Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

Economic Calendar - Top 5 Things to Watch This Week

Economy Aug 09, 2020 06:39AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.
 
CSCO
-1.41%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
AMAT
-2.95%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
OXY
-1.06%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
TPR
-1.59%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
MAR
-0.26%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DX
-0.04%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Noreen Burke

Investing.com -- With stock markets now in the August doldrums investors this week will stay focused on the twin risks of heightened U.S.- China tensions and developments in Washington on the next round of coronavirus pandemic relief. Market participants will also be watching the dollar, which despite a rebound after Friday’s U.S. jobs report notched up its seventh straight weekly loss, the longest such streak in a decade. On the economic calendar, Thursday will bring the weekly jobless claims numbers, followed by retail sales figures for July on Friday. China is also to release a deluge of what will be closely watched economic data and earnings season will enter the final stretch. Here’s what you need to know to start your week.

  1. Double trouble

After failing to reach a deal with the U.S. Congress for a fresh round of coronavirus pandemic relief, President Donald Trump on Saturday signed a series of executive orders aimed at bolstering the hard-hit economy.

However, details on how the measures could be funded remain unclear and Democrats have already warned that such executive orders are legally dubious and would likely be challenged in court.

Uncertainty over fresh stimulus measures coincides with a renewed deterioration in ties between Washington and Beijing. Last week Trump unveiled sweeping bans on Chinese tech firms TikTok and Tencent, escalating a high-stakes confrontation over the future of the global tech industry.

Uncertainty associated with the dual risks will likely continue to act as a dampener on market sentiment, analysts said.

  1. Dollar weakness

The U.S. Dollar bounced on Friday after jobs numbers for July helped ease some investor worries on the U.S. labor market, but the currency logged a seventh straight week of declines.

While the U.S. economy added a slightly larger than forecast 1.76 million jobs last month it was still sharply lower than the record 4.8 million in June.

Sentiment has turned against the greenback due to a combination of rising U.S. coronavirus infections, a steady decline in Treasury yields, and a lack of consensus in Washington over additional stimulus.

Analysts say the dollar will continue to fall, particularly against the euro, the yen and Swiss franc, as expectations for a V-shaped recovery from the pandemic fades and investors take a more sanguine view of markets.

"I see further dollar weakness," said Michael McCarthy, chief market strategist at CMC Markets in Sydney.

"Optimism for an economic recovery is not backed up by the data. Safe-havens are very high, but stocks are also high, which doesn't make sense. The party has to end at some point."

  1. U.S. economic data

Data this week covers July so should remain largely upbeat, with Friday’s reports on industrial production and retail sales expected to show that the recovery from lockdown measures continued. A separate report on preliminary consumer sentiment for August will offer insight into whether the economy can continue to recover amid the pandemic.

Ahead of that, Thursday’s weekly report on initial jobless claims will show whether job losses continued their decline after last week’s figures showed the lowest weekly total since late March when layoffs around the U.S. exploded due to statewide lockdowns.

Wednesday’s consumer price inflation data will also be in the spotlight amid expectations that inflation will eventually start to creep higher on the back of a weaker dollar and the bloated budget deficit. U.S. CPI rebounded in June after three straight monthly declines.

  1. China data dump

China, the first country to be struck by the pandemic is set to release a raft of economic data this week with investors looking for signs that the recovery in the world's second-largest economy can be sustained.

Data on Friday is expected to show that industrial production remained steady last month while retail sales are expected to return to positive territory after contracting. The economic calendar also features updates on fixed investment, consumer and home price inflation, along with monetary and lending indicators.

Meanwhile, senior U.S. and Chinese officials will review the implementation of their Phase 1 trade deal during a video conference on Saturday.

