Economic calendar: US traders take a day off

9:45 am 7 September 2020

  • European markets seen opening with minor bullish gap

  • Tesla fails to get included in S&P 500, holiday in US and Canada

  • BoC and ECB to announce decisions this week

European stock markets are seen launching a new week with a small bullish price gap, defying drops spotted on the Asian markets. US tech index - US100- is showing some weakness after S&P Dow Jones Indices announced Tesla will not be added to S&P 500 index on Friday, September 18. Major currencies trade in narrow ranges.

While Mondays are often quiet days on the markets in terms of data, today's trading is likely to be more muted in terms of liquidity as well. Stock markets in the United States and Canada will stay shut today in observance of the Labour Day holiday. US index futures will trade but will close earlier, at 6:00 pm BST. Apart from that, trading on precious metals will also be shortened to 6:00 pm BST.

The only noteworthy reading scheduled for today - German industrial production for July - was released at 7:00 pm BST. Reading turned out to be a disappointment as it showed an increase of 1.2% MoM in spite of an expected 4.7% MoM advance.

What to watch in the remaining part of the week? 

Brexit talks

Another round of UK-EU talks will be held this week. However, it looks like chances of striking a deal are getting smaller and smaller. UK Johnson reportedly set October 15 as a deadline for making a deal while UK media reports that some senior politicians see less than 20% chance of finding agreement.

Central bank decisions

Wednesday, 3:00 pm BST - Bank of Canada

Thursday, 12:45 pm BST - European Central Bank

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.

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world.