CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Three markets to watch next week (02.09.2022)

18:25 2 September 2022

The NFP report for August is behind us, and now the markets are preparing for a week of important decisions from central banks! Next week, banks such as the ECB, the Bank of Canada and the RBA will announce rate decisions. Therefore, markets such as EURAUD, USDCAD and CHNComp are worth watching.

EURAUD

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The coming week will bring decisions from two central banks that will be particularly important for the EURAUD pair - the Reserve Bank of Australia and the European Central Bank. Markets are betting that the RBA will make another 50bp rate hike on Tuesday at 05:30 a.m. BST, and that rates will eventually reach 3.85% in the first half of 2023. Goldman Sachs, on the other hand, expects the ECB to raise rates by 75 bps on Thursday at 13:15 BST, following recent publications that showed record inflation in the Eurozone.

USDCAD

USDCAD is another of the currency pairs that may experience more volatility next week. The Bank of Canada's decision will be made at 3 p.m. BST on Wednesday. The BoC is expected to continue its tightening cycle and raise rates by 75 bps. Additional volatility may also be triggered by Canadian labor market data for August, which will be released on Friday, and the US ISM index for services on Tuesday. Moreover, the BoC's decision may also provide some guidance for the Fed.

CHNComp

This Wednesday, we will learn China's foreign trade data. We should learn this data during the Asian session. Inflation data, on the other hand, will be known next Friday at 02:30 a.m. BST Data from China is currently being closely watched due to fears of economic stagnation due to further pandemic restrictions. China recently decided to isolate the city of Chengdu, with a population of 21 million, joining other major cities such as Shenzhen and Dalian. Further restrictions, particularly in the fall, could have a disastrous impact on the economy and translate into further problems in the global supply chain.

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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