Spread betting – the week ahead in forex, equities, indices & commodities

The Bank of England is the star attraction in the week commencing September 12th, as investors' attention remains fixed on how the Brexit vote has impacted the UK economy. A slew of upbeat data – notably some impressive PMI readings for August – indicate that Britain’s economy remains in decent shape and the fallout has so far not been as bad as some expected.

In part that seems to be down to the Bank’s decision to commit to fresh easing at its August meeting, when it relaunched its quantitative easing programme and cut interest rates to a record low. Forecasters think it unlikely the Bank will take any further drastic measures when it meets this week and will be keen to keep its powder dry if the outlook deteriorates in the coming months.

Sticking in the UK, traders will be looking at CPI inflation out on Tuesday, employment data on Wednesday and retail sales figures on Thursday.

US markets are looking ahead to a deluge of data later in the week. Thursday sees the release of retail sales, producer price inflation and unemployment claims data, as well as the monthly Philly Fed manufacturing index and Empire State manufacturing index.

In Europe, CPI inflation data for the Eurozone due out on Thursday is likely to be the most important piece of macro data for traders. Company releases are thin on the ground, but look out for Oracle and Galliford Try.

Economic Calendar

(All times are BST)

Monday, September 12th

12:50 – Japan Core Machinery Orders

Tuesday, September 13th

03:00 – China Industrial Production

09:30 – UK CPI inflation data

10:00 – German ZEW Economic Sentiment

Wednesday, September 14th

09:30 – UK unemployment change, average earnings

Tentative – UK inflation report hearings

15:30 – US crude oil inventories

Thursday, September 15th

All day – China bank holiday

02:30 – Australian unemployment rate

08:30 – Swiss National Bank interest rate & monetary policy decision

09:30 – UK retail sales

10:00 – Eurozone CPI inflation

12:00 – Bank of England interest rate & monetary policy decision

13:30 – US retail sales, producer price inflation, unemployment claims data, Philly Fed manufacturing index, Empire State manufacturing index

Friday, September 16th

All day – China bank holiday

13:30 – Canada manufacturing sales

13:30 – US CPI inflation, preliminary University of Michigan consumer sentiment

Earnings Calendar

 

Monday, September 12th

UK – Hotel Chocolat (HOTC) – Y/2016, EPS estimate 0.50

US – Manchester United (MANU) – Q4/2016, EPS estimate 0.044

Wednesday, September 14th

UK – Galliford Try (GFRD) – Y/2016, EPS estimate 1.289

Thursday, September 15th

US – Oracle (ORCL) – Q1/2017, EPS estimate 0.580

Friday, September 16th

Wm Morrison Supermarkets (MRW) – S1/2017, EPS estimate 0.046

Source: Bloomberg