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

UK markets get off to a fast start this week with the monthly services purchasing managers’ index (PMI) for August due out at 09:30 on Monday. Services are a key driver of the British economy and this data will be seen as a key test of whether the Brexit vote has delivered a lasting shock to business confidence. The last PMI for July fell from 52.3 to 47.4, the steepest decline on record.

Further data on manufacturing production, retail sales and house prices will also be closely followed for any signs of Brexit damage.

US and Canadian markets are closed on Monday for the Labor Day holiday, so trading may remain fairly thin that day. 

Central banks are back in action, with interest rate decisions due from the European Central Bank (ECB), Reserve Bank of Australia and the Bank of Canada. Focus on the ECB will revolve around whether the bank needs to make any adjustments to its easing programme in light of the bond rally, which has left a significant amount of top-grade government paper ineligible under its own QE scheme rules. A possible scenario involves lowering the threshold for its QE programme so the ECB can get its hands on more bonds.

Economic Calendar

 

(All times are BST)

Monday, September 5th

All day - US & Canadian markets closed for Labor Day holiday

All day – G20 meetings

09:00 – Eurozone final services PMI

09:30 – UK services PMI

Tuesday, September 6th

12:01 – BRC UK retail sales

05:30 – Reserve Bank of Australia interest rate decision

15:00 – US ISM Non-Manufacturing PMI

Wednesday, September 7th

02:30 – Australia GDP data

08:30 – Halifax UK house price index

09:30 – UK manufacturing production

15:00 – Bank of Canada interest rate decision

19:00 – Fed Beige Book

Thursday, September 8th

12:50 – Japan current account, GDP, lending data

02:30 - Australia trade balance

Tentative – China trade balance

12:45 – ECB interest rate decision

13:30 – ECB press conference

13:30 – US weekly unemployment claims

16:00 – US crude oil inventories

Friday, September 9th

02:30 – China inflation data

13:30 – Canada unemployment rate

Earnings Calendar

 

Monday, September 5th

UK – Hotel Chocolat Group (HOTC) – Y/2016, EPS estimate 0.050

Tuesday, September 6th

UK – Redrow (RDW) – Y/2016, EPS estimate 0.534

Wednesday, September 7th

US – Hewlett Packard Enterprise (HPE) – Q3/2016, EPS estimate 0.446

UK – Ashtead Group (AHT) – Q1/2017, EPS estimate 0.243

UK – Barratt Developments (BDEV) – Y/2016, EPS estimate 0.541

UK – Hargreaves Lansdown (HL) – Y/2016, EPS estimate 0.362

Thursday, September 8th

US – Barnes & Noble (BKS) – Q1/2017, EPS estimate -0.177

Friday, September 9th

UK – J D Wetherspoon (JDW) – Y/2016, EPS estimate 0.460

Source: Bloomberg