Market Brief 13 September: Four major high-impact events today
There are plenty of news catalysts today- and more importantly all four are high-impact news events.
GBP, 09:30 a.m. GMT + 1, Average Earnings Index + Bonus (Jul) – the index gives a good indication of personal income growth durign the month of July. The number is a measurement of change of the price that government and businesses pay for labor. Projections for the month of July point to an expcted increase at 2.3% versus 2.1% for the previous period. If the actual number is btter than expected, this should be seen as a bullish sign for the as a cable. And, conversely, if the reading is lower than expcted, this should be seen bearsih sign for the currency.
GBP, 09:30 a.m. GMT +1, Claimant count change (Aug) – the number measures the change in the number of unemployed individuals for the month of August. If the trend is moving upwards, this would suggest weakness in the labour market which in turn affects consumer spending. The projection for August is at 0.6K versus – 4.2%. A higher number would suggest weakness, while a lower number, should be seen as a bullish sign on the pound.
USD, 13:30 p.m. GMT + 1, PPI (MoM) (Aug) – a leading indicator of consumer price inflation, the Producer Price Index measures measures the change in the price of goods sold by manufacturers. Analyst expectations are pointing to an increase at 0.3% for the month of August versus -0.1 % for July. An actual increase in the number, should be read as positive for the US dollar, while a worse off result should weaken the performance of the currency even more.
OIL 15:30 p.m. GMT + 1, Crude Oil Inventories – Projections for change in the number of barrels for the past week are seen at 2.285M versus 4.580M for the previous week. A higher number would mean that inventories have increase which should impact the price negatively. Conversely, if supply has been considerably cut, this should be seen as a bullish sign for the price of crud oil.
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