ETFdb Weekly Watchlist: EWC Awaits Canadian Trade & Employment Data, EWJ, EWU Hinge On BOJ And BOE

by on September 3, 2013 | ETFs Mentioned:

Wall Street was in for several down sessions last week, as investors turned their attention to escalating tensions in the Middle East. Following reports of the Syrian government using chemical weapons against its own people, President Obama along with several political leaders in Europe and the Middle East quickly responded and began talks regarding whether or not an intervention will be needed. As a result, U.S. equities traded lower while crude oil surged. Meanwhile, in economic news, U.S. GDP was revised up to a 2.5% annual rate versus the initial estimate of 1.7%. U.S. personal spending rose 0.1% in July, a slower rate than in June, while personal incomes rose only 0.1%, the slowest advance since April. This week, investors will once again see a slew of economic reports. Below, we outline three ETFs that should see a fair amount of activity during the week ahead [see The Best (And Worst) Performing ETFs For Every Quarter]:

1. MSCI Canada ETF (EWC, B)

Why EWC Will Be In Focus: This fund is designed to measure the performance of the Canadian equity market, and its focus will come into play several times throughout the week. On Wednesday, Canada’s trade balance, Bank of Canada Rate Statement, and overnight rate are slated to be released. The trade deficit is expected to shrink slightly from -0.5 billion to -0.4 billion, while the overnight rate is expected to remain at 1.00%. On Friday, the country will release its employment data; analysts expect the employment change to come in at 30.2K versus the previously recorded -39.4K decline. The unemployment rate, however, is expected to remain unchanged at 7.2% [see Single Country ETFs: Everything Investors Need To Know].

2. MSCI Japan ETF (EWJ, A+)Bank of Japan

Why EWJ Will Be In Focus: This fund is designed to measure the performance of the Japanese equity market, and it is home to over $10.8 billion in total assets. EWJ will come into focus on Thursday as the Bank of Japan releases its monetary policy statement. Investors should also keep a close eye on the BOJ press conference, as any commentary may affect this ETF.

3. MSCI United Kingdom ETF (EWU, A)

Why EWU Will Be In Focus: This ETF tracks an index that is comprised of roughly 100 securities, and it is designed to measure the overall performance of the British equity market. Investors should keep a close eye on EWU on Thursday as the Bank of England announces its rate decision and its asset purchase target. Both the rate and target are expected to remain unchanged at 0.50% and 375 billion, respectively [see also How To Pick The Right ETF Every Time].

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Disclosure: No positions at time of writing.