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Week ahead: This is the semi-final of earnings season, FOMC meeting minutes in focus

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    The semi-final of the US earnings season is here with Walmart, Cisco Systems and Deere & Co some of the companies due to report earnings this week. The Reserve Bank of Australia and FOMC are due to release their monetary policy meeting minutes and the UK will post its retail sales data. What else should investors look out for?

     

    Monday

     

    The semi-final of US earnings season 

     

    At the start of the month, Goldman Sachs analysts said that the US earnings season has performed better than expected. By the start of last week, 87% of S&P 500 companies have reported earnings, 75% of those companies reported that their earnings per share (EPS) surpassed estimates. This week is the US earnings semi-final. While Monday is relatively quiet, later in the week investors should anticipate Walmart (WMT), Cisco Systems (CSCO), Applied Materials (AMAT) and Deere & Co (DE) all reporting their financial results.

     

     

    Tuesday

     

    How is Walmart holding up?

     

    At the end of July, Walmart shares slumped after the retailer cut its profit outlook on inflation concerns. Back then, Walmart said that it anticipates its adjusted earnings per share for the second quarter and full year to fall between 8 and 9% and 11 and 13% respectively. Previously, it expected them to be flat or slightly higher. What will the company’s earnings report show now?

     

    Reserve Bank of Australia (RBA) meeting minutes

     

    The Reserve Bank of Australia decided to hike interest rates by 50 basis points (bps) to 1.75%. Cash rate was raised to 1.87%. Inflation in the country is the highest it has ever been since the 1990’s at 6.1% in June. The RBA’s meeting minutes could suggest to investors what the bank’s stance is on further rate hikes.

     

    Wednesday

     

    Reserve Bank of New Zealand (RBNZ) monetary policy meeting

     

    The Reserve Bank of New Zealand hiked interest rates by 50 basis points in July for the third straight meeting in a row. Then, the central bank said it will continue to tighten its monetary policy “at pace” until inflation settles down. Inflation in June in New Zealand surged past 7% – a 32-year high.

     

    FOMC meeting minutes

     

    The Federal Reserve raised interest rates by 75 basis points at its two past meetings. FOMC meeting minutes are due to be released late on Wednesday, what else did officials talk about during the meeting?

     

    Friday

     

    UK retail sales data

     

    Consumer spending in the UK in July was stronger than pre-pandemic levels, however, the sector warned of an “incredibly difficult period”. UK retail sales grew 2.3% in July compared with the same period one year ago. What will the new values suggest?

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    Walmart (WMT) PMO 

       

       

        

       

     

    Economic calendar (BST) 

    Mon Aug 15 

    1:30am 

    NZD 

    BusinessNZ Services Index 

     

    2:01am 

    GBP 

    Rightmove HPI m/m 

     

    2:50am 

    JPY 

    Prelim GDP Price Index y/y 

     

     

    JPY 

    Prelim GDP q/q 

     

    5:00am 

    CNY 

    Retail Sales y/y 

     

     

    CNY 

    Fixed Asset Investment ytd/y 

     

     

    CNY 

    Industrial Production y/y 

     

     

    CNY 

    NBS Press Conference 

     

     

    CNY 

    Unemployment Rate 

     

    7:30am 

    JPY 

    Revised Industrial Production m/m 

     

    15th-16th 

    EUR 

    German WPI m/m 

     

    9:30am 

    CHF 

    PPI m/m 

     

    All Day 

    EUR 

    French Bank Holiday 

     

    All Day 

    EUR 

    Italian Bank Holiday 

     

    Tentative 

    EUR 

    German Buba Monthly Report 

     

    Tentative 

    EUR 

    German 10-y Bond Auction 

     

    3:30pm 

    CAD 

    Manufacturing Sales m/m 

     

     

    CAD 

    Wholesale Sales m/m 

     

     

    USD 

    Empire State Manufacturing Index 

     

    5:00pm 

    USD 

    NAHB Housing Market Index 

     

    11:00pm 

    USD 

    TIC Long-Term Purchases 

    Tue Aug 16 

    4:30am 

    AUD 

    Monetary Policy Meeting Minutes 

     

    7:30am 

    JPY 

    Tertiary Industry Activity m/m 

     

