The week ahead: 06/09/21
After the Labor Day holiday in the US we have a light week of earnings, featuring retailers Lulelemon Athletica, GameStop, Dunelm and Morrisons. Economic data highlights include the Chinese, German and UK trade balance figures.
Monday 6 September
The US is quiet due to the Labor Day holiday, but in Germany we can look to the latest data on factory orders. We’ll also get updated readings for construction PMI in Germany and the UK, showing the levels of expansion or contraction in the construction sector according to purchasing managers.
Tuesday 7 September
A minute after midnight the British Retail Consortium’s retail sales monitor is released. In July total UK sales grew 6.4% year-on-year, though still below pre-pandemic levels. Expect a busy day for macroeconomic data, with German industrial production and ZEW survey results, the final Q2 eurozone GDP, and the Chinese trade balance. The Reserve Bank of Australia also makes its latest decision on interest rates.
Wednesday 8 September
On Wednesday we’ll have earnings updates from sportswear retailer Lululemon Athletica (spreading into international markets in 2021), video game store GameStop, and home-furnishings retailers RH and Dunelm. Also look out for the revised Q2 Japanese GDP and the latest JOLTS reading on US job openings.
Thursday 9 September
Early on Thursday China releases CPI and PPI data, followed later in the morning by the latest German trade balance and the ECB’s decision on eurozone interest rates. Interim results come from UK supermarket Morrisons, currently subject to private equity bids. We also expect earnings from animal genetics company Genus and clean-energy provider FuelCell Energy.
Friday 10 September
At 7am in the UK the July industrial and manufacturing production figures are released, along with the latest trade balance. Meanwhile in Germany keep an eye out for August CPI data. In the afternoon we’ve also got US PPI for August. In July US producer prices rose by 1.0% month-on-month for the second month running.
Published: 6 September 2021
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