Week Ahead 28/8/23: Germany retail sales; China Caixin manufacturing PMI; US non-farm payrolls; UBS, Salesforce earnings

(Partial Video Transcript)

A lot of data to digest

Hello and welcome to the Week Ahead with IG. I'm Angela Barnes. There's a lot to get through, plenty of economic data in the week ahead.

Just to remind you that it's a bank holiday in the UK on Monday 28 August, so take note that UK equities, index futures, soft commodities and interest rates will be closed and all the full details are on the IG website for that.

Let's start in Australia then, on Monday, because we'll get the latest preliminary retail sales figures through for July. We'll also on Monday have the release of the Dallas Fed Manufacturing Index for August.

German consumer confidence expected to drop

On Tuesday in Germany we will have GfK consumer confidence data for September. Consumer confidence is expected to come in at -23.9 points, lower than the previous figure of -24.4

Let me bring up Germany's DAX chart, because it has been enjoying a rally which ended, as you can see, on Thursday. Losses in the construction technology and software sectors led shares lower.

But if I just switch that now to the intraday chart and we can see that sentiment has actually been picking up today, though, despite figures confirming Germany's economy stagnated in the second quarter. Final official data has confirmed this, adding to a bleak outlook as the country battles an industrial slowdown and stubborn inflation, of course, like many.

US job numbers out

Moving to the US, we will have the S&P Case-Shiller home price data as well as job opening numbers, CB consumer confidence data and API crude oil inventories; a busy day in the US as well on the data front there.

And then on Wednesday, back to Germany, we'll have the consumer latest consumer price index figures back to the US as well. This time we will have a second estimate on Q2 gross domestic product (GDP) figures as well as AGB employment change, pending home sales and EIA crude oil inventory.

On Thursday in Japan, we'll have industrial production figures and retail sales. In China, we'll also have manufacturing and services PMI data.

Then Germany as well, more data, retail sales and unemployment figures. We'll see how consumer spending then has hit the high street and online retailers.

Manufacturing data from China expected

And then we'll go back to the US. We also have the latest core personal consumption expenditure (PCE) price index data and initial jobless claims. And then on Friday,1 September, manufacturing data from China with the manufacturing purchasing managers' index (PMI), which came in at 49.3 in July, slightly better than the expected 49.2.

And then we will also have Q2 GDP figures from Canada and also US nonfarm payrolls, manufacturing PMI, FM manufacturing PMI and the latest Baker Hughes oil recount data also, all on Friday.

(For the remainder of Angela Barnes' interview, with Tony Batista from Tasty, please watch the video on this page.)