1Finance

EUR/USD was looking good during the last full week of August and remained range-bound. What’s next? The inflation figures stand out as we turn the page into September.

1. Monetary data: Monday, 8:00. The European Central Bank measures the amount of money in circulation (M3 Money Supply) and private loans. The ECB’s expansionary policies pushed the volume of loans back to growth after a period of declines.
2. German GfK Consumer Climate: Tuesday, 8:00. The score of 10.8 seen in July is the highest in many years.
3. French Consumer Spending: Tuesday, 6:45. Consumer spending surprisingly dropped by 0.8% in June, rose than expected. Figures so far this year have been quite mixed.
4. French GDP: Tuesday, 6:45. According to the initial release for Q2, the French economy grew by 0.5%, a robust rate of growth but slightly below the euro-zone average of 0.6%. This publication will likely confirm the first one.
5. Spanish Flash CPI: Wednesday, 7:00.
6. German CPI: Wednesday, during the morning, with the all-German number at 12:00. In July, prices in Germany advanced by 0.4%, double the early expectations, eventually pushing the euro-zone numbers higher.
7. German Retail Sales: Thursday, 6:00.
8. French CPI: Thursday, 6:45. Similar to Germany, also France’s prices came out higher than expected, but they still slipped by 0.3%.
9. German Unemployment Change: Thursday, 7:55. This report is also the last one before the German elections on September 24th. Another drop will support Chancellor Angela Merkel.
10. CPI (preliminary): Thursday, 9:00. The preliminary numbers for August will shape expectations for the ECB meeting.
11. Unemployment Rate: Thursday, 9:00. An unemployment rate of 9.1% was seen in June, the lowest in 8 years. Another slide is on the cards.
12. Manufacturing PMIs: Friday, 7:15 for Spain, 7:45 for Italy, final figures for France at 7:50, final German numbers at 7:55 and the final euro-zone figure at 8:00.

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