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The week ahead: 03/10/22

This week we’ll see the latest trade balance figures for Germany, US and Australia, plus eurozone retail sales. The Halifax house price index will give us a sense of the impact of the cost-of-living crisis on the UK housing market, while in the US the key nonfarm payrolls data is released. We’ll also get updates from Greggs, Tesco, Constellation Brands, Conagra, Ferrexpo and JD Wetherspoon.

Monday 3 October

While China celebrates its National Day Golden Week, Japan releases its tankan survey of business conditions early on Monday morning. Manufacturing PMI data is published throughout the day for Australia (late on Sunday night), Japan, France, Germany, the eurozone, the UK and the US, along with the ISM’s own manufacturing PMI in the US.

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Tuesday 4 October

Early on Tuesday in Japan we’ll get the Tokyo CPI for September, followed by the RBA’s decision on Australian interest rates. In the US look out for August factory orders and the latest JOLTs labour market report. UK bakery chain Greggs will serve up a third-quarter trading update, after reporting a 27% year-on-year jump in half-year sales in August.

Wednesday 5 October

 
Tesco chart: 30/09/22 (click to expand image)

UK supermarket Tesco makes its interim results announcement on Wednesday. The high-street giant is facing stiff competition in the grocery market from budget rivals Aldi and Lidl. Services PMI data is released for Australia (late on Tuesday), Japan, France, Germany, the eurozone, the UK and the US, while the ISM reveals its non-manufacturing PMI for the US. We’ll also see the latest German trade balance and, in the US, the ADP national employment report and the August trade balance.

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Thursday 6 October

On Thursday we expect earnings from US drinks firm Constellation Brands and consumer goods brand operator Conagra, and a production report from mining company Ferrexpo. Notable macroeconomic data includes the Australian trade balance for August,  German factory orders, eurozone, French, German and UK construction PMI, and eurozone August retail sales. In July retail sales in the eurozone increased by 0.3%, a decline of 0.9% year-on-year.

Go long or short of UK, US and German equities.

Friday 7 October

The UK housing market is in the spotlight on Friday with the latest Halifax house price index. In August the average house price rose by 0.4%, for an annual growth rate of 11.5%. Also keep an eye out for Japanese household spending and German industrial production. Meanwhile in the US, the September nonfarm payrolls figure is revealed, along with average earnings and the unemployment rate. UK pub operator JD Wetherspoon is also due to announce full-year results.

Published: 3 October 2022

You should under no circumstances consider the information and comments provided as an offer or solicitation to invest. This is a macro summary of scheduled news announcements and is not investment advice, independent research or an investment recommendation. The information provided is believed to be accurate at the date the information is produced.

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