Talking Points
- In the US, inflation figures on Friday will be top of the agenda.
- In the UK, the focus will be on industrial production and trade data.
-There’s also a meeting of OPEC and non-OPEC officials to discuss compliance.
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In this video, DailyFX Analyst and Editor Martin Essex tells Katie Pilbeam about the key data and events that will likely drive the markets in the week ahead. These include UK trade and industrial production, US inflation and a meeting of officials from both OPEC members and non-members.
The UK economy is still reeling from the Bank of England’s downgrade of growth prospects and a lack of confidence in the future because of Brexit. Meanwhile, the US is still absorbing news of a larger-than-expected increase in non-farm payrolls.
Looking ahead, US consumer price figures are due out on Friday. Offering a first look into inflation for the month of July, expectations have been penned in for Friday’s CPI data to show month-on-month growth of 0.2%.
Elsewhere, officials from OPEC and non-OPEC member countries are expected to convene in Abu Dhabi to discuss compliance issues over Monday and Tuesday – with declining US inventories due mostly to the US driving season, we could witness a more upbeat week for crude though the oil glut continues.
--- Written by Martin Essex, Analyst and Editor, and Katie Pilbeam.
To contact Martin, email him at martin.essex@ig.com
Follow Martin on Twitter @MartinSEssex
To contact Katie, email her at katie.pilbeam@ig.com
Follow Katie on Twitter at @KatiePilbeamIG
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