economic reports:
– PCE Prices:
The Personal Consumption Expenditures (PCE) price index is expected to show a rise of 0.2% for both headline and core PCE, matching last month’s figures. This data is pivotal as it serves as a key inflation gauge for the Federal Reserve.
– Personal Income and Spending:
Forecasts indicate personal income will increase by 0.4%, slightly up from 0.3% previously, while consumer spending is anticipated to grow at a slower pace of 0.3%.
– GDP Growth:
The final reading of Q2 GDP growth will be released, providing insights into the overall economic performance.
– S&P Global PMI Data:
Traders will keep an eye on the flash PMIs, which are expected to reflect a contraction in the manufacturing sector but a slight easing in services growth.
– Federal Reserve Speeches:
Significant speeches from Federal Reserve officials, including Chair Jerome Powell, will be closely monitored, especially at the upcoming Treasury Market Conference.
Other important indicators include durable goods orders, consumer confidence from the Conference Board, regional PMIs, new and pending home sales, and final Michigan consumer sentiment figures. Additionally, Canada’s monthly GDP figures and mid-month inflation data from Brazil and Mexico will also be of interest.
Europe:
PMI Estimates and Economic Sentiment
Across the Atlantic, Europe will focus on flash PMI estimates for September:
– Manufacturing Sector Trends:
The Eurozone and Germany are expected to report ongoing contractions in manufacturing while services may show slower growth.
– Germany’s Ifo Business Climate:
A decline is anticipated in this index, alongside consumer confidence metrics.
– Inflation Reports:
Preliminary inflation figures from France and Spain will provide further context on price pressures within the region.
– Central Bank Decisions:
Notably, interest rate decisions are expected from central banks in Sweden and Switzerland, with the Swiss National Bank likely lowering rates for a third consecutive meeting.
In the UK, limited data releases are anticipated, including flash estimates for S&P Global PMIs and CBI Industrial Trends Orders.
Asia and Australia:
Key Economic Releases
In Asia, several noteworthy economic data points will emerge:
– China:
A quieter week is expected with industrial profits data for August being released.
– Japan:
Attention will be on flash PMIs for September and minutes from the Bank of Japan’s last policy meeting for insights on potential rate hikes.
– India:
Similar PMI releases will be watched closely.
– Australia:
The Reserve Bank of Australia (RBA) is set to announce its interest rate decision, with expectations to maintain current borrowing costs. Additionally, monthly CPI indicators and flash PMIs will provide vital economic insights.
Conclusion
The week ahead promises to be eventful with critical economic indicators and central bank actions that could influence financial markets significantly. Traders should prepare for potential volatility as they monitor PCE prices in the U.S., PMI data across Europe and Asia, and key interest rate decisions globally. Staying informed about these developments will be crucial for making strategic trading decisions in a dynamic market environment.
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