Fed's Jackson Hole symposium has ended already and now investors have to once again focus on hard macroeconomic data. Among key releases next week one can find US PCE data for July, flash CPI data for August from Europe and Canadian Q2 GDP report. Moreover, Nvidia is scheduled to release its fiscal-Q2 2025 earnings report on Wednesday. Be sure to watch EURUSD, US100 and USDCAD in the week ahead!
EURUSD
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appThis week was all about the US dollar, with FOMC minutes, revision of BLS data and Powell's speech at Jackson Hole. Next week, investors will be offered some key reports from Europe. Flash CPI inflation data for August from Spain and Germany will be released on Thursday, while flash data from France will see daylight on Friday. Also on Friday, traders will be offered US PCE print for July. Combination of inflation data from both sides of the Atlantic may ensure volatility on EURUSD in the week ahead.
US100
Wall Street earnings season for Q2 2024 is slowly coming to a close. However, there is one more report that everyone is waiting for, and it will be released next Wednesday after the close of US session - Nvidia earnings for fiscal-Q2 2025 (calendar May - July 2024). Given the size of the company and that it is the main driver of the ongoing AI-craze in the markets, earnings release may have a big impact on sentiment towards the tech sector and be an important driver of US100 moves next week.
USDCAD
While the PCE report for July is a key macro release from the United States next week, investors' will also be offered other macro reports from the world's biggest economy. Those include durable goods orders data for July (Monday), Conference Board index for August (Thursday), revision of Q2 GDP data (Thursday) and revision of University of Michigan data for August (Friday). Those combined with Q2 GDP release from Canada on Friday may keep the USDCAD pair moving next week.
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
