This week, investors will focus on US Federal Reserve Chairman Jerome Powell's speech at the Central Bank's annual conference in Jackson Hole, where he will share his views on the future trajectory of interest rates. Fed executives reiterated that there is still much work to be done in their fight against inflation, pushing back against expectations of peak inflation. Investors should also keep an eye on the US GDP data as fears about the prospect of a recession persist. Also, on Tuesday, Eurozone countries will publish important data on manufacturing and services PMI.
Monday, August 22
On Monday, investors should focus on the China Central Bank interest rate decision. Analysts predict that the PBoC will continue to cut rates to offset the economic slowdown. Important economic events are not planned at the European and American sessions so that the volatility will be calm.
Main events of the day:
- – China PBoC Loan Prime Rate at 04:15 (GMT+3).
Tuesday, August 23
Tuesday will bring various Manufacturing PMI and Services PMI statistics for many countries. July's data in the Eurozone dipped below 50, indicating a decline in business activity. This time PMI numbers are expected to deteriorate again as energy prices in the Eurozone continue to rise. Traders should also pay attention to inflation data in Singapore.
Main events of the day:
- – Singapore Consumer Price Index (m/m) at 08:00 (GMT+3);
- – Australia Manufacturing PMI (m/m) at 02:00 (GMT+3);
- – Australia Services PMI (m/m) at 02:00 (GMT+3);
- – Japan Manufacturing PMI (m/m) at 03:30 (GMT+3);
- – Japan Services PMI (m/m) at 03:30 (GMT+3);
- – Eurozone French Manufacturing PMI (m/m) at 10:15 (GMT+3);
- – Eurozone French Services PMI (m/m) at 10:15 (GMT+3);
- – Eurozone Germany Manufacturing PMI (m/m) at 10:30 (GMT+3);
- – Eurozone Germany Services PMI (m/m) at 10:30 (GMT+3);
- – Eurozone Manufacturing PMI (m/m) at 11:00 (GMT+3);
- – Eurozone Services PMI (m/m) at 11:00 (GMT+3);
- – UK Manufacturing PMI (m/m) at 11:30 (GMT+3);
- – UK Services PMI (m/m) at 11:30 (GMT+3);
- – US Manufacturing PMI (m/m) at 16:45 (GMT+3);
- – US Services PMI (m/m) at 16:45 (GMT+3);
- – US New Home Sales (m/m) at 17:00 (GMT+3).
Wednesday, August 24
On Wednesday, investors will focus on US Core Durable Goods Orders as well as US Pending Home Sales. The US Real Estate Market is already showing recessionary signs, so the new data will provide more insight to reassess the real estate market. The US Crude Oil Reserves data, which greatly impacts oil prices, should also be on the trader's list.
Main events of the day:
- – US Core Durable Goods Orders (m/m)at 15:30 (GMT+3);
- – US Pending Home Sales (m/m) at 17:00 (GMT+3);
- – US Crude Oil Reserves (w/w) at 17:30 (GMT+3).
Thursday, August 25
On Thursday, the annual meeting of politicians will begin in Jackson Hole, and this event is worth paying particular attention to. Investors should also keep a close eye on US GDP data for the quarter. Analysts predict a 0.8% economic slowdown, indicating that the US is heading into a recession. Traders should closely watch the July ECB monetary policy meeting minutes to see how significant the rate hike will be in September.
Main events of the day:
- – New Zealand Retail Sales (q/q) at 01:45 (GMT+3);
- – Eurozone Germany GDP (q/q) at 09:00 (GMT+3);
- – Eurozone Germany Ifo Business Climate (m/m) at 11:00 (GMT+3);
- – Eurozone ECB Monetary Policy Meeting at 14:30 (GMT+3);
- – US GDP (q/q) at 15:30 (GMT+3);
- – US Initial Jobless Claims (w/w) at 15:30 (GMT+3);
- – Jackson Hole Symposium at 16:00 (GMT+3);
- – US Natural Gas Storage (w/w) at 17:30 (GMT+3).
Friday, August 26
The most important Friday release is the US PCE Price Index, which is on the Fed's list of inflation indicators for regulating monetary policy. Fed Chairman Jerome Powell will address the public, where investors will look for clues as to how US interest rates may rise and how long they should remain at elevated levels.
Main events of the day:
- – Japan Tokyo Core CPI (m/m) at 02:30 (GMT+3);
- – US PCE Price Index (m/m) at 15:30 (GMT+3);
- – Jackson Hole Symposium at 16:00 (GMT+3);
- – US Fed Chair Powell Speaks at 17:00 (GMT+3);
- – US Michigan Consumer Sentiment (m/m) at 17:00 (GMT+3).
by , 2022.08.22
We advise you to get acquainted with the daily forecasts for the major currency pairs.This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
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