Central Banks Rounding up, Retail Sales and More in the Market

Several central banks, including the U.S. Federal Reserve have policy meetings this week, by the time the U.S. equity markets witnessed another week of losses led mainly by tech stocks. Apple, Facebook, Alphabet, and Amazon all fell 5% or more last week as sentiment has shifted away from 2020's winners. This takes place as the Senate failed to pass another bill and the Lost Wages Assistance Program emergency unemployment benefits have already started to run out of money in some states, making the hopes for more fiscal economic stimulus look merely false.

Events:

Monday, Sept. 14:

• Chinese Industrial Production (August)
• Chinese Unemployment
• Indian Consumer Price Index (CPI) (August)
• Eurozone Industrial Production (July)
• Japanese Industrial Production (July)
• Japanese Liberal Democratic Party Elects a New Party Leader

Tuesday, Sept. 15:

• U.K. Average Earnings Index (July)
• U.K. Unemployment Claimant Count Change (August)
• German ZEW Economic Sentiment Index (Sept.)
• Eurozone ZEW Economic Sentiment Index (Sept.)
• U.S. Industrial Production (August)

Wednesday, Sept. 16:

• U.S. Retail Sales (August)
• U.S. Federal Reserve Interest Rate Decision and Federal Open Markets Committee Statement (FOMC)
• Bank of Japan Interest Rate Decision
• Japanese Parliament Votes to Install a New Prime Minister

Thursday, Sept. 17:

• Bank of Japan Monetary Policy Statement and Press Conference.
• Eurozone Consumer Price Index (August)
• Bank of England Interest Rate Decision (September)
• U.S. Building Permits (August)
• Philadelphia Fed Manufacturing Index (September)

 Friday, Sept. 18:

• U.K. Retail Sales (August)
• Canadian Retail Sales (August)
• Preliminary Michigan Consumer Expectation and Sentiment (September)
• Quadruple Witching Options Expiration Occurs

These events/meetings will provide key indicators to the actual movement of economy, industry and retail markets now after the pandemic, and a useful tool to measure the effects.

Announcing Industrial Production

The Industrial Production in the upcoming week for the following countries will be announced: China and the U.S will be announcing August numbers, while Japan and the Eurozone will be announcing July numbers, his key indicator can help show the pace of the global recovery. Central Banks Round-up With the significant current events facing all nations, both the U.S. Federal Reserve and the Bank of Japan will announce interest rates, and the Fed will also give its press conference. This is the last scheduled Federal Open Market Committee (FOMC) meeting before the U.S. presidential election on Nov. 3, so this will be the last time the Fed will be expect to weigh in on the economy before Americans go to the polls. As for Japan, this serves the Japanese Prime Minister Shinzo Abe and his party, the Liberal Democratic Party that will be choosing a new party leader (after Abe who had to step down for health reasons), with the Japanese parliament voting on a new prime minister on the same day the central bank announces its new monetary policy. The Bank of England will also give its own interest rate decision and press conference as well. In the U.K., this is the last Bank of England Monetary Policy Committee meeting before the Oct. 15 EU summit, which U.K. Prime Minister Boris Johnson says the U.K.-EU trade deal must be done by if the U.K. and EU will have their new relationship worked out by the end of the transition period on Dec. 31, 2020. Retail Sales After COVID-19 infections flared again during the summer, many U.S. states reversed their openings and the speed of retail sales growth dropped to 1.2% in July, so this month may indicate how people are acting in aggregate. The U.S., U.K., and Canada all report retail sales this week. In the U.K., the Conservative government has been pushing hard for people to "Eat Out to Help Out," offering people discounts at restaurants to try and save that struggling industry. We'll see if that program, implemented at the beginning of August, has done anything to spur additional spending in that part of the retail sector.  

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