Market -Weekly Outlook Oct 02 2017

In the week ahead, global financial markets will shift their focus to the Fed Chair Janet Yellen as well as Friday's monthly employment data and remarks from European Central Bank President Mario Draghi.

Last Week Recap

The U.S dollar shot up then retreated after Yellen’s comments on  Tuesday that the Fed was struggling to achieve one of its key policy goals. Despite uncertainty about the path of inflation. Yellin’s words seemed to have a strong impact on the market. Therefore, the U.S dollar came under pressure on Thursday and Friday. The question is now?

Is current inflation a passing cloud, or is Yellen trying to hint at something unexpected that will happen in the future?

Above all…I guess we will find out in her next speech at a community banking conference hosted by the Federal Reserve Bank of St. Louis at 3:15 PM ET (19:15GMT) Wednesday.

Teresa May puts sterling under pressure!

Prime Minister Teresa Mae responded to her critics on Sunday. Saying she had the right strategy to lead Britain and win Britain’s exit agreement with the European Union. Which apologized for losing the Conservative majority in the June elections.

For instance…May… who has faced calls from her party to step down, wants to use the Conservatives’ annual conference in the northern English city of Manchester this week to try to get her agenda back and give money to students and people she has described as “just about managing” in Britain.

In an interview with BBC television. She dismissed talk of rifts among top ministers, saying they were united on their program and more importantly Brexit. That came a day after foreign minister Boris Johnson, perhaps May’s biggest rival. Set out four personal red lines in the complex talks with the European Union.

But with thousands of protesters requesting to stay in the EU outside the conference gates. May still has a long way to unite not only its ruling party. But also the country after last year’s divisive referendum vote.

In addition, the divisions in her government have exploded into the open. With ministers using the media to highlight their differences not only on Britain’s exit from the EU but also on the government’s austerity approach – with many conservatives worried about the growing appeal of the main opposition Labor Party.

Ahead of the coming week, here is a list of the biggest events on the economic calendar that are most likely to affect the markets next week:

Monday, October 2, 2017

Financial markets in China are closed for a holiday.

Japan will publish its Tankan manufacturing and non-manufacturing indexes.

Germany will report on Manufacturing PMI.

The UK will release data on manufacturing activity.

In the U.S., the Institute for Supply Management is to publish its manufacturing index.

U.S will report on ISM Manufacturing PMI…

Tuesday, October 3, 2017

In the week ahead, global financial markets will shift their focus to the Fed Chair Janet Yellen as well as Friday’s monthly employment data and remarks from European Central Bank President Mario Draghi.

Financial markets in China will remain closed for a holiday.

The Reserve Bank of Australia will announce its benchmark interest rate decision and publish the minutes of its monetary policy meeting.

Financial markets in Germany will be closed for a holiday.

The UK will release data on construction PMI.

Wednesday, October 4, 2017

Chinese financial markets will be closed for a holiday.

The UK is will release data on Services PMI.

The U.S will release the ADP nonfarm payrolls report for September. While the ISM is to release its non-manufacturing PMI.

The U.S  Energy Information Administration will release weekly data on oil and gasoline stockpiles.

ECB present Mario Draghi will speak in Frankfurt.

Later in the day, Fed Chair Janet Yellen will speak at an event in St. Louis.

Thursday, October 5, 2017

Chinese financial markets will remain closed for a holiday.

Australia will release data on retail sales and the trade balance.

ECB Monetary Policy Meeting.

The U.S will report on jobless claims, trade and factory orders.

Fed Governor Jerome Powell and Philadelphia Fed President Patrick Harker are both will speak at an event in Austin.

Friday, October 6, 2017

Financial markets in China will remain closed for a holiday. Canada is to publish its monthly employment report along with the Ivey PMI.

Canada will publish its monthly employment report followed by the Ivey PMI.

The U.S will release non-farm payrolls report for September.

New York Fed President William Dudley and Dallas President Robert Kaplan are also to speak.


You can follow the rest of the week’s economic events by visiting:

http://www.askhaitham653.com/live-calendar/

 

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