Forex and other markets news
Week Ahead News Outlook / 22.08.2022 - 28.08.2022
Week Ahead News Outlook / 22.08.2022 - 28.08.2022
Tuesday, August 23
Germany Manufacturing Purchasing Managers Index (PMI) rose to 49.3 from 49.2 in July. Nevertheless new orders declined the most in the last two years due to higher prices and high inventory levels among customers and ongoing supply chain problems.
U.S. New Home Sales (Jul) is an economic indicator that measures sales of new built homes. New home sales in the United States declined to 590,000 in June of 2022, which is below market expectations of 660,000. The housing market is slowing thanks to rising mortgage and building materials costs.
Wednesday, August 24
U.S. Core Durable Goods Orders MoM indicator shows the volume of orders for durable goods in the United States, excluding the transport component (orders for cars and airplanes). New orders for capital goods rose to 0.3% in June of 2022, the second consecutive monthly increase. It's a sign that business spending plans remain strong despite higher interest rates and inflation.
Thursday, August 25
Germany Gross Domestic Product (GDP) QoQ is the total value of all goods produced by this country. The German economy slowed down in the second quarter of 2022 compared to the previous three months. Household and government spending helped upward contribution, while net trade had a negative impact on economic growth.
Germany Ifo Business Climate Index (Aug) is a leading indicator of German economic activity and it measures the state of Germany's business environment on a monthly basis. The index fell to 88.6 in July, the lowest for the last two years. High energy prices and the fear of gas shortages are putting pressure on the economy, which is on the way to recession.The index of the current situation has decreased. Sentiment also worsened in all sectors: manufacturing, services, trade and construction.
U.S. Gross Domestic Product (GDP) QoQ fell to -0.9% in the second quarter. The indicator has been falling for five months in a row. Economists have cut U.S. economic growth forecasts for 2022 and 2023, calling the outlook uncertain. The forecast was lowered due to weaker-than-expected growth in the first half of 2022, a decline in household purchasing power and tightening monetary policy.