Week Ahead

Meeting minutes from the Fed, ECB, RBA and RBI will be keenly watched next week, alongside flash PMI surveys for the US, Eurozone, Japan and Australia. Other important releases include US existing and new home sales; UK CBI factory orders; Eurozone flash consumer confidence; Japan inflation and trade balance; and Indonesia interest rate decision. Investors will also react to the Jackson Hole symposium and G7 summit.

In the US, investors will be waiting for the FOMC minutes due Wednesday for further clarification on the next monetary policy steps. The Federal Reserve slashed interest rates for the first time since 2008 during its July meeting as inflation remains subdued amid heightened concerns about the economic outlook and ongoing trade tensions with China. Other notable publications are flash Markit PMIs, and existing and new home sales.

Investors will also react to the Jackson Hole symposium and G7 summit next week.

Elsewhere in America, upcoming data include Canada inflation and retail trade; Mexico final second-quarter GDP figures; and Brazil business confidence. Chile and Peru are set to publish the first estimate of second-quarter GDP growth.

In the UK, the CBI is set to publish gauges for factory orders and distributive trades while the ONS will release updated data for July's public finances. Elsewhere in Europe, the ECB will publish the account of July's policy meeting, amid rising expectations that policymakers are set to announce new stimulus measures as soon as September. Regarding the economic calendar, flash Markit PMI numbers for the Eurozone, Germany and France are forecast to point to another month of contraction in the manufacturing sector. Traders will also keep an eye on the Eurozone flash consumer confidence and final inflation; Germany producer prices; Norway second-quarter GDP growth and unemployment data; Turkey consumer confidence and retail sales; and Switzerland industrial activity and trade balance.

Italy's Prime Minister Giuseppe Conte will address the Senate on the government's crisis and might face a vote of no confidence on August 20th.

Japan's Jibun Bank will be releasing flash PMI data, providing an update on manufacturing and services activity during August. The country's trade balance and inflation will also be keenly watched, with forecasts pointing to a further decline in Japanese exports while the core consumer inflation is seen steady at two-year lows. Meanwhile, all eyes are on Bank Indonesia's policy meeting as well as minutes from latest central bank meetings in Australia and India. Other highlights for the Asia-Pacific region include: Australia CommBank PMIs; New Zealand foreign trade; Thailand second-quarter GDP growth and trade balance; Taiwan export orders and industrial output; and Hong Kong and Singapore inflation rates.

Week Ahead

Joana Ferreira | joana.ferreira@tradingeconomics.com
8/16/2019 4:43:58 PM