Economic Calendar | September 5 – 9

Monday, September 5

Monday this week is unusually full of publications – indexes of business activity in the service sector and a composite index will be published, and for all countries of the world. However, these statistics will have little effect, since the final data are published, which have long been taken into account by the market. 

But the data on retail sales in the eurozone can provide strong support to the single European currency, since the rate of decline in sales should slow down from -3.7% to -1.4%. Given the obvious oversold nature of the euro, this will be enough for local strengthening. 

Tuesday, September 6

The only significant event on Tuesday will be the meeting of the Board of the Reserve Bank of Australia, during which the refinancing rate may be increased from 1.85% to 2.35%. This step will support the Australian dollar, which may strengthen its position somewhat.

Wednesday, September 7

German and Eurozone GDP data will be presented on Wednesday. However, they will not be of any interest, since we are talking only about the third assessment, which should confirm the previous two. So the market will not learn anything new.

The main event of the day will be a meeting of the Board of the Bank of Canada. It is expected that the refinancing rate may be raised from 2.50% to 3.25%. And such a sharp increase, of course, will spur the growth of the Canadian dollar.

Thursday, September 8

Well, the main event not only on Thursday, but throughout the week, will be the meeting of the Board of the European Central Bank. All market participants are confident that the European regulator will raise the refinancing rate from 0.50% to 1.25%. And this step will provide the European currency with tremendous support and will allow it to rise above parity against the dollar. Traditionally, the growth of the euro will pull other currencies along with it. 

Friday, September 9

At the end of the week, you should pay attention only to the data on the labor market in Canada. At the same time, the main indicators should remain unchanged, so it is unlikely that these statistics will be able to influence the situation on the market.