Traders should keep a close eye on US retail sales and the Consumer Price Index (CPI) reports from New Zealand, Canada, and the UK this week, as these updates could have a substantial influence on the market. Exercise caution and stay up to date with the latest developments to ensure a successful week of trading.
Here are some notable market highlights for the upcoming week:
New Zealand Consumer Price Index (17 October 2023)
In Q2 2023, the CPI for New Zealand increased by 1.1%.
The CPI data for Q3 is set to be released on 17 October, with analysts anticipating a 1.9% increase.
UK Claimant Count Change (17 October 2023)
The number of people claiming unemployment benefits in the UK increased by 900 in August 2023.
An additional increase of 22,000 is anticipated in the upcoming data, due for release on 17 October.
Canada Consumer Price Index (17 October 2023)
Canada’s CPI rose by 0.4% in August 2023 compared to the previous month.
Analysts expect a 0.1% increase in the September figures, which are scheduled for release on 17 October.
US Retail Sales (17 October 2023)
US retail sales saw a month-over-month increase of 0.6% in August 2023, surpassing the 0.5% uptick recorded in July 2023.
Analysts anticipate a 0.3% increase in the data for September, set to be released on 17 October.
UK Consumer Price Index (18 October 2023)
CPI in the UK eased to 6.7% in August 2023 from 6.8% in the previous month, the lowest rate since February 2022.
CPI figures for the next reporting period are expected to further decrease to 6.5%.
Employment in Australia (19 October 2023)
Employment in Australia increased by 64,900 in August 2023, while the unemployment rate stood at 3.7%.
Analysts anticipate that the employment figures for September 2023 will reflect an increase of 20,900 jobs, with the unemployment rate expected to remain at 3.7%. This data is scheduled for release on 19 October.
UK Retail Sales (20 October 2023)
Retail sales in the UK rose by 0.4% in August 2023, partially recovering from a 1.1% decline in July.
The next set of data will be released on 20 October, with analysts expecting a decrease of 0.3%.
