Week Ahead 23/1/23: US GDP; Tesla earnings
There is a fair bit of US data next week, most of which has the potential to move the markets. However, IG analyst, Axel Rudolph FSTA, picks out the S&P 500 in response to US GDP.
Earnings come in from many companies, particularly in the US where most of the large cap businesses are all sessions on the IG platform. Axel chooses Tesla, drilling down from the weekly chart.
(Partial video transcript)
23/01
Let's take a look now at the week ahead for the week starting monday the 23rd of January. We begin with the economic calendar on Monday where we start off with the consumer confidence flash data for the eurozone. Be interesting for a euro/dollar trade, as we look at the beginning of next week.
24/01
Let's take a look at what's happening on Tuesday. Overnight we get the NAB business confidence, the National Australia Bank issuing details of what's happening in Australia. We've recently seen an uptick in retail sales. This is going to show through in the business confidence area in Australia.
Meanwhile, german GfK consumer confidence comes out a little bit later on in the morning along with eurozone, UK, US and S&P global manufacturing services PMI flash data gives an insight into how the purchasing managers are feeling about the outlook for the various economies.
And the weekly American Petroleum Institute crude oil inventories.
25/01
Take a look at Wednesday the 25th, we get Australian fourth quarter trimmed mean CPI, a snapshot of inflation within the Australian economy.
And then the Ifo business climate from Germany later on. At 1:30 in the afternoon, the Bank of Canada comes through an interest rate decision and a full monetary policy report.
Then there's a weekly EIA crude oil inventories to round off Wednesday.
26/01
On Thursday we get some big data coming through, its a first look at fourth quarter growth numbers, we also get durable goods, wholesale inventories and jobless claims and new home sales in the States, so bonanza of data out at 13:30 on Thursday UK time.
27/01
And then Friday personal income and spending in the US along with the PCE price data, pending home sales, and the weekly Baker Hughes oil rig count.
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