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OvalX weekly diary - 9 September

What to look out for next week

The major item to watch out for next week is midday on Thursday when the Bank of England is thought to be lifting rates by another 0.50 percent. Both the Federal Reserve and the ECB have recently raised rates by 0.75 percent, and some do still see a chance of a 75bp move by the BoE.

There is otherwise a slim slate of corporate news next week, with only really Oracle and Adobe of any real note. The lack of corporate news is likely to keep the focus on global inflation rates. The US updates the CPI on Monday and PPI on Wednesday, when the UK also updates August inflation rates.

The equity markets have endured a period of nervousness ever since Jerome Powell made his speech at Jackson Hole, undermining the summer optimism. There is a renewed sense of optimism building that inflation may have peaked. Will this be able to gather momentum, or will it evaporate as quickly as the summer rally?

The expectation is that next week buyers will continue to gain confidence on the back of a lack of negative shocks from the inflation rate updates.  

Trading calendar

Monday 12 September (Market holiday in China – Mid-Autumn Festival)

Major companies reporting:

Associated British Foods, Oracle

Major economic data due:

No major data due

Tuesday 13 September

Major companies reporting:

Fevertree Drinks

Major economic data due:

10:00 German ZEW Economic Sentiment, -60.0 expected (-55.3 previous)

13:30 US August CPI m/m, -0.1 percent expected (0.0 percent previous)

Wednesday 14 September

Major companies reporting:

Redrow

Major economic data due:

07:00 UK August Inflation y/y, 10.4 percent expected (10.1 percent previous)

13:30 US Core PPI Inflation y/y, 9.8 percent previous

Thursday 15 September

Major companies reporting:

Adobe, Renishaw

Major economic data due:

12:00 BOE Rate Decision. +50bp expected

13:30 US August retail sales m/m 0.2 percent expected (0 percent previous)

Friday 16 September

Major companies reporting:

None scheduled

Major economic data due:

07:00 UK August Retail Sales y/y -3.4 percent previous

10:00 Eurozone August final inflation y/y 9.1 percent expected (9.1 percent previous)

Please note that the presented content refers to the Oval group which contains two legal entities: Monecor (London) Limited authorised and regulated by the UK Financial Conduct Authority (FCA) with Financial Services register number 124721. Monecor (Europe) Limited authorised and licensed under the Cyprus Securities and Exchange Commission (‘CySEC’) with license number 096/08.