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The week ahead: 8-12 September

A look ahead to the major events, economic releases and company news expected next week.

All trading involves risk. Losses can exceed deposits.
Apple logo
Source: Bloomberg

Apple’s announcement on Tuesday will provide much excitement, but with the share price still struggling after a difficult week the news will need to be fairly big to avoid seeing further declines in the share price. For more coverage, see Brenda Kelly’s article on the upcoming announcement.

A disappointing non-farm payroll report put the market in a negative frame of mind heading into the weekend, adding to the sense of disappointment that persisted among traders on Thursday following the European Central Bank meeting.

The week ahead is quite light in economic data terms, with the highlights perhaps being Chinese CPI, US retail sales and the first September reading of the Michigan confidence index. Fortunately UK corporate data is rather more plentiful, with a first-half earnings statement from Morrisons being particularly interesting in light of Tesco’s ongoing troubles.

Economic reports

Monday

Japanese GDP (Q2, final), 12.50am: Quarter-on-quarter growth in this economy is expected to shrink by 1.8% in the final reading, from a previous estimate of -1.7%. Market to watch: Nikkei 225, USD/JPY

Tuesday

Bank of Japan minutes (Sept), 12.50am: Recent comments by BoJ governor Haruhiko Kuroda have tended towards the optimistic, with the target of 2% inflation still expected to be reached. The minutes should reflect this, with the usual caveats that more easing is always a possibility. Market to watch: Nikkei 225USD/JPY

UK industrial & mfg production (July), 9.30am: The year-on-year expectations for these data sets are expected to show improvement, which may support the pound. Market to watch: GBP/USD, EUR/GBP

US JOLTS job openings (July), 3pm: The June figure was 4.67 million, so any improvement over this figure is likely to give the US dollar a lift. Market to watch: US indices, dollar crosses

Wednesday

Reserve Bank of New Zealand rate decision, statement & press conference (Sept), 10pm: The New Zealand central bank is expected to hold rates unchanged at 3.5%. Market to watch: NZD/USD

Thursday

Australian unemployment rate (August), 2.30am: The jobless rate in Australia is expected to drop back slightly to 6.3% from 6.4% in July. Market to watch: S&P/ASX 200, AUD/USD

Chinese CPI (August), 2.30am: In a possibly worrying sign, inflation in China is forecast to fall to 2.2% year-on-year from 2.3% in July. Market to watch: USD/JPY, China A50, Hang Seng

German CPI (August, final), 7am: The rate for the month is not expected to change from the current estimate of 0.8%. Market to watch: DAX, EUR/USD, EUR/GBP

US initial jobless claims, 1.30pm: The figure last week rose by 4,000 to 302,000, back above the 300K mark. The figure has been below 300K in four of the last seven weeks, a very strong sign. Market to watch: US indices, dollar crosses

Friday

Eurozone industrial production (July), employment (Q2), 10am: Industrial production is expected to rebound in July’s data, rising by 0.5% from June’s dire 0.3% figure. Meanwhile, look for any signs employment growth is rising from the Q1 figure of 0.2% year-on-year. Market to watch: EStoxx 50, EUR/USD, EUR/GBP

US retail sales (August), 1.30pm: Advance retail sales were flat in July, but the August figure is expected to show growth of 0.3%. Market to watch: US indices, dollar crosses

US University of Michigan consumer confidence (Sept, preliminary), 2.55pm: The preliminary reading for the month is expected to be 83, up from August’s final reading of 82.5. Market to watch: US indices, dollar crosses

 

Company announcements

Monday

Associated British Foods, Dechra Pharmaceuticals

Tuesday

Fenner, Dixons Carphone, Apple

Wednesday

Sports Direct, Barratt Developments, London Stock ExchangeKingfisher

Thursday

Home Retail, Ashmore, NextWM MorrisonDunelm

Friday

JD Wetherspoon

 

FTSE ex-dividend stocks (Wednesday 10 September): Elementis, Standard Life, Land Securities, Clarkson, Admiral, Hargreaves Lansdown, Bwin.Party Digital Entertainment, Rathbone Brothers, Restaurant Group.

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