AMERICAN ECONOMY IN FOCUS AS TRADERS LOOK TO U.S GDP AND JOBS DATA
U.S GDP AND PAYROLLS HEADLINE
The United States takes center stage this week, as foreign exchange traders look to a number of high-impact economic data released from the American economy, including second quarter GDP, ISM manufacturing and the Nonfarm Payrolls job report for the month of August.
Investors will also digest the outcome of the recent Jackson Hole symposium, and look to U.S politics, where the possibility of a U.S government shutdown in September may start to impact on financial markets.
Monday 28th August, Japan Unemployment Rate
The Japanese unemployment rate for month of July is expected to stay at 2.8 percent, a lower or higher reading in the unemployment rate may influences the strength and direction of the Japanese Yen.
Traders should also be aware that the United Kingdom has an official summer Bank Holiday on Monday, and this may lead to a reduction in trading volumes coming from London.
Tuesday 29th August, France Second Quarter GDP
The French economy releases gross domestic product figures for the second fiscal quarter, which measures the total value of all goods and services produced by France. Official statistics from INSEE are expecting that the French economy is going to expand by 0.5 percent, matching the 0.5 percent growth seen in the first fiscal quarter.
Wednesday 30th August, United States Second Quarter GDP
The United States economy releases second quarter gross domestic product figures, with analysts expecting annualized growth of 2.7 percent.
GDP Annualized is a gross measure of market activity, because it indicates the pace at which a country's economy is growing or decreasing.
Thursday 31st August, German Unemployment Figures
The German economy releases the unemployment change for August, and also the official German unemployment rate for August. The unemployment change is expected to show a figure of –5,000, whilst the unemployment rate is expected to remain at 5.7 percent.
A rise in the German unemployment has negative implications for consumer spending, as there are less people working and therefore diminishes economic growth in Germany.
Friday 1st September, United States Nonfarm Payrolls Job Report
The Nonfarm payrolls jobs report, which presents the number of new jobs created during the previous month, in all non-agricultural business, is expected to show 185,000 jobs were created in the U.S economy.
The U.S Department of Labor also releases the official unemployment rate and monthly average earnings data. Following the U.S jobs report, the U.S ISM manufacturing PMI and ISM price paid for the month of August are released.