What to look forward to this trading week
A new week is upon us and with it comes brand new opportunities. It is quite evident at this point that we are within a very strong bull trend in both the local and international equities. You might see a few comments about how overbought the markets are but this does not necessarily mean it is time to short equities. However it is imperative that traders and investors exercise caution as the reversal from this bull trend could be devastating should it find a trigger. With that in mind we have highlighted a few key events that traders need to watch out for this week.
Image: inquisitivemind.com
- Monday will be relatively muted as we are not expecting any significant economic data out of any of the major global financial centres. Locally, keep a look out for possible trading statements from companies that are expected to release results in the short-term.
- Japan kicks off Tuesday with Manufacturing PMI data and later on that morning we can expect similar data from the Eurozone. The USA will also release Manufacturing PMI data along with its Services PMI data later on that afternoon.
- On Wednesday, Australia starts the day with the release of CPI data which is expected to increase to 0.8% quarter-on-quarter. The United Kingdom comes into focus later on that morning as we expect the preliminary estimate of GDP which is expected to come in at 0.3% quarter-on-quarter. The USA is expected to release Durable Goods Orders data that afternoon, as well as New Home Sales and the weekly Crude Oil Inventories numbers. Canada is expected to announce its interest rate decision that afternoon but it is largely expected to remain unchanged.
- In the early hours of Thursday we expect New Zealand to release its Trade Balance numbers which is expected to show a minor improvement in the deficit. Major focus on the day will be on the ECB which is expected to announce its interest rate decision. Expectations are that the ECB will leave rates unchanged. From the USA, we can expect the weekly Initial Jobless Claims numbers as well as Pending Home Sales data. Locally, StatsSA is expected to release PPI data.
- Japanese CPI data gets us started on Friday as we expect the National and Tokyo Core CPI data. Australia is expected to release its PPI data before attention shifts to the USA for GDP numbers which are expected that afternoon.
Companies that are expected to release earnings this week include Adcorp Holdings, Peregrine Holdings, Coronation Fund Managers and Raubex Group.
We will be keeping tabs on the events in the markets. Check out our blog for market updates, insights from our GT247.com team, and our independent analysts. Not sure about a trade? Call the GT247.com Trading Desk on 087 940 6102, and bounce your idea off one of our dedicated traders.
Until next week, we wish you profitable trading!
Musa Makoni | Trading Specialist at GT247.com
