August 2022 EVENTS
- US ISM Manufacturing PMI (July) (August 1st at 15:00 GMT+1)
June's ISM Manufacturing PMI printed at 53.0. The consensus forecast for July is 52.2.
Possible influence: Volatile US Dollar, Gold and US Stocks
- Company Earnings Season (q2) (August 1st to August 31st)
Second quarter earnings season continues in August. Companies expected to report will include AMD, PayPal, Moderna, Alibaba, Nvidia, Nio, Virgin Galactic, Caterpillar, Uber, Ebay, Disney, RIvian, Walmart, Applied Materials, Deere, Rivian, Xpeng, and Walmart.
- Reserve Bank of Australia (August 2nd at 05:30 GMT+1)
The Reserve Bank of Australia will meet to decide about interest rates. The rate is currently 1.35%. It was last changed at their July meeting when it was increased by 50 basis points.
Possible Influence: Volatile AUD
- OPEC+ Meeting (August 3rd)
OPEC+ is scheduled to hold their next meeting on August 3rd. OPEC+ is made up of the original OPEC cartel plus Russia. The group must decide on a new production deal but is expected to stick to current output levels or to slightly increase it.
Possible influence: Volatile Oil, Natural Gas, Gasoline
● Bank of England Meeting (August 4th at 12:00 GMT+1)
The Monetary Policy Committee of the Bank of England will meet to decide on interest rates. The current rate is 1%. It was raised 25 basis points at their last meeting on June 16th.
Possible Influence: Volatile British Pound and British stocks
- U.S. Unemployment Rate and Non-Farm Payrolls (NFP) (July) (August 5th at 13:30 GMT+1)
The Unemployment rate for June was 3.6%. It is expected to remain the same at 3.6% for July. Non-Farm Payrolls are expected to fall to 290,000 for July, lower than June’s figure of 372,000.
Possible Influence: Volatile US Dollar, Gold and US Stocks
- Inflation data in US (July) (August 10th at 13:30 GMT+1)
Core CPI (excluding food and energy) was 5.9%, Year-over-Year in June. July’s Core CPI is expected to fall to 5.8%, Year-over-Year. Top-line CPI for June came in at 9.1%, Year-over-Year. The forecast for Top-line CPI for July is 9.2%, Year-over-Year.
Possible Influence: Volatile US Dollar, Gold and US Stocks
- Retail Sales in US (July) (August 17th at 13:30 GMT+1)
Retail Sales rose 1.0%, Month-over-Month, in June. Retail Sales for July are forecast to increase 0.8%, Month-over-Month. Core Retail Sales for June increased 1.0%, Month-over-Month. Core Retail Sales for July are expected to rise 0.6%, Month-over-Month, in July.
Possible Influence: Volatile US Dollar, Gold and US Stocks
- U.S. GDP Growth Rate, 2nd Quarter, 2nd Reading (GDP) (2nd Quarter) (August 25th at 13:30 GMT+1)
1st Quarter GDP in the United States came in at -1.6%. The first reading on the 2nd Quarter GDP printed at -0.9% on July 28th. There is no forecast available yet for the revision.
Possible Influence: Volatile US Dollar, Gold and US Stocks
Possible Influence: Volatile US Stocks and Indices
- Jackson Hole Economic Symposium (August 25th to August 27th, 2022)
The Federal Reserve Bank of Kansas City will once again host its annual meeting of central bankers, policymakers, academics, and economists from around the world. The participants will discuss economic issues and policy options. The event includes speeches, papers, commentary, and discussions.
Possible Influence: Volatile Currencies, Commodities, and Stocks
- Ongoing Tension between the United States, Russia, Europe, and Ukraine (August)
The War in Ukraine entered its sixth month and shows no sign of ending in the near future. The war, sanctions, and counter-sanctions, continue to put upward pressure on commodity prices around the world, especially energy and agricultural products. The West continues to fund Ukraine in its defense against Russia’s invasion. The West is now sending longer-range weapons than earlier in the conflict. German energy supplies remain tight and prices have skyrocketed. The situation has strained all corners of German industry. At the time of this writing gas flows through the Nordstream 1 pipeline are running at 20% of capacity.
Possible Influence: Volatile US Dollar, Natural Gas, Volatile Russian Ruble, Gold, Oil, Palladium, and US Stocks