Lots Of Speeches From The Old Continent, Germany Provides Reports
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Traders will start the new week on the market with analyzes of comments from the representatives of the ECB, MPC, Bank of Japan and FOMC.
Japan’s reports and speeches
We start the new week with a report and speeches from the Land of the Rising Sun.
At 2:30 CET, Japan released two Purchasing Managers Index (PMI) reports. The first one concerned Japan Manufacturing, i.e. the activity level of purchasing managers in the manufacturing sector. The reading dropped slightly from 51.5 to 51.0.
Another PMI indicator concerned the survey covers transport & communication, financial intermediation, business services, personal services, computing & IT and hotels & restaurants.This indicator increased from level 49.5 to level 51.9.
The head of the Bank of Japan spoke at 7:35 CET. His statement may have an impact on the situation of the Japanese yen. About an hour later Deputy Governor Masayoshi Amamiya spoke.
Speeches
At 9:00 CET regrind German Bundesbank President Nagel. He is the Deutsche Bundesbank President and voting member of the ECB Governing Council which means that his statement may affect the euro.
At the same time, members of the European central bank also took the floor. Their speeches will influence the situation on the euro market. The speakers were Luis de Guindos, Vice-President of the European Central Bank and Fabio Panetta, member of the Executive Board of the European Central Bank.
Another speech from the main euro area economy, Germany, is scheduled for 12:10 CET. The speaker will be Burkhard Balz. And at 15:00 CET the European Central Bank President Lagarde will speak.
In addition to orders from the European Union, there will be speeches by FOMC members and we expect statements from the UK.
The first speech by a FOMC member will take place at 16:00 CET. The Federal Reserve Bank of Boston President and Federal Open Market Committee (FOMC) Eric S. Rosengren will speak. Another speaker will be Federal Reserve Bank of Atlanta President Raphael Bostic. His speech is scheduled for 18:00 CET.
At 18:00 CET also Silvana Tenreyro serves as a member of the Monetary Policy Committee (MPC) of the Bank of England.
The statements of these people can give traders a clue as to the future monetary policy actions of banks and give the currencies a direction in the forex market.
Reports from Germany
At 10:00 CET, Germany will publish three reports for the month of September.
The first is the expectations of businesses in Germany for the following six months. It is is a sub-index of the German Ifo Business Climate Index. Germany Business Expectations has been falling since February and stayed between 80 and 90. The last result was at 80.3, current expectations show that it will drop below 80 and may reach 79.0.
Germany Current Assessment is expected will also fall. The August reading was at 97.5, and expectations for September are at 96.0. Rates current business conditions in Germany, without considering future expectations after it dropped in March, started to rise again in May and was close to 100.0. There was another decline in July and a sustained downward trend is expected since then.
Source: investing.com
The last report from Germany is the German Ifo Business Climate Index. Expectations for this indicator are also falling. The last reading of this indicator was at 88.5, expectations for the current reading are at 87.0. Even though it peaked in February, the geopolitical situation changed it and it fell significantly in March. In the following two months, the current German business climate index tried to rebound, but in June it started a downward trend.
Source: investing.com
There were few reports and statistics today, but more will be released in the coming days. This week we are waiting for GDP reports and the result of inflation in the European Union.
Summary
- 2:30 CET Japan Manufacturing PMI (Sep)
- 2:30 CET Japan Services PMI
- 7:35 CET BoJ Governor Kuroda Speaks
- 8:00 CET BOJ Deputy Governor Amamiya Speaks
- 9:00 CET German Buba President Nagel Speaks
- 9:00 CET ECB's De Guindos Speaks
- 9:00 CET ECB's Panetta Speaks
- 10:00 CET German Business Expectations (Sep)
- 10:00 CET German Current Assessment (Sep)
- 10:00 CET German Ifo Business Climate Index (Sep)
- 12:10 CET German Buba Balz Speaks
- 15:00 CET ECB President Lagarde Speaks
- 16:00 CET FOMC Member Rosengren Speaks
- 18:00 CET MPC Member Tenreyro Speaks
- 18:00 CET FOMC Member Bostic Speaks
Source: https://www.investing.com/economic-calendar/
