Economic updates…what’s going on?
If you’re seeking a career in the finance sector, then the more commercially aware you are, the better your chances of passing the interview. It’s always good to track the markets and the economy - you will get asked about this at your interview! You can expect (among others) questions such as:
- What is the major trend in the oil price right now?
- What do you think the Bank of England will do next?
- What stocks are you watching and why?
- How is the Euro doing now?
To get an offer you need to be commercially aware - after all, how can you claim to be to want to work in the finance sector if you don’t have enough interest to open the FT or keep an eye on what is happening in the markets?
Below are some of the key economic indicators that will be released over the next week. If you would like to learn more about how these indicators affect the different markets - commodities, equities, bonds, foreign exchange and so on - then we recommend that you watch the video seminars on the Professional Trader Programme. Also, anyone who has completed the course is invited to our monthly Traders and Investors Club, where full-time traders, fund managers and investment bankers meet up to discuss the markets in depth. To get your invitation and find out more about trading and the markets visit www.benedix.co.uk/protrader.
Economy
The Federal Reserve, the European Central Bank and Bank of England announcing their interest rate decisions this week. This will probably be the main focus in the financial news, although all three are expected to hold their current rates. This means that any change will cause quite a response in the markets. However, with oil prices falling back, the committees may be feeling a little bit of relief. With the BoE having the highest interest rate and the poor economic data that we have seen recently, there is an off-chance that we may see an interest cut in the UK.
Monday 4th August
- 09:30 UK Construction PMI
- 13:30 US Personal Consumption Expenditures
- 13:30 US Personal Spending
- 15:00 US Factory Orders
Tuesday 5th August
- 00:01 UK Halifax Home Price Index
- 09:30 UK Manufacturing Production
- 09:30 UK Services Purchasing Managers Index
- 15:00 US Institute of Supply Management Non-Manufacturing (services)
- 19:15 US FOMC
Wednesday 6th August
- 00:01 UK Nationwide Consumer Confidence report
- 00:01 UK GDP Estimate
- 10:30 UK British Retail Consortium Shop Price Index
- 15:35 US Crude Oil Inventories
Thursday 7th August
- 12:00 UK Bank of England Monetary Policy Committtee (MPC) Interest Rate Statement
- 13:30 US Jobless claims
- 15:00 US Pending Home Sales
Friday 8th August
- 00:00 UK Nor results due
- 13:30 US Non-farm Productivity
- 13:30 US Unit labour costs
- 15:00 US Wholesale Inventories