By Admiral Markets
Need to Know
The upcoming trading week is fully focused on inflation rates and unemployment levels. The United Kingdom and Canada will offer new inflation data points. The UK, France, and Australia will also release their newest unemployment statistics.
Australia’s RBA Meeting Minutes on Tuesday, 15 August
The Reserve Bank of Australia (RBA) will release its meeting minutes and views of the most recent board meeting where it discusses the monetary policy decisions for Australia. Typically, the meeting minutes are announced two weeks after the interest rate decision has been made.
Why should you care? The RBA offers details regarding their view on the current economic trends and how they plan to respond to future developments. It is therefore a useful announcement to understand potential interest rate changes.
GDP Growth Rate from Germany on Tuesday, 15 August
The Gross Domestic Product (GDP) number will indicate the total economic value of all goods and services produced in Germany. This is the first (preliminary) release of the GDP, which occurs approximately 45 days after the previous quarter.
Why should you care? The GDP offers an insight into the general economic health of the country. The previous yearly GDP rate is 1.7%, whereas the forecasted figure stands at 1.9% (*). The previous quarterly GDP rate is 0.6%, with the forecasted figure at 0.7% (*).
UK’s Inflation Rate on Tuesday, 15 August
The inflation rate is expected to be announced in the United Kingdom, which indicates whether the price of goods and services has changed. This inflation rate is used by the central bank to assess whether they are getting closer to the official target of 2%.
Why should you care? The inflation rate is a key component in making decisions on the interest rate. The previous inflation rate is 2.6%, and the current forecast is for 2.7% (*).
US Retail Sales on Tuesday, 15 August
The retail sales indicate the total amount of purchases made by consumers. A rise in the number indicates a bullish economy, whereas a decline, a bearish one.
Why should you care? Consumer spending is an important indicator of the economic performance. The previous monthly retail sales are -0.2%, and the current forecast is 0.4% (*).
Great Britain’s Unemployment Rate on Wednesday, 16 August
The unemployment rate shows how many people failed to find employment in the past three months, as compared to the overall work force.
Why should you care? Lower unemployment is beneficial for the economic health of the UK. The previous unemployment rate is 4.5%, with the current forecast being 4.5% (*).
Source: UK’s Unemployment Rate from 2011 to 2017
Following the UK, France and Australia will also release their unemployment levels.
Why should you care? The previous figure for France is 9.6% (*). The previous figure for Australia is 5.6%, with the current forecast being 5.6% as well (*).
Inflation levels are monitored by Central Banks due to the fact that they are a critical component of any interest rate change. The inflation rate indicates the change in the prices that consumers pay for all goods and services in the economy.
Why should you care? The previous figure for the inflation rate is 1.0%; the current forecast, 1.2% (*).
Article by Admiral Markets
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