S&P 500 ^GSPC 5,071.63 +0.02%
Tesla TSLA $162.13 +12.06%
Nvidia NVDA $796.77 -3.33%
Amazon AMZN $176.59 -1.64%
Apple AAPL $169.02 +1.27%
Alphabet GOOG $161.10 +0.74%
Meta META $493.50 -0.52%
Microsoft MSFT $409.06 +0.37%

This week, investors' attention in the United States will be directed mainly to the Fed's Beige Book, the trade balance for July and the ISM in services. In Germany, for example, the CPI for August and industrial production for July will be published.

Trade balance in the US

On Wednesday, the trade balance for July will be available in the United States. The market is forecasting a deficit of USD 68 billion. The reason for the month-on-month increase in the balance deficit is mainly due to strengthening domestic demand for consumer goods, automobiles and capital goods. The deficit should be partly offset by net exports of services.

ISM services in the United States

Wednesday will also offer the ISM services index in the US. The index is forecast to remain at the same level in August as in the previous month. Companies in the US should continue to be supported by household consumption on entertainment, especially cinemas (Barbie, Oppenheimer) and concerts (Taylor Swift, Beyoncé). According to Bloomberg, the index should see a decline in the fourth quarter, mainly due to cooling consumer demand.

The Fed's Beige Book

Two weeks before the Fed meeting, the so-called Beige Book is always published, which is the US central bank's report on the state of the US economy. This week, it will be published during Wednesday. Bloomberg expects the US economy to continue to be strongly supported by consumer spending on Barbie and Oppenheimer movies, as well as Taylor Swift and Beyoncé concerts. The effects from these cultural events are expected to peak in August, according to Bloomberg. Thus, despite the growth in consumer spending on entertainment, the U.S. economy should see a slowdown in growth. The S&P Services PMI was reported on Aug. 24. The index hit a six-month low at 51.0 pts. and orders also fell for the first time in six months.

New claims for unemployment benefits in the United States

According to analysts' forecasts, new claims are expected to reach 235,000 as of 2 September. The reason for the week-on-week increase is expected to be Hurricane Idalia, which hit Florida on 30 August.

CPI in Germany

Friday at 8:00 am we will hear the final August CPI reading in Germany. The market is forecasting a 6.1% year-over-year increase in the index. In July, the index rose by 6.2%. On a month-on-month basis, inflation is expected to rise by 0.3%.

Industrial production in Germany

Industrial production will be reported in Germany on Thursday. Analysts expect a further month-on-month decline. In June, production fell by 1.5%, now the market predicts a 0.5% decline. On a year-on-year basis, a decline of 2.1% is expected. According to the IFO survey, dissatisfaction among industrial enterprises with the current performance of their businesses is growing. Businesses' expectations for the coming months also remain very pessimistic.

Other indicators this week

Other macroeconomic indicators to be reported include the unemployment rate for August in the Czech Republic, 2Q GDP and the Eurozone PPI.

This week is quite boring in terms of macroeconomic data in the US, but there is something there after all. It's going to be mostly on the current investor sentiment...

The only interesting thing is the unemployment benefits... luckily we don't just have the US.

Yep, Canada and Australia have a lot going on this week.