Highlights this week: RBA interest rate, US GDP, US PCE, ChinesTuesday:
RBA interest rate decision at 04:30 AM GMT where the market is expecting that the interest rates will remain stable at 4.35%. In the event however that we have a surprise cut by the Reserve bank then it might create minor losses for the Aussie Dollar in the short term.
Thursday:
US GDP growth at 12:30 PM GMT for the second quarter is expected to double and reach 3%. If this rather optimistic expectations are met then it might boost the Dollar while hurting many of its instruments traded against it.
Friday:
U.S core PCE at 12:30 PM GMT. The market is expecting this figure to remain stable at 0.2% month over month but if any surprise is seen at the time of publication would most probably create volatility in the majority of the dollar pairs.
Monday:
NBS manufacturing PMI at 01:30 AM GMT where the expectations are for an increase reaching 50 points. The NBS is larger than the Caixin and is focusing more on larger state-owned firms. If the expectations are correct then it would mean that the state-owned firms might be performing better, given the actual figure is above the 50-point level indicating that the manufacturing sector of the NBS survey might still be expanding and probably might have some effect on production-related products like oil, natural gas, silver, etc.
Caixin Manufacturing PMI at 01:45 AM GMT. The figure for the month of September is expected to increase by 0.6 points reaching 51. Caixin PMI is more focused on the export sector and small and midsize enterprises (SMEs) and a reading of anything below the 50 point mark would indicate that these companies have yet to recover fully which could result in affecting the prices of various manufacturing related instruments.
