September 11 – September 15, 2023 Economic report and policy meetings
September 11
Australia: Westpac Consumer Confidence Index – September
China: New Yuan Loans – August
Euro-Zone: Italy: Industrial Production (MoM) – July, Industrial Production (YoY) - July
Mexico: Industrial Production (YoY) – July
New Zealand: Electronic Retail Card Spending (MoM) – August, Electronic Retail Card Spending (YoY) – August
Russia: Balance of Trade – July
U.K.: Employment Change – June, Unemployment Rate – July, Average Earnings including Bonus (3Mo/Yr.) – July, Claimant Count Change – August, Bank of England (BoE) Pill Speech, BoE Mann Speech
U.S.: 3-Month and 6-Month Bill Auctions
September 12
Brazil: Inflation Rate (MoM) – August, Inflation Rate (YoY) - August
Euro-Zone: ZEW Economic Sentiment Index – September, Germany: ZEW Economic Sentiment Index – September, ZEW Current Conditions – September
India: Industrial Production (YoY) – July, Inflation Rate (YoY) – August, Manufacturing Production (YoY) – July
Japan: Reuters Tankan Index – September, BSI Large Manufacturing (QoQ) – 3rd Qtr., Producer Price Index (PPI) (MoM) – August, PPI (YoY) – August
South Korea: Unemployment Rate - August
U.K.: GDP 3-Month Average – July, GDP (YoY) – July, Balance of Trade – July, Construction Output (YoY) – July, GDP (MoM) – July, Goods Trade Balance – July, Goods Trade Balance Non-EU – July, Industrial Production (YoY) – July, Manufacturing Production (YoY) – July
U.S.: API Crude Oil Stock Change – September 8th, WASDE Report
September 13
Australia: Consumer Inflation Expectations – September, Employment Change – August, Unemployment Rate – August, Full Time Employment Change – August
Euro-Zone: Industrial Production (YoY) – July, France: IEA Oil Market Report
Japan: Foreign Bond Investment – September 9th, Machinery Orders (YoY) – July, Industrial Production (YoY) Final - July
U.K.: NIESR Monthly GDP Tracker – August
U.S.: Core Inflation Rate (YoY) – August, Inflation Rate (YoY) – August, CPI – August, CPI s.a. – August, Core Inflation Rate (MoM) – August, Inflation Rate (MoM) – August, Monthly Budget Statement – August, MBA 30-Year Mortgage Rate (September 8th), MBA Survey Indexes - Mortgage Market Index, Mortgage Applications (September 8th), Mortgage Market Change, Mortgage Refinance Index, Refinancing Change, MBA Mortgage Approvals (September 8), Department of Energy (DOE) U.S. Crude Oil Inventories (September 8), DOE Cushing OK Crude Inventory (September 8), DOE U.S. Gasoline Inventories (September 8), DOE U.S. Distillate Inventory (September 8), DOE U.S. Refinery Utilization (September 8), DOE Crude Oil Implied Demand (September 8), Gasoline Implied Demand (September 8), Distillate Implied Demand (September 8), API Crude Oil Stock Change (September 8), EIA Natural Gas Stocks Change – September 8
The Bureau of Labor Statistics releases the consumer price index for August. Economists forecast a 3.6% year-over-year increase, four-tenths of a percentage point more than in July. The core CPI, which excludes volatile food and energy prices, is expected to rise 4.4% following a 4.7% gin previously. The CPI is nearly six percentage points lower than its peak of 0.1% reached in June of 2022.
September 14
Brazil: Business Confidence – September
China: House Price Index (YoY) – August, Fixed Asset Investment YTD (YoY) – August, Industrial Production (YoY) – August, Retail Sales (YoY) – August, Retail Sales (YoY) – August, Unemployment Rate - August
Euro-Zone: European Central Bank (ECB) Interest Rate Decision, Deposit Facility Rate, Marginal Lending Rate, ECB Press Conference, Eurogroup Meeting, France: Inflation Rate (MoM) Final – August, Inflation Rate (YoY) Final - August
Japan: Tertiary Industry Index (MoM) – July
New Zealand: Business NZ Purchasing Managers Index (PMI) – August
U.S: Producer Price Index (PPI) (MoM) – August, Retail Sales (MoM) – August, Continuing Jobless Claims – September 22, Initial Jobless Claims – September 9, Retail Sales Excluding Autos (MoM) – August, Retail Sales Excluding Gas/Autos (MoM) – August, Business Inventories (MoM) – July
The European Central Bank announces its monetary-policy-decision. Traders are pricing in a one in three change that the central bank will raise its key short-term rate by a quarter of a percentage point to 4%. The ECB has increased the target rate from negative 0.5% to 3.75% in a little more than a year. The current contact between the United Auto Workers and the Big Three auto makers expires at 11:59 p.m. The UAW has authorized a strike if no contract is agreed to by the deadline. The current contract covers nearly 150,000 workers, and as of press time, the parties seem far apart.
September 15
Brazil: Retail Sales (MoM) – July
Euro-Zone: Balance of Trade – July, ECB President Lagarde Speech, Italy: Inflation Rate (YoY) Final – August, Balance of Trade - July
India: Balance of Trade – August
U.S.: University of Michigan Consumer Sentiment Preliminary – September, industrial Production (MoM) – August, Industrial Production (YoY) – August, Baker Hughes U.S. Rig Count – September 15th
Bold denotes likely market-moving newsflash which traders consider significant to foreign exchange levels or otherwise important/noteworthy information, i.e., market holiday’s which will affect standard settlement dates.
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