The week ahead: 02/08/21
August gets underway with a slew of PMI data across Europe and the US, followed by the latest MPC decision on UK interest rates on Thursday. The week draws to a close with the critical US nonfarm payrolls.
Monday 2 August
Along with German retail sales data, look out for French, German, eurozone and UK manufacturing PMI. In the US we’ll see both the Markit and the ISM manufacturing PMI reports. Earnings include ‘big five’ bank HSBC (recently hit by a major DNS outage), brewer Heineken and insurance group AXA.
Tuesday 3 August
Early on Tuesday we’ll get the Tokyo CPI data in Japan, followed by the Reserve Bank of Australia’s decision on Australian interest rates. The highlight of the afternoon is US factory orders. Meanwhile oil supermajors BP and ConocoPhillips report quarterly earnings, along with Chinese multinational tech group Alibaba and pharmaceutical firm Eli Lilly.
Wednesday 4 August
Car manufacturers General Motors and Toyota both release quarterly figures on Wednesday. Also keep an eye out for earnings from electronics and media group Sony, which last week announced the sale of 10 million units of its new PS5 console, and US healthcare group CVS. Among the data releases we’ve got Australian and eurozone retail sales, and services PMI readings for France, Germany, the eurozone, the UK and the US. The ADP US employment report will also be watched closely ahead of Friday’s nonfarm payrolls.
Thursday 5 August
At midday the Bank of England’s Monetary Policy Committee will announce its latest decision on UK interest rates, at an historic low of 0.1% since March 2020. MPC members have recently made conflicting comments on the need to tighten monetary policy. We’ve also got German factory orders, German and UK construction PMI, and US trade balance. Earnings include vaccine producer Moderna, sportswear firm Adidas and mining group Glencore.
Friday 6 August
The highlight of the day is the US nonfarm payrolls for July, due at 13.30 UK time. June saw a better-than-expected rise of 850,000 jobs, and analysts expect a similarly healthy reading for July. In the UK the Halifax house price index could shed light on the housing market, while we’ll also be watching out for German industrial production data. Key earnings include German insurance group Allianz and Canadian car parts manufacturer Magna.
Published: 2 August 2021
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