Feds Powell to speak at 10 AM ET on Friday August 27
Next week’s key events and releases will be highlighted by the Jackson Hole symposium which will take place from August 26 through August 28. The main speech made by Fed chair Powell, will take place on August 27 at 10 AM ET/1400 GMT.
The market will be focused on any time one projections from the Fed chair for taper. There have been a number of Fed officials who have expressed the desire to begin the taper sooner rather than later. However, Feds Kaplan – one of the more hawkish Fed Presidents – dialed back a bit on concerns if the Delta variants starts to impact production.
Other key events include:
Monday, August 23:
- Australia flash manufacturing and services PMI 7 PM ET/2300 GMT
- France flash manufacturing and services PMI. 3:15 AM ET/715 GMT. Estimate 57.1 manufacturing. 56.2 services
- German flash manufacturing and service PMI, 3:30 AM ET/730 GMT. Estimate 65.1 manufacturing and 61.0 services
- UK flash manufacturing and services PMI. 4:30 AM ET/830 GMT. Estimate 59.5 manufacturing and 59.0 services
- US flash manufacturing and services PMI. 9:45 AM ET/1345 GMT. Estimate 62.8 manufacturing and 59.1 services
Tuesday, August 24
- New Zealand retail sales, 6:45 PM ET Monday/2245 GMT Monday. Estimate 2.0% versus 2.5% last month. Core retail sales 1.9% versus 3.2% last month
- US new home sales, 10 AM ET/1400 GMT. Estimate 698K versus 676K last month
- US Richard Fed manufacturing index. 10 AM ET/1400 GMT. Last month 27.0
Wednesday, August 25:
- German Ifo business climate. 4 AM ET/800 GMT. Estimate 100.6 versus 100.8 last month
- US durable goods orders. 8:30 AM ET/1230 GMT. Estimate -0.2% versus +0.9% last month. Core durable goods +0.4% estimate versus +0.5% last month
- Weekly crude oil inventories. 10:30 AM ET/1430 GMT. Crude oil has been down for seven consecutive days
Thursday, August 26.
- US preliminary GDP 3Q. 8:30 AM ET/1230 GMT. Estimate 6.6% versus 6.5% for the first cut
- US unemployment claims. 8:30 AM ET/1230 GMT. Estimate 355K versus 348K last week
- Start of Jackson Hole symposium
Friday, August 27
- Australian retail sales, 9:30 PM ET Thursday/1330 GMT. Estimate -2.0% versus -1.8% last month
- US Core PCE price index MoM, 8:30 AM ET. Estimate 0.3% versus 0.4% last month
- Fed chair Powell speaks at Jackson Hole symposium. 10 AM ET/1400 GMT
- US revised University of Michigan consumer sentiment. Estimate 10 AM ET/1400 GMT. Estimate 71.2 versus 70.2 preliminary
Saturday, August 28
- Jackson Hole symposium
This article was originally published by Forexlive.com. Read the original article here.