  1. Earnings wind down

Earnings season is entering the final stretch and some of the bigger names reporting this week include Marriott International (NASDAQ:MAR), Occidental Petroleum (NYSE:OXY), Tilray (NASDAQ:TLRY), Canopy Growth (NYSE:CGC), SeaWorld (NYSE:SEAS) and Barrick Gold (NYSE:GOLD) on Monday. Softbank (OTC:SFTBY) is due to report on Tuesday, followed by Cisco Systems (NASDAQ:CSCO) and Lyft (NASDAQ:LYFT) on Wednesday. Coach parent company Tapestry (NYSE:TPR) and Applied Materials (NASDAQ:AMAT) are among the names to report on Thursday.

With the second-quarter corporate earnings season largely over, about 82% of S&P 500 companies that have reported so far have beaten dramatically lowered estimates, with earnings on average coming in 22.5% above expectations, the highest on record according to Reuters data.

--Reuters contributed to this report

Economic Calendar - Top 5 Things to Watch This Week
 

Related Articles

Swiss franc not highly valued - SNB's Jordan
Swiss franc not highly valued - SNB's Jordan By Reuters - Sep 30, 2022

ZURICH (Reuters) - The Swiss franc is not highly valued despite its nominal rise, Swiss National Bank Chairman Thomas Jordan told a Swiss newspaper, adding the central bank...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (17)
Kerstin Haraldsdotter
Kerstin Haraldsdotter Aug 10, 2020 4:50AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
How can you allow these ads on BTC when you know they are scamcompanies This lowers my trust to you really
Lukhangele Nombona
Lukhangele Nombona Aug 09, 2020 7:09PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
are we no trade
Francis Nwafor
Francis Nwafor Aug 09, 2020 6:08PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
can anyone analyze this stimulus parckage for Americans next week ie are we expecting a deal or no deal please .
Show previous replies (2)
Jurgen Daub
Jurgen Daub Aug 09, 2020 6:08PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
dity piece of deception to the american people for own profit as usual. wondering who will fall in the trap.....
Joseph Amabile
Joseph Amabile Aug 09, 2020 6:08PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Zack Harding well played Potus
Zack Harding
Zack Harding Aug 09, 2020 6:08PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Jurgen Daub ...no more deception than the 2 Trillion the Democrats are trying to force down our throats...95% of that, the Anerican people will never see, just another pork package.
Zack Harding
Zack Harding Aug 09, 2020 6:08PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Jurgen Daub , Trump was a Democrat most his life...fiscally he still is. He just woke up to the asinine progressive agenda destroying life and family. This should surprise nobody. It is like having Clinton in office again with much more experience and spine.
john kelly
john kelly Aug 09, 2020 6:08PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Zack Harding  says who?You.......Bwahahahahah.....Please.
Gary Friauf
Gary Friauf Aug 09, 2020 5:00PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I believe the dollar has put in a floor and will recover this week. I plan on opening a short futures position in the EUR/USD at the open tonight.
Bernardo Ottoni
Bernardo Ottoni Aug 09, 2020 5:00PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Yup, trade agaisnt whatever these articles say and you should be golden 99% of the time.
Jay West
Jay West Aug 09, 2020 4:40PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Market up monday thumbs up. Market down monday thumbs down.
Zack Harding
Zack Harding Aug 09, 2020 4:40PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Lol, 8-8. Current futures are down.
khalil Rad
khalil Rad Aug 09, 2020 4:14PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I totally disagree with your forecast for the dollar. unfortunately, some companies earn money to give wrong information
Camaro Camero
Camaro Aug 09, 2020 3:59PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
It's going to be a GREAT week! I can't wait for Monday.
Jay West
Jay West Aug 09, 2020 3:59PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
What is your justification? I am hoping for the same.
Zack Harding
Zack Harding Aug 09, 2020 3:59PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Jay West ,He has a tickle in his belly
AIT Crypto
AIT Crypto Aug 09, 2020 2:22PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Conclusively dollar is coming down this week right?
Jerry Lubitsky
Jerry Lubitsky Aug 09, 2020 11:06AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Keep an eye on ChinaE V auto stocks.They may surprise
NCT PRODUCTION
NCT PRODUCTION Aug 09, 2020 10:43AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
What is gold how much reaching
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email