TOP 3 MARKET EVENTS IN UPCOMING WEEK 23 AUGUST 2021

Germany Manufacturing Purchasing Managers Index (PMI)

 WHEN:                                                                WHAT IT INFLUENCES:

 23rd August 2021                                                EUR and its subsequent

                                                                             pairs

WHAT’S HAPPENING:

The German Manufacturing Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion in the sector; below indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.

A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.

U.S. New Home Sales

WHEN:                                                                 WHAT IT INFLUENCES:

24th August 2021                                                  USD and its subsequent

                                                                             pairs

WHAT’S HAPPENING: 

New Home Sales measures the annualized number of new single-family homes that were sold during the previous month. This report tends to have more impact when it’s released ahead of Existing Home Sales because the reports are tightly correlated.

A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

Australia Retail Sales MoM

WHEN:                                                               WHAT IT INFLUENCES:

26th August 2021                                               AUD  and its subsequent

                                                                             pairs

WHAT’S HAPPENING: 

Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity.

A higher than expected reading should be taken as positive/bullish for the AUD, while a lower than expected reading should be taken as negative/bearish for the AUD.

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