JANET YELLEN AND MARIO DRAGHI TO HEADLINE THE ANNUAL JACKSON HOLE POLICY SYMPOSIUM
Investors look to Wyoming
The annual Jackson Hole symposium, held in Wyoming, headlines the upcoming market action this week, with financial markets looking to key speeches from Federal Reserve Chair Janet Yellen, and European Central Bank President Mario Draghi.
Market moving economic data comes from the United States, Germany and the United Kingdom, with U.S New Home Sales, German August manufacturing data and second quarter GDP figures from the United Kingdom.
Monday 21st August, German BUBA Speech
The German Buba Monthly Report, will be delivered by President Jens Weidmann, and is released by Deutsche Bundesbank.
Investors look to the report for clues on the German economy, the report contains relevant articles, speeches, statistical tables, and detailed analysis of current and future economic conditions from the Bundesbank's viewpoint.
Tuesday 22nd August, Canadian Retail Sales
The Canadian economy releases retail sales data for the month of June, with economists forecasting a 0.3 percent increase, which is sharply down from the previous months figure of 0.6 percent.
The Reserve Bank of Canada recently raised interest rates at the July policy meeting, despite persistently weak domestic inflation. Inflation data aside, the RBC watches employment data, consumer spending and retail sales figures closely.
Wednesday 23rd August, United States New Home Sales
The United States economy releases New Home Sales data for the month of July, with analysts forecasting this month's figure to closely match the June number of 610,000.
New Home Sales measures the annualized number of new single-family homes that were sold during the previous month. This report tends to have more impact when it's released ahead of Existing Home Sales because the reports are tightly correlated.
Thursday 24th August, United Kingdom Second Quarter GDP
The United Kingdom economy releases gross domestic product figures for the second fiscal quarter of the financial year. The quarter- on-quarter figure is expected to rise 0.3 percent, whilst the year-on-year comparison figure is expected to increase by 1.7 percent.
Investors will watch this economic release closely, as it is the broadest measure of United Kingdom' economic activity, and the primary indicator of the UK economy's health.
Friday 25th August, United States Jackson Hole Symposium
Federal Reserve Chair Janet Yellen will join European Central Bank President Mario Draghi in Jackson Hole, Wyoming, setting the stage for a potential market moving event for foreign exchange traders.
Janet Yellen will be speaking about the topic of financial stability, Mario Draghi however, will not be discussing any new policy changes according to sources close to the ECB, he will instead be speaking about the global economy.