Upcoming economic events 2 September 2024

Time(GMT+0/UTC+0)	State	Importance	Event	Forecast	Previous
01:30		2 points	Building Approvals (MoM) (Jul)	2.4%	-6.5%
01:30		2 points	Company Gross Operating Profits (QoQ) (Q2)	-0.6%	-2.5%
01:45		2 points	Caixin Manufacturing PMI (Aug)	50.0	49.8
08:00		2 points	HCOB Eurozone Manufacturing PMI (Aug)	45.6	45.6

Summary of Upcoming Economic Events on September 2, 2024

1. Australia Building Approvals (MoM) (Jul) (01:30 UTC): Monthly change in the number of new building approvals. Forecast: +2.4%, Previous: -6.5%.
2. Australia Company Gross Operating Profits (QoQ) (Q2) (01:30 UTC): Quarterly change in gross operating profits of Australian companies. Forecast: -0.6%, Previous: -2.5%.
3. China Caixin Manufacturing PMI (Aug) (01:45 UTC): Measures activity in China’s manufacturing sector. Forecast: 50.0, Previous: 49.8.
4. Eurozone HCOB Eurozone Manufacturing PMI (Aug) (08:00 UTC): Measures activity in the Eurozone’s manufacturing sector. Forecast: 45.6, Previous: 45.6.

Market Impact Analysis

• Australia Building Approvals: An increase would indicate a recovery in the housing sector, supporting AUD and signaling economic growth. A further decline could indicate continued weakness in the construction industry.
• Australia Company Gross Operating Profits: A smaller decline in profits would suggest improvement in business conditions, supporting AUD. A larger decline might indicate ongoing challenges for Australian companies.
• China Caixin Manufacturing PMI: A PMI reading of 50.0 indicates no change, suggesting stabilization in the manufacturing sector. A figure below 50 suggests contraction, which could pressure CNY and impact global markets, particularly commodities.
• Eurozone Manufacturing PMI: A reading below 50 indicates contraction in the manufacturing sector, potentially impacting EUR. A stable or rising PMI would suggest some improvement or stabilization in the sector.

Overall Impact

• Volatility: Moderate, with potential reactions in equity, currency, and commodity markets, especially related to AUD, CNY, and EUR.
• Impact Score: 6/10, indicating moderate potential for market movements.