The US markets will be closed for Labour Day holidays on Monday. So, there won’t be much guidance for markets elsewhere.
But there will be plenty of economic data to digest that include US inflation numbers for August. The headline rate is expected to show a slight rise from 1% in July to 1.1%. That should please the Fed.
China could report a reduction in its trade balance with the rest of world. The balance of trade for August could come in at US$47 billion, which would be lower than the US$62 billion recorded in the previous month.
The European Central Bank will announce its latest interest-rate decision. It is expected to keep the benchmark rate unchanged at 0%. At its July meeting, the central bank indicated that stimulus measures would still be needed to support growth and inflation.
The Malaysian central bank will also announce its latest interest-rate decision. In July, it lowered the overnight policy rate to a record low of 1.75%. It could sit on its hands this time around.
And finally, the UK could say that the economy contracted 11% year on the year. It would be the fifth month in succession that the economy has shrunk year on year. Elsewhere, the UK housing market could register another rise from a year earlier. In July, house prices rose at their fastest pace since the start of the year.
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Disclosure: David Kuo does not own shares in any of the companies mentioned.
