According to Wu, last week Powell sent the strongest signal of a rate cut to date at the Jackson Hole Economic Symposium, saying the Fed intends to take action to prevent further weakening of the U.S. labor market. This week, the focus will be on the U.S. core PCE in July, initial jobless claims, and the revised annualized quarterly rate of real GDP in the second quarter.
According to Jinshi, a number of important economic data and events will be released around the world this week.
Monday: China's medium-term lending facility operations; Germany's August IFO business climate index; US July durable goods orders monthly rate; US August Dallas Fed business activity index. London Stock Exchange closed for one day.
Tuesday: Germany's second quarter unadjusted GDP annual rate final value; UK August CBI retail sales difference; US June FHFA house price index monthly rate; US June S&P/CS 20-city house price index annual rate; US August Conference Board consumer confidence index; US August Richmond Fed manufacturing index. San Francisco Fed President Mary Daly delivered a speech. Haidilao, SenseTime Group and others released financial reports.
Wednesday: API crude oil inventory in the United States for the week ending August 23, EIA crude oil inventory for the week ending August 23; Australia's weighted CPI annual rate in July; Germany's Gfk consumer confidence index in September; Switzerland's ZEW investor confidence index in August. Fed Governor Waller delivered a speech. BYD, Li Auto, Nvidia and others released financial reports.
Thursday: Eurozone August Industrial Climate Index, Consumer Confidence Index Final Value, Economic Climate Index; German August CPI Monthly Rate Initial Value; Canada's Second Quarter Current Account; U.S. Initial Claims for the Week Ending August 24; U.S. Second Quarter Real GDP Annualized Quarterly Rate Revised Value; U.S. July Existing Home Sales Index Monthly Rate; U.S. EIA Natural Gas Inventory for the Week Ending August 23. Atlanta Fed President Bostic delivered a speech on the economic outlook.
Friday: Japan's unemployment rate in July; UK's Nationwide house price index monthly rate in August; France's CPI monthly rate in August and the final value of the second quarter GDP annual rate; Switzerland's KOF economic leading indicator in August; Germany's seasonally adjusted unemployment and unemployment rate in August; UK's central bank mortgage license in July; Eurozone's CPI annual rate preliminary value in August; Eurozone's CPI monthly rate in August; Eurozone's unemployment rate in July; Canada's GDP monthly rate in June; US July core PCE price index annual rate, personal expenditure monthly rate, core PCE price index monthly rate; US Chicago PMI in August; US University of Michigan consumer confidence index final value in August; US August one-year inflation rate final value. Atlanta Fed President Bostic delivered a speech on monetary policy and economic prospects. Vanke, Industrial and Commercial Bank of China, Agricultural Bank of China, etc. released financial reports.
Saturday: Total number of oil drilling rigs in the United States for the week ending August 30; China's official manufacturing PMI for August.
