1Finance

The US dollar was looking for a new direction and it had a mixed week. The last full week of August features US housing data, durable goods orders and perhaps most importantly, the Jackson Hole Symposium. Here are the highlights for the upcoming week.

1. US New Home Sales: Wednesday, 14:00. A similar figure is on the cards now: 615K.
2. Crude Oil Inventories: Wednesday, 14:30.
3. UK GDP (second estimate): Thursday, 8:30.
4. US Existing Home Sales: Thursday, Thursday, 14:00. A small rise could be seen now: 5.57 million is projected.
5. US durable goods orders: Friday, 12:30. A fall of 5.7% is on the cards for the headline while the core number is expected to rise by 0.4%.
6. Jackson Hole Symposium – Draghi’s speech: Friday 19:00 This key economic gathering in Wyoming has been used to set the stage for significant changes in monetary policy, such as some of the Fed’s QE programs and also the ECB’s QE program. The topic for this year’s gathering is “Fostering a Dynamic Global Economy”. The key speeches are expected by Fed Chair Janet Yellen and ECB President Mario Draghi.
7. Jackson Hole Symposium: Yellen’s speech: will be eyed for any hints about the next rate hike. We already know that the Fed intends to begin squeezing its balance sheet in September, but the fate of the December rate hike is unclear given the recent softness in inflation.

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