FXOpen UK: Your Financial Market Weekly Digest

 [] [FXOpen]( [Client Portal]( [Financial Market News] US earning season continues this week with chip maker Nvidia and networks giant Cisco among the tech firms to keep an eye on. On the macro front, the RBNZ could provide some early morning volatility on Wednesday with their Interest Rate decision. [ [Trade now]( Economic data releases Tuesday, August 17 1:30am*: Australia (the Australian dollar, AUD$): Monetary Policy Meeting Minutes This detailed record provides in-depth insights into the economic conditions that affected the Reserve Bank of Australia Reserve Bank Board's decision on where to set interest rates. * Hereinafter, UTC 12:30pm: US (the US dollar, USD$): Core Retail Sales m/m (also known as Retail Sales Ex Autos) Previous index: 1.3%, forecast: 0.2% Measures change in the total value of sales at the retail level munus automobiles: auto sales account for about 20% of retail sales, but this index is quite volatile and often distorts the underlying trend. The Core data is therefore considered to be a better gauge of spending trends. Retail Sales m/m (also known as Advance Retail Sales) Previous index: 0.6%, forecast: -0.2% Measures change in the total value of sales at the retail level, and is the earliest and broadest look at vital consumer spending data, which, in turn, accounts for the majority of overall economic activity. 5:30pm: US (the US dollar, USD$): Federal Reserve Chair Jerome Powelll Speaks Powell is due to speak at an online town hall event and answer some unscripted audience questions. As head of the central bank, he tends to influence the nation's currency value by dropping clues regarding future monetary policy Wednesday, August 18 2:00am: New Zealand (the New Zealand dollar, NZD$): Official Cash Rate (also known as Interest Rates, OCR) Previous index: 0.25%, forecast: 0.50% After consulting senior bank staff and external advisers, the governor of the Reserve Bank of New Zealand makes the decision about where to set the rate. This index measures the interest rate at which banks lend balances held at the RBNZ to other banks overnight. RBNZ Monetary Policy Statement The RBNZ details how they will achieve their inflation targets, how they propose to formulate and implement monetary policy during the next five years, and how monetary policy has been implemented since the last statement's release. The Statement provides valuable insight into the bank's view of economic conditions and inflation. RBNZ Rate Statement (also known as Policy Assessment, Interest Rate Statement) One of the primary tools the RBNZ uses to communicate with investors about monetary policy. The Statement lists the decisions on interest rates and commentary about the economic conditions that influenced said decision; it also discusses the economic outlook and offers clues on the outcome of future decisions. 3:00am: New Zealand (the New Zealand dollar, NZD$): RBNZ Press Conference (also known as Monetary Policy Statement Media Conference) The half an hour conference has two parts: reading of a prepared statement, then answering unscripted press questions. 6:00am: UK (pound sterling GBP£): Consumer Price Index y/y Previous index: 2.5%, forecast: 2.3% The index measures the shift in the price of goods and services purchased by consumers and is considered to be the UK's most important inflation data. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates as part of the inflation containment mandate. 12:30pm: Canada (the Canadian dollar, CAD$): CPI m/m (also known as All Items CPI) Previous index: 0.3% The index measures change in the price of goods and services purchased by consumers. Thanks to its earliness and broad scope, the report is one of the most important inflation-related releases. 6:00pm: US (the US dollar, USD$): Federal Open Market Committee Meeting Minutes A detailed record of the FOMC's most recent meeting, providing in-depth insights into the economic and financial conditions that influenced their vote on where to set interest rates. Thursday, August 19 1:30am: Australia (the Australian dollar, AUD$): Employment Change Previous index: 29.1k, forecast: -46.0k This report measures the change in the number of employed people during the previous month. Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity. Unemployment Rate (also known as Jobless Rate) Previous index: 4.9%, forecast: 5.0% This report measures the percentage of the total workforce that is unemployed and actively seeking employment during the previous month. Despite being a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Friday, August 20 6:00am: UK (pound sterling GBP£): Retail Sales m/m (also called Sales Volume, All Retailers sales) Previous index: 0.5%, forecast: 0.5% Measures change in the total value of inflation-adjusted sales at the retail level. 12:30pm: Canada (the Canadian dollar, CAD$): Core Retail Sales m/m (also known as Retail Sales Ex Autos) Previous index: -2.0%, forecast: 4.9% Measures change in the total value of sales at the retail level — minus automobiles which may account for up to 20% of retail sails but tend to be too volatile and distort the broad picture. We hope our newsletter will help you shape your trading plan for this week. 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