Economic calendar: All eyes on Jackson Hole

Summary

- Central bankers’ meeting in Jackson Hole starts today
- Jerome Powell and Mark Carney among today’s speakers
- Canadian retail sales print to be released in the early afternoon

1:30 pm BST - Canada, Retail sales for June. Data from Canada released earlier this week surprised to the upside - manufacturing sales dipped less than expected, wholesale sales jumped and inflation remained unchanged in spite of an expected drop. Retail sales are expected to have declined 0.1% MoM in June but given that the other readings were better-than-expected, we may see a beat.

3:00 pm BST - Fed Chairman Powell speaks in Jackson Hole. Jerome Powell will deliver opening speech at the annual central bankers’ meeting in Jackson Hole. Markets are heavily biased towards receiving dovish message and given that the latest speeches from Fed members were quite hawkish, the scope for disappointment is high. Powell may hit a cautious tone and try not to set any expectations relating to the future policy. Mark Carney, Governor of the Bank of England, will deliver his speech at 6:00 pm BST.

3:00 pm BST - US, New home sales for July. The US housing market data will be the final macroeconomic reading from the United States this week. However, one should not expect much attention to be paid to it as it will be released at the time of Powell’s speech. Market consensus expects a reading of 649k against 646k for June.

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