Upcoming economic events 22 August 2024

Time(GMT+0/UTC+0)	State	Importance	Event	Forecast	Previous
00:30		2 points	au Jibun Bank Japan Services PMI (Aug)	———	53.7
08:00		2 points	HCOB Eurozone Manufacturing PMI (Aug)	45.7	45.8
08:00		2 points	HCOB Eurozone Composite PMI (Aug)	———	50.2
08:00		2 points	HCOB Eurozone Services PMI (Aug)	51.7	51.9
11:30		2 points	ECB Publishes Account of Monetary Policy Meeting	———	———
12:00		2 points	Jackson Hole Symposium	———	———
12:30		2 points	Continuing Jobless Claims	———	1,864K
12:30		3 points	Initial Jobless Claims	233K	227K
13:45		3 points	S&P Global US Manufacturing PMI (Aug)	49.8	49.6
13:45		2 points	S&P Global Composite PMI (Aug)	———	54.3
13:45		3 points	S&P Global Services PMI (Aug)	54.0	55.0
14:00		2 points	Existing Home Sales (MoM) (Jul)	———	-5.4%
14:00		3 points	Existing Home Sales (Jul)	3.92M	3.89M
17:00		2 points	30-Year TIPS Auction	———	2.200%
20:30		2 points	Fed’s Balance Sheet	———	7,178B
22:45		2 points	Core Retail Sales (QoQ)	-0.8%	0.4%
22:45		2 points	Retail Sales (QoQ) (Q2)	-1.0%	0.5%
23:30		2 points	National Core CPI (YoY) (Jul)	2.7%	2.6%

Summary of Upcoming Economic Events on August 22, 2024

1. Japan au Jibun Bank Japan Services PMI (Aug) (00:30 UTC): Measures activity in Japan’s service sector. Previous: 53.7.
2. Eurozone HCOB Eurozone Manufacturing PMI (Aug) (08:00 UTC): Measures activity in the Eurozone’s manufacturing sector. Forecast: 45.7, Previous: 45.8.
3. Eurozone HCOB Eurozone Composite PMI (Aug) (08:00 UTC): Measures overall business activity in the Eurozone. Previous: 50.2.
4. Eurozone HCOB Eurozone Services PMI (Aug) (08:00 UTC): Measures activity in the Eurozone’s service sector. Forecast: 51.7, Previous: 51.9.
5. ECB Publishes Account of Monetary Policy Meeting (11:30 UTC): Provides detailed insights into the ECB’s economic outlook and policy decisions.
6. US Jackson Hole Symposium (12:00 UTC): A key annual economic conference where central bankers, finance ministers, and academics discuss global economic issues.
7. US Continuing Jobless Claims (12:30 UTC): Number of individuals receiving unemployment benefits. Previous: 1,864K.
8. US Initial Jobless Claims (12:30 UTC): Number of new unemployment claims. Forecast: 233K, Previous: 227K.
9. S&P Global US Manufacturing PMI (Aug) (13:45 UTC): Measures activity in the US manufacturing sector. Forecast: 49.8, Previous: 49.6.
10. S&P Global US Composite PMI (Aug) (13:45 UTC): Measures overall business activity in the US. Previous: 54.3.
11. S&P Global US Services PMI (Aug) (13:45 UTC): Measures activity in the US service sector. Forecast: 54.0, Previous: 55.0.
12. US Existing Home Sales (MoM) (Jul) (14:00 UTC): Monthly change in sales of existing homes. Previous: -5.4%.
13. US Existing Home Sales (Jul) (14:00 UTC): Total number of existing homes sold. Forecast: 3.92M, Previous: 3.89M.
14. US 30-Year TIPS Auction (17:00 UTC): Auction of 30-year Treasury Inflation-Protected Securities. Previous Yield: 2.200%.
15. Fed’s Balance Sheet (20:30 UTC): Weekly update on the Federal Reserve’s assets and liabilities. Previous: 7,178B.
16. New Zealand Core Retail Sales (QoQ) (Q2) (22:45 UTC): Quarterly change in retail sales, excluding automobiles. Forecast: -0.8%, Previous: +0.4%.
17. New Zealand Retail Sales (QoQ) (Q2) (22:45 UTC): Quarterly change in total retail sales. Forecast: -1.0%, Previous: +0.5%.
18. Japan National Core CPI (YoY) (Jul) (23:30 UTC): Annual change in Japan’s core consumer price index, excluding fresh food. Forecast: +2.7%, Previous: +2.6%.

Market Impact Analysis

• Japan Services PMI: Higher PMI suggests expansion in the service sector, supporting JPY; lower readings could indicate slowing economic activity.
• Eurozone PMIs: Weak manufacturing PMI could signal economic challenges, potentially impacting EUR; stable or rising services PMI supports economic outlook.
• ECB Monetary Policy Account: Detailed insights may influence EUR and market sentiment, especially if there are indications of future policy shifts.
• US Jackson Hole Symposium: Comments from key central bankers, including potential Fed remarks, could drive significant market movements.
• US Jobless Claims: Stable or declining claims support USD and market confidence; rising claims might raise concerns about labor market strength.
• US Existing Home Sales: A decline could indicate a cooling housing market, while stable sales support economic stability.
• New Zealand Retail Sales: Weak retail sales may pressure NZD and signal slowing consumer demand.
• Japan National Core CPI: Rising inflation supports JPY and may influence BOJ policy expectations.

Overall Impact

• Volatility: High, particularly due to potential outcomes from the Jackson Hole Symposium and key PMI data releases.
• Impact Score: 8/10, indicating a high potential for market movements.