Weekly Fundamental Forecast (Aug 28 – Sep 1)

This week could be very dramatic with dozens of profitable trading opportunities for global traders and investors, due to a set of significant economic releases from top-tier countries and the Non-Farm Employment Change report – the key for the third rate hike of Fed in 2017.

Monday – 08/28/2017

Financial markets may start the week wavelessly as there are no important data publicised. It’s likely that currency pairs will technically move, providing a series of trading occasions for traders who are fans of technical analysis.

Tuesday - 08/29/2017

U.S. CB Consumer Confidence figures will be announced at 15:00 GMT this Tuesday. It is forecasted to be 120.3, down from its previous release of 121.1. Combined with the unexpected event at the end of last week that Fed Chair Janet Yellen gave little indication about the next steps for monetary policy, the US dollar could weaken if the actual data are worse than forecasts.

Wednesday - 08/30/2017

There are some U.S. noteworthy economic outcomes such as ADP Non-Farm Employment Change (13:15 GMT) or Prelim GDP q/q (13:30 GMT) being broadcast on Wednesday this week. Almost all the figures are expected to be more positive than their last ones, indicating that the Greenback may tumble when the actual figures are confirmed. We suggest that traders should be cautious when trading the cross-USD currency pairs on this day.

Thursday - 08/31/2017

Three crucial releases from three top-tier countries will be confirmed on Thursday. Australia’s Private Capital Expenditure q/q reported at 2:30 GMT is estimated to be 0.2%, dropping from its June release of 0.3%, signaling a near-term declining Aussie. Canada’s GDP m/m (13:30 GMT) is predicted to be at 0.1%, also down from its past release of 0.6% in July, however the Canadian Dollar may not be abominably impacted because of the recent trader’s expectations for a possibly hawkish tone from Bank of Canada (BoC) in near-term.

We advise traders to focus on the Greenback on this Thursday since the U.S. Unemployment Claims figures (13:30 GMT) are forecasted to climb from its past data of 234K, suggesting that USD could fall versus its crosses.

Friday - 09/01/2017

This Friday will be very effervescent with the US dollar in focus. The upcoming Non-Farm Employment Change figures are the key for Fed Chair Yellen to decide whether to raise interest rates in December 2017 or not. These data are predicted to be 180K, down from its July release of 209K. If the actual figures are confirmed to be less than expected, traders may find USD strongly declining right after the report.

Besides, some economic data of the UK and China will also be confirmed. Pound Sterling may dip lower on Friday as UK’s Manufacturing PMI is foreseen to disappoint, while CNY is likely to gently slide since China’s Caixin Manufacturing PMI may slightly drop.
See also:
Weekly market overview May 13 - 17.
Weekly market overview May 13 - 17.
Financial news