NFP report for August and OPEC+ meeting are behind us and now markets shift their attention to number of central bank policy decisions scheduled for next week. Central bankers from the euro area, Canada and Australia will announce decisions. Apart from that, a number of Fed members will deliver speeches next week. Be sure to watch US500, EURCAD and AUDUSD in the week ahead!
US500
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appBull market on Wall Street continues with indices like S&P 500 (US500) and Nasdaq-100 (US100) reaching new record highs on an almost daily basis. Data has been improving recently and may continue to do so, especially labour market data. Federal pandemic unemployment benefits are set to expire next week, what should encourage more people to return to work. Potential QE tapering is a big risk for equities and a number of Fed speakers scheduled for next week may shed some light on the future policy outlook. 6 Fed members will deliver speeches on Wednesday alone.
EURCAD
Investors will be offered policy decisions from central banks from Canada and the European Union. ECB will announce its decision on Thursday at 12:45 pm BST and investors hope for more details on the timeline of QE tapering in Europe. Bank of Canada will announce its rate decision on Wednesday at 3:00 pm BST. However, in this case central bankers aren't expected to make any moves or announcements as risks to growth in the country mount. EURCAD was quite muted this week but things are set to get more interesting in the days ahead.
AUDUSD
Apart from ECB and BoC, the Reserve Bank of Australia will also announce rate decisions next week. Announcement will come on Tuesday at 4:30 am BST. While RBA agreed to scale-back its bond-buying programme in July, minutes unveiled that central bankers from Australia consider Delta coronavirus variant to pose a major risk to the economy. As cases in the country spiked and new restrictions were enacted, there is a feeling that the RBA may hit a dovish tone next week. AUDUSD enjoyed strong gains this week and managed to distance further away from its recent 10-month low.
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.
