Upcoming economic events 27 August 2024

Time(GMT+0/UTC+0)	State	Importance	Event	Forecast	Previous
05:00		2 points	BoJ Core CPI (YoY)	2.1%	2.1%
13:00		2 points	S&P/CS HPI Composite – 20 n.s.a. (YoY) (Jun)	6.9%	6.8%
13:00		2 points	S&P/CS HPI Composite – 20 n.s.a. (MoM) (Jun)	———	1.0%
14:00		3 points	CB Consumer Confidence (Aug)	100.2	100.3
17:00		2 points	2-Year Note Auction	———	4.434%
20:30		2 points	API Weekly Crude Oil Stock	———	0.347M

Summary of Upcoming Economic Events on August 27, 2024

1. Japan BoJ Core CPI (YoY) (05:00 UTC): Year-over-year change in the Bank of Japan’s core consumer price index, which excludes fresh food. Forecast: 2.1%, Previous: 2.1%.
2. US S&P/CS HPI Composite – 20 n.s.a. (YoY) (Jun) (13:00 UTC): Annual change in the home prices across 20 major US cities. Forecast: +6.9%, Previous: +6.8%.
3. US S&P/CS HPI Composite – 20 n.s.a. (MoM) (Jun) (13:00 UTC): Monthly change in the home prices across 20 major US cities. Previous: +1.0%.
4. US CB Consumer Confidence (Aug) (14:00 UTC): Measures consumer confidence in economic activity. Forecast: 100.2, Previous: 100.3.
5. US 2-Year Note Auction (17:00 UTC): Auction of 2-year US Treasury notes. Previous Yield: 4.434%.
6. API Weekly Crude Oil Stock (20:30 UTC): Weekly change in US crude oil inventories. Previous: +0.347M.

Market Impact Analysis

• Japan BoJ Core CPI: Stable inflation around the target level suggests no immediate need for policy changes by the Bank of Japan, likely maintaining JPY stability. Any deviation could influence expectations of future BOJ policy adjustments.
• US S&P/CS HPI Composite: Rising home prices reflect strong housing demand and economic stability, supporting USD and potentially boosting related sectors. Consistent increases in house prices can also indicate inflationary pressures in the housing market.
• US CB Consumer Confidence: Consumer confidence is a key indicator of economic health. A reading close to the forecast suggests stable consumer sentiment, which supports USD and broader economic outlook. Any significant deviation could impact market expectations of consumer spending trends.
• US 2-Year Note Auction: High demand for 2-year Treasury notes can lower yields and reflect investor confidence in short-term US debt, while low demand might raise yields and impact financial markets.
• API Weekly Crude Oil Stock: Changes in crude oil inventories can influence oil prices. An increase in inventories may signal weaker demand or higher supply, potentially leading to lower prices.

Overall Impact

• Volatility: Moderate, with potential reactions in equity, bond, and commodity markets, especially based on consumer confidence data and housing market indicators.
• Impact Score: 6/10, indicating moderate potential for market movements.