We bring you another regular summary of the most important economic events that affected our trading during the last trading week.
On Wednesday, we focused our attention mainly on GDP in the UK, which was slightly more pessimistic than expected for August (+0.4% - actual vs. +0.5% expected). Compared to the previous result for September (- 0.1%), however, GDP growth was noticeable and the overall result is thus positive on the whole.
Gross domestic product (GDP) measures the annualized inflation-adjusted change in the value of all goods and services produced by an economy. It is the broadest measure of economic activity and the primary indicator of the health of the economy. In general, higher than expected values are considered positive for GBP, while lower than expected values should be taken as bearish.
On Thursday, we were able to watch the results regarding employment changes in Australia. Employment change measures the change in the number of persons employed. Job creation is an important indicator of consumer spending.
Higher than expected values should be considered positive for AUD, while lower than expected values should be considered negative for AUD.
Last month's employment report showed a drop of 146,000. It was the worst since the global pandemic began. The current result is slightly more optimistic (- 138 thousand).
There is no reason to expect a quick improvement as the heavy blocking will continue until September. The good news in Australia and around the world is that the pandemic is not getting worse
During the week we were also interested in the speeches of Christine Lagarde (ECB President), which still revolve around rising inflation. Lagarde noted that the rise in inflation was to some extent driven by temporary factors...
What's in store for the current trading week?
On Wednesday, we turn our attention to the Consumer Price Index (CPI) results for the UK, Eurozone and Canada. A day later, on Thursday, the EU Leaders' Summit begins. However, Friday will bring us the most data with its retail sales in the UK and Canada.