Analytical Reviews

Get the latest economic news from ForexMart, including updates on the financial market, central bank policy announcements, financial indicators, and other relevant news which can impact the industry.

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Economic Calendar | August 8 – 12


August, 08 2022
watermark Economic news

Monday, August 8


As it often happens, the macroeconomic calendar on Monday is completely empty again. But this is not bad, since market participants will have the opportunity to recover somewhat after Friday's Non-Farm Payrolls labor market report and the subsequent dollar growth. According to the United States Department of Labor, the number of people employed in the non-agricultural sector in July unexpectedly increased by 528 thousand against the expected 250 thousand. 


Tuesday, August 9


On Tuesday, the calendar is also almost empty. The only thing worth paying attention to is orders for machinery and equipment in Japan, the growth rate of which may slow down from 17.1% to 14.0%. This means that the Japanese economy, which is significantly dependent on mechanical engineering, is beginning to show signs of slowing down. And this will put some pressure on the yen. 


Wednesday, August 10


However, on Wednesday, the yen may receive support after the release of statistics on producer prices, the growth rate of which should slow down from 9.2% to 8.7%. That is, there are signs of slowing inflation in Japan, which will provide good support for the Japanese currency.


However, after the opening of the American trading session, the US dollar will already grow, and in relation to all currencies of the world. The reason for strengthening will be inflation. According to forecasts, inflation in the United States should remain at the same level. That is, it will stop growing, which in itself is an extremely positive moment, contributing to a significant increase in interest in the dollar.


Thursday, August 11


On Thursday, the US will publish data on the producer price index, which should decrease from 11.3% to 10.9%. And this will confirm the beginning of the decline in inflation itself and will contribute to an even greater strengthening of the US dollar.


Friday, August 12


The week ends with a block of statistics on Europe, which is likely to put pressure on many European currencies. In particular, the UK GDP estimate for the second quarter should show a slowdown in economic growth from 8.7% to 2.8%. In other words, the British economy is steadily sliding into recession, as the Bank of England recently warned. The data will only confirm these concerns and lead to a weakening of the pound.


The single European currency will also be under pressure. The driver of the decline will be industrial production in the eurozone, the growth rate of which should slow down from 1.6% to 0.8%.


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