This week, keep a close watch on Australia’s Consumer Price Index (CPI), the US Core Personal Consumption Expenditure (PCE) Price Index, and the US Jobs Report. These indicators could substantially impact market sentiment, amplifying the need for traders to exercise caution and stay well-informed to optimise their trading efforts throughout the week.
Here are some market highlights for the upcoming week:
Figures from the US Job Openings and Labour Turnover Survey (JOLTS) indicate that the number of job openings in the US fell by 34,000 to 9.58 million in June 2023, the lowest level since April 2021.
The figures for July 2023 will be released on 29 August, with analysts expecting a slight drop to 9.57 million.
Australia’s Consumer Price Index was up by 5.4% in June 2023, easing from the 5.5% rise observed in May 2023.
Analysts predict a slower growth rate of 5.2% in the figures for July 2023, set to be released on 30 August.
Core PCE prices in the US, excluding food and energy, experienced a 0.2% increase in June 2023, easing from the 0.3% rise seen in May 2023.
The data for July 2023 is set to be released on 31 August, with analysts expecting a 0.2% growth.
The US economy created 187,000 jobs in July 2023, while the unemployment rate decreased to 3.5%.
The figures for August 2023 will be released on 1 September, with analysts forecasting the addition of 180,000 more jobs. The unemployment rate is expected to maintain its level at 3.5%.
The ISM Manufacturing Purchasing Managers’ Index (PMI) for the US rose to 46.4 in July 2023 from 46 in June 2023.
Analysts predict a reading of 46.6 in the index for August 2023, scheduled for release on 1 September.
Rakan rasmi:
