This week’s key economics events are centered on speeches by high-ranking central bank officials including speeches by Reserve Bank of New Zealand
This week’s key economics events are centered on speeches by high-ranking central bank officials including speeches by Reserve Bank of New Zealand governor Graeme Wheeler early Tuesday at 2100 GMT (9am local time) and Bank of Japan governor Haruhiko Kuroda at 0400 GMT (1pm in Tokyo, Japan). The topic of Wheeler’s speech is Monetary policy changes in turbulent times. Kuroda is expected to talk about monetary policy and the impact of negative interest rates.
Book-ending the week, will be a speech by Fed Chair Janet Yellen. She is set to deliver a speech on Friday at 1400 GMT (10am ET) at the Federal Reserve Bank of Kansas City’s annual economic policy symposium at Jackson Hole, Wyoming. Investors will be watching closely for comments on the U.S. economy and for any indications of when the Fed may raise rates.
On Tuesday 0730 GMT Germany will publish its Flash Manufacturing PMI and Flash Services PMI. The former is expected to come in at 53.7 versus 53.8 the previous month. The latter at 54.3, down from the previous 54.4.
At 0800 GMT Euro Zone Flash Manufacturing PMI is expected to come in at 52.1, up from 52.0 the previous month. Flash Services PMI is expected to show a reading of 53.0 versus 52.9.
On Tuesday at 1400 GMT the U.S. will release its latest figures on New Home Sales. The report is expected to show a decrease from 592K to 575K.
Late Tuesday at 2245 GMT look for New Zealand’s Trade Balance to come in at minus 320M versus 127M.
Australian Quarterly Construction Work Done is expected to decline 1.9% versus minus 2.6%. Look for this report on Wednesday at 0130 GMT.
Germany will release its Final GDP for the quarter on Wednesday at 0600 GMT. Traders are looking for a slight decline from 0.4% to 0.3%.
At 1400 GMT on Wednesday, the U.S. will release its latest data on Existing Home Sales. The report is expected to show a slight decline from 5.57M to 5.55M.
On tap Thursday at 0800 GMT is the German Ifo Business Climate report. Look for a reading at 108.5, up from 108.3.
This is followed closely by U.S. Core Durable Goods Orders at 1230 GMT. Look for this report to show a big turnaround from minus 0.4% to 0.4%.
On Friday at 0830 GMT Quarter to quarter second estimate GDP from the U.K. is expected to remain flat at 0.6%.
On Friday at 1230 GMT, shortly before Fed Chair Janet Yellen’s speech, the U.S. will release its latest figures on U.S. Preliminary GDP on a quarterly basis. Look for a slightly decline from 1.2% to 1.1%.
James is a Florida-based technical analyst, market researcher, educator and trader with 35+ years of experience. He is an expert in the area of patterns, price and time analysis as it applies to futures, Forex, and stocks.