The Weekly Macro Outlook
What’s shaping global markets this week and the key events traders need to watch. Read This Week's Macro OutlookWhat We Cover Each Week
Our Weekly Macro Outlook provides essential context for the week ahead, highlighting key economic releases, central bank activity, and the macro themes shaping market conditions.
It complements our flagship technical analysis research, helping traders stay aligned with the broader environment while focusing on the key events most likely to affect markets. Explore our latest technical analysis.
Read this week’s Weekly Macro Outlook:
The Macro Outlook for w/c 10 October 2022
Key events for the week ahead – US CPI, FOMC minutes, and US retail sales Recap from last week US labour market data for Sept was mostly in line with expectations. Payroll growth is slowing, but still high enough to indicate tight labour market conditions. The notable...
The Macro Outlook for w/c 3 October 2022
Key events for the week ahead – US non-farm payrolls, RBA & RBNZ policy decisions, US Fed speeches Recap from last week The BoE intervened with an emergency program to buy long-dated UK government bonds to “restore orderly market conditions”. The intervention was...
The Macro Outlook for w/c 26 September 2022
Key events for the week ahead – Central bank speeches including Fed Chair Powell, Eurozone CPI, and US PCE inflation Recap from last week Markets are continuing to digest the details of last week’s monetary policy decisions. High, and seemingly persistent, inflation...
The Macro Outlook for w/c 19 September 2022
Key events for the week ahead – FOMC, BoE, BoJ, and SNB policy decisions, CPI’s, central bank speeches, prelim PMIs for Sep Recap from last week; US inflation remains persistent. Headline US CPI increased by +8.2% in Aug (expecting +8.1%) after increasing by +8.5% in...
The Macro Outlook for w/c 12 September 2022
Key events for the week ahead – US CPI & retail sales Recap from last week; Central bank speeches and policy decisions continued to signal a firm commitment to address inflation to keep inflation expectations anchored. US Fed Chair Powell remained hawkish and kept...
The Macro Outlook for w/c 5 September 2022
Key events for the week ahead – Central bank policy decisions and speeches, including Fed Chair Powell, and global services PMIs US non-farm payrolls remained solid, coming in higher than expected at +315k (expecting +285k) for Aug. There was a notable downward...
The Macro Outlook for w/c 29 August 2022
Key events for the week ahead – US non-farm Payrolls, Fed speak, Euro area CPI for Aug, PMI’s Recap from last week The markets continue to digest the hawkish message from Jackson Hole – that central bankers (except the BoJ) are committed to addressing high inflation,...
The Macro Outlook for w/c 22 August 2022
Key events for the week ahead – Jackson Hole Economic Symposium Recap from last week The minutes of the Jul FOMC meeting quelled the idea of a dovish Fed pivot at this time. The minutes showed that moving to a “restrictive stance of policy was required” given the...
The Macro Outlook for w/c 15 August 2022
Key events for the week ahead – FOMC Minutes, RBA Minutes, RBNZ monetary policy meeting, US retail sales, inflation; UK, Canada, & Japan Recap from last week US headline CPI decelerated slightly more than expected to +8.5% in Jul (expecting +8.7%) - from +9.1% in...
The Macro Outlook for w/c 8 August 2022
Key events for the week ahead – US CPI Recap from last week US Fed speeches walked back market interpretations of a Fed ‘pivot’ from the last FOMC meeting. Speakers remained hawkish, signaling their commitment to bring down inflation, that there was ‘still a long way...
