Forex and other markets news
Week Ahead News Outlook / 26.09.2022 - 02.10.2022
Week Ahead News Outlook / 26.09.2022 - 02.10.2022
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Germany Gross Domestic Product (GDP) QoQ
Germany's GDP grew by 0.1% in the second quarter, helped by household and government spending. Household spending increased as consumers began to travel and go out more after all restrictions related to Covid-19 were lifted. Government spending has increased, while gross fixed capital accumulation in construction has declined. Also, there was a decline in the manufacturing industry and construction. The German economy returned to pre-crisis levels in the Q4 of 2019, but the outlook remains complicated amid the ongoing energy crisis.
26 September, 13:30, GMT+7
EUR and its subsequent pairs
Forecast 0.1% (Actual 0.1%)
Germany Ifo Business Climate Index
The Ifo Business Climate indicator slowed down to 88.5 in August. It is a low since June of 2020, although data much better than forecasts of 86.8. Supply chain problems in the industry have significantly decreased. Nevertheless, a recession is expected, and analysts expect the German economy to shrink in the Q3. In addition, the mood in the retail sector is really bad thanks to high inflation.
26 September, 15:00, GMT+7
EUR and its subsequent pairs
Forecast 86.8 (Actual 88.5)
U.S. CB Consumer Confidence
U.S. consumer confidence rose to 103.2 in August amid Americans becoming more upbeat about the outlook for the economy. The overall improvement in sentiment follows last month's optimistic Nonfarm data and lower gasoline prices.
27 September, 21:00, GMT+7
USD and its subsequent pairs
Forecast 104.0 (Actual 103.2)
U.S. Gross Domestic Product (GDP) QoQ
The U.S. economy declined by - 0.6% in Q2, which is less than expected, thanks to upward revisions to consumer spending and inventories. However, the economy technically entered a recession, following a 1.6% fall in Q1. Catering services and accommodation have increased, while spending on goods has decreased, namely on food and beverages. In addition, private investment in inventories was revised upward, although it remained a constraint, mainly due to retail trade.
29 September, 19:30, GMT+7
USD and its subsequent pairs
Forecast -0.6% (Actual -0.6%)
Eurozone Consumer Price Index (CPI) YoY
Inflation rate in the Eurozone stayed at a record of 9.1% in August, compared to 8.9% in July. The highest increase came from energy,prices for food, alcohol & tobacco and non-energy industrial goods. Price pressure has already spread to all sectors of the economy.
30 September, 16:00, GMT+7
EUR and its subsequent pairs