    9:00am 

    GBP 

    Average Earnings Index 3m/y 

     

     

    GBP 

    Claimant Count Change 

     

     

    GBP 

    Unemployment Rate 

     

    12:00pm 

    EUR 

    Trade Balance 

     

     

    EUR 

    ZEW Economic Sentiment 

     

     

    EUR 

    German ZEW Economic Sentiment 

     

    3:15pm 

    CAD 

    Housing Starts 

     

    3:30pm 

    CAD 

    CPI m/m 

     

     

    CAD 

    Common CPI y/y 

     

     

    CAD 

    Median CPI y/y 

     

     

    CAD 

    Trimmed CPI y/y 

     

     

    CAD 

    Core CPI m/m 

     

     

    CAD 

    Foreign Securities Purchases 

     

     

    USD 

    Building Permits 

     

     

    USD 

    Housing Starts 

     

    4:15pm 

    USD 

    Capacity Utilization Rate 

     

     

    USD 

    Industrial Production m/m 

     

    Tentative 

    NZD 

    GDT Price Index 

    Wed Aug 17  

    1:45am 

    NZD 

    PPI Input q/q 

     

     

    NZD 

    PPI Output q/q 

     

    2:50am 

    JPY 

    Core Machinery Orders m/m 

     

     

    JPY 

    Trade Balance 

     

    3:30am 

    AUD 

    MI Leading Index m/m 

     

    4:30am 

    AUD 

    Wage Price Index q/q 

     

    5:00am 

    NZD 

    Official Cash Rate 

     

     

    NZD 

    RBNZ Monetary Policy Statement 

     

     

    NZD 

    RBNZ Rate Statement 

     

    Tentative 

    NZD 

    RBNZ Statement of Intent 

     

    6:00am 

    NZD 

    RBNZ Press Conference 

     

    9:00am 

    GBP 

    CPI y/y 

     

     

    GBP 

    Core CPI y/y 

     

     

    GBP 

    PPI Input m/m 

     

     

    GBP 

    PPI Output m/m 

     

     

    GBP 

    RPI y/y 

     

    11:00am 

    CHF 

    Credit Suisse Economic Expectations 

     

    11:30am 

    GBP 

    HPI y/y 

     

    12:00pm 

    EUR 

    Flash Employment Change q/q 

     

     

    EUR 

    Flash GDP q/q 

     

    3:30pm 

    USD 

    Core Retail Sales m/m 

     

     

    USD 

    Retail Sales m/m 

     

    5:00pm 

    USD 

    Business Inventories m/m 

     

    5:30pm 

    OIL 

    Crude Oil Inventories 

     

    9:00pm 

    USD 

    FOMC Meeting Minutes 

    Thu Aug 18 

    4:30am 

    AUD 

    Employment Change 

     

     

    AUD 

    Unemployment Rate 

     

    12:00pm 

    EUR 

    Final CPI y/y 

     

     

    EUR 

    Final Core CPI y/y 

     

    3:30pm 

    CAD 

    IPPI m/m 

     

     

    CAD 

    NHPI m/m 

     

     

    CAD 

    RMPI m/m 

     

     

    USD 

    Philly Fed Manufacturing Index 

     

     

    USD 

    Unemployment Claims 

     

    5:00pm 

    USD 

    Existing Home Sales 

     

     

    USD 

    CB Leading Index m/m 

     

    5:30pm 

    Nat Gas 

    Natural Gas Storage 

    Fri Aug 19 

    1:45am 

    NZD 

    Trade Balance 

     

    2:01am 

    GBP 

    GfK Consumer Confidence 

     

    2:30am 

    JPY 

    National Core CPI y/y 

     

    6:00am 

    NZD 

    Credit Card Spending y/y 

     

    9:00am 

    CHF 

    Trade Balance 

     

     

    EUR 

    German PPI m/m 

     

     

    GBP 

    Retail Sales m/m 

     

     

    GBP 

    Public Sector Net Borrowing 

     

    11:00am 

    EUR 

    Current Account 

     

    3:30pm 

    CAD 

    Core Retail Sales m/m 

     

     

    CAD 

    Retail Sales m/m 


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