In the week ahead, the dollar looks likely to remain under pressure ahead of the outcome of the Fed’s upcoming policy meeting later in the month. Investors will be looking ahead to Friday’s U.S. data on retail sales and consumer sentiment for indications on the strength of the economic recovery. An interest rate decision by the Reserve Bank of New Zealand will also be in focus.
Monday, September 9
Japan is to release data on the current account and bank lending as well as revised data on second quarter gross domestic product, the broadest indicator of economic activity and the leading indicator of economic health. Australia is to release data on job advertisements and home loans. Meanwhile, China is to produce data on consumer price inflation, which accounts for the majority of overall inflation. Switzerland is to publish data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity, as well as data on the unemployment rate. Canada is to publish government data on building permits, a leading indicator of future construction activity.
Tuesday, September 10
The Bank of Japan is to release monetary policy meeting minutes, which provide insights into economic conditions from the bank’s perspective. Japan is also to produce data on tertiary industry activity. Australia is to release private sector data on inflation expectations and business confidence. China is to publish data on fixed asset investments and industrial production. In the U.K., Bank of England Governor Mark Carney and monetary policy committee members are to testify on the inflation and economic outlook before the Treasury Select Committee.
Wednesday, September 11
Japan is to publish the BSI manufacturing index. Meanwhile, Australia is to produce private sector data on consumer sentiment. The U.K. is to release government data on the change in the number of people unemployed, the overall unemployment rate and average earnings.
Thursday, September 12
The RBNZ is to announce its benchmark interest rate and publish its rate statement, which outlines economic conditions and the factors affecting the monetary policy decision. The bank is to hold a press conference after the rate announcement. Australia is to produce official data on the change in the number of people unemployed and the unemployment rate. Japan is to release official data on core machinery orders, a leading indicator of production. The European Central Bank is to publish its monthly bulletin, which outlines the bank’s economic outlook. The euro zone is to publish data in industrial production. Canada is to release official data on new house price inflation, an important indicator of demand in the housing sector. The U.S. is to release the weekly government report on initial jobless claims, a leading economic indicator, as well as official data on import prices.
Friday, September 13
New Zealand is to release private sector data on manufacturing activity. Switzerland is to release data on producer price inflation. The U.S. is to round up the week with reports on retail sales and producer price inflation, as well as preliminary data from the University of Michigan on consumer sentiment.