What Events Will Affect Your Trading This Week?

The British pound has been on a strong run over the last few weeks as the Bank of England grapples to get inflation under control with higher interest rates. On Wednesday at 09:00, we get the latest inflation data, where analysts predict a further decline to 8.2%.

The AUDUSD pair failed to break out to the upside last week, and with weaker-than-expected Chinese GDP released earlier, the shorts are coming for it. The RBA unexpectedly held interest rates at 4.1% in July, so the meeting minutes, released at 04:30 on Tuesday, will be very insightful for traders.

The NASDAQ 100's March north continues, with it hitting an 18-month high last week. Tesla has a 4.4% weighting in the index, and it releases its results on Wednesday after the market close. The shares are up 160% so far in 2023, so expectations are high. However, it does have previous form of not meeting analysts’ lofty estimates, so approach with caution.

The US earning season is in full swing, with the banks leading the way. After some fantastic numbers from JP Morgan last week, this week Morgan Stanley, Goldman Sachs and Bank of America update the market. Traditionally rising interest rates are beneficial for bank earnings but beware of the sting in the tail that is the provision for bad loans!

All times referenced are server time, GMT +3.