The Weekly Macro Outlook

What’s shaping global markets this week and the key events traders need to watch.
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What 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.

Published consistently across multiple market cycles, it provides a forward-looking view on the week ahead:

◾Key economic data and global releases

◾Central bank policy and communication

◾Inflation, growth, and broader macro trends

◾Geopolitical developments

Latest Macro Outlook:

The Macro Outlook for w/c 30 September 2024

Key events this week – US non-farm payrolls, US Fed Chair Powell speech, Eurozone CPI prelim, S&P global PMIs - final Recap from last week - Signs of progress on US PCE Inflation Last week, Fed speeches confirmed broad support for the FOMC’s decision to start...

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The Macro Outlook for w/c 23 September 2024

Key events this week – US PCE inflation, Fed speeches, RBA & SNB meeting, Aus CPI, S&P Prelim PMIs Sept Recap from last week Last week, the FOMC joined the shift towards easing monetary policy settings. The FOMC began its rate-cutting cycle with a 50bps...

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The Macro Outlook for w/c 16 September 2024

Key events this week – FOMC, BoJ, and BoE meetings, US retail sales, CPI: Japan, UK, and Canada Recap from last week The US CPI report for Aug was a little mixed given the unexpected firmness in core CPI. Recent comments by Fed Chair Powell have noted that ‘the job is...

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The Macro Outlook for w/c 9 September 2024

Key events this week – US CPI & PPI, ECB policy meeting Recap from last week The US labor market hiring continued to slow in Aug while the unemployment rate edged only slightly lower. Last week, US Fed Governor Waller noted that the risks to the labor market have...

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The Macro Outlook for w/c 2 September 2024

Key events this week – US non-farm payrolls & labor market update, ISM surveys, US Fed Governor Waller speech, BoC policy meeting Outlook for the week ahead This week, the focus will be on the Aug US labor market update and its implications for the path of US...

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The Macro Outlook for w/c 19 August 2024

Key events this week – Jackson Hole Symposium, FOMC, RBA, & ECB minutes, Japan & Canada CPI, S&P prelim PMIs Aug Recap from last week Data last week provided important inputs for the FOMC as it considers the case for rate cuts. At the last meeting, Fed...

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The Macro Outlook for w/c 12 August 2024

Key events this week – US CPI, PPI, & retail sales, UK CPI, RBNZ meeting, Aus labour market, GDP; Eurozone, UK, & Japan Recap from last week The week began with heightened fears of a slowdown in US growth amid significant market turbulence. Despite a light...

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The Macro Outlook for w/c 5 August 2024

Key events this week – US ISM services PMI, RBA monetary policy meeting Recap from last week The FOMC kept policy settings unchanged, however, noted that it is getting closer to the point at which it will be appropriate to reduce the policy rate. “…that the broad...

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The Macro Outlook for w/c 22 July 2024

Key events this week – US PCE inflation & Q2 GDP, Bank of Canada policy meeting, S&P prelim PMIs Jul Recap from last week Both US Fed Chair Powell and Fed Governor Waller continued to reiterate the shift to a more balanced focus of the Fed’s dual mandate....

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