From Yellen to Draghi, Trump to Clinton, Call Levels has prepared and compiled some exciting highlights that markets are anticipating for the week ahead.
04:00 (ET) – German Ifo Business Climate Index
German business climate fell unexpectedly to 106.2 points in August from July’s 108.3 points, posting the largest decline in over four years. The evident deterioration in Germany’s business confidence can be attributed to concerns over the consequences regarding Brexit. Even though policy makers have issued words of confidence, worries regarding a weaker external demand that could potentially downgrade the growth outlook for September still hovers. Economists have forecast that the German business climate index will remain at 106.3 for the month of September.
11:05 (ET) – ECB President Mario Draghi Speaks
President of the European Central Bank, Mario Draghi, will testify on Economic and Monetary Affairs before the European Parliament in Brussels. It is within expectations that Draghi may discuss the risks of deflation despite generous quantitative easing and negative rates being set in place. There might be fresh hints on whether the ECB will step up monetary stimulus in the coming months to boost inflation and the economy. Since he did not provide further details on how QE will evolve in the post-rate decision press release, he might shed some light on this issue in his speech. Market volatility is expected.
19:10 (ET) – Bank of Canada Stephen Poloz Speaks
Governor Stephen Poloz (Bank of Canada), will be speaking in Washington DC. In a recent speech, Poloz touched on the growing uncertainty with regards to Canada’s economic recovery. This was in contradiction to his earlier view in July, when he expressed that the GDP expanded the most in June in almost three years.
21:00 (ET) – U.S Presidential Debate
The world will turn its focus to the first televised U.S presidential debate Monday night. Recent polls by the NBC/Wall Street Journal have revealed Clinton’s 6-point lead at 43% compared to Trump’s 37% among likely voters.
OPEC Meeting – Monday (26/9/16) to Wednesday (28/9/16)
Informal talks involving OPEC members, led by Saudi Arabia and other big Middle East Crude exporters such as Iran and Iraq, with non-OPEC producer Russia, will take place on the sidelines of an energy conference in Algeria from Monday through Wednesday. After attempts to freeze production levels earlier this year failed when Saudi Arabia backed out over Iran’s refusal to take part in the initiative, chances that the upcoming meeting would produce any outcomes to reduce the global gut appeared minimal according to market experts. Possibilities of freeze talks being postponed to the official OPEC meeting in Vienna on November 30 are more probable as most believe that oil producers will continue to monitor the market become reaching an agreement.
10:00 (ET) – US CB Consumer Confidence
With rising optimism in August, the Consumer confidence index hit 101.1 against analysts’ expectation of 97.2. However, the CB consumer confidence index is expected to weigh in at 98.6 in September as there have been an increase in the number of respondents claiming that it is harder to find jobs.
10:00 (ET) – Fed Chair Yellen Testifies
Markets are keeping their eyes on the Fed after the announcement of unchanged interest rates last week. Fed Chair Janet Yellen will testify before the House Financial Services Committee on regulation and supervision come Wednesday. More importantly, all attention will be on Yellen’s speech this Thursday as expectations start to grow for a December rate hike.
10:30 (ET) – Crude Oil Inventories
Crude stocks in the U.S. continued its decline for the third consecutive week. Actual data showed crude oil inventories falling by 6.2 million barrels, contrary to economists’ expectations that the stocks will increase by as many as 3.2 million barrels. Oil prices have jumped by as much as 3 percent following this report. Analysts have pointed to crude stockpiles in the U.S. still being at high levels and prices could come under downward pressure again.
10:30 (ET) – ECB President Draghi Speaks
Draghi is scheduled to speak about current developments in the euro area at the German Bundestag, in Berlin.
02:35 (ET) – Bank of Japan Governor Kuroda Speaks
Haruhiko Kuroda will speak at the National Securities Industry Convention in Tokyo on the readiness to loosen monetary policy further if required, in order to achieve the 2% inflation target and boost the economy. Market volatility is expected.
08:30 (ET) – US Second Quarter Final GDP Data
Having had three quarters of weak growth at around 1 percent during these quarters, the U.S. economy is suffering. The economy grew at an annualized pace of 1.1 percent according to the second estimate for Q2 2016. Even though the final growth rate for the second quarter is expected to revise upwards towards 1.3 percent, high hopes for a robust third quarter growth are getting eroded.
08:30 (ET) – US Initial Jobless Claims
The number of Americans filing initial claims for unemployment benefits fell to 252,000 last week, the lowest level since April 2016 and better than analysts’ expectations of 262,000. This is a positive indication that the employment market remains robust, despite moderate hiring. The number of initial claims for unemployment benefits is expected to be 260,000 for the next report.
16:00 (ET) – Fed Chair Yellen Speaks
Federal Reserve Chair Janet Yellen will give a speech at the Minority Bankers Forum in the city of Kansas on the reasons for maintaining rates in the Fed’s September meeting. She may also be providing further clues regarding the next rate hike which probably might take place around Christmas. Market volatility is expected.
08:30 (ET) – Canadian GDP Data (MoM)
Canada’s GDP increased 0.6 percent in June, registering a rebound from the 0.6 percent drop recorded in the previous month. The economic growth was better than the 0.4% growth rate forecast.
With a truckload of information and economic events to look out for, Call Levels helps you to stay ahead of the markets so you will never miss an investment opportunity again!