Upcoming economic events 29 August 2024

Time(GMT+0/UTC+0)	State	Importance	Event	Forecast	Previous
01:30		2 points	Private New Capital Expenditure (QoQ) (Q2)	0.9%	1.0%
07:15		2 points	ECB’s Schnabel Speaks	———	———
09:15		2 points	ECB’s Lane Speaks	———	———
10:00		2 points	Eurogroup Meetings	———	———
12:30		2 points	Continuing Jobless Claims	———	1,863K
12:30		2 points	Core PCE Prices (Q2)	2.90%	2.90%
12:30		3 points	GDP (QoQ) (Q2)	2.8%	2.8%
12:30		2 points	GDP Price Index (QoQ) (Q2)	2.3%	2.3%
12:30		2 points	Goods Trade Balance (Jul)	-97.10B	-96.56B
12:30		3 points	Initial Jobless Claims	234K	232K
12:30		2 points	Retail Inventories Ex Auto (Jul)	———	0.2%
14:00		2 points	Pending Home Sales (MoM) (Jul)	0.2%	4.8%
17:00		2 points	7-Year Note Auction	———	4.162%
19:30		2 points	FOMC Member Bostic Speaks	———	———
20:30		2 points	Fed’s Balance Sheet	———	7,194B
23:30		2 points	Tokyo Core CPI (YoY) (Aug)	2.2%	2.2%
23:50		2 points	Industrial Production (MoM) (Jul)	3.7%	-4.2%

Summary of Upcoming Economic Events on August 29, 2024

1. Australia Private New Capital Expenditure (QoQ) (Q2) (01:30 UTC): Quarterly change in private sector investment in new buildings and equipment. Forecast: +0.9%, Previous: +1.0%.
2. ECB’s Schnabel Speaks (07:15 UTC): Remarks from Isabel Schnabel, a member of the ECB’s Executive Board, potentially offering insights into the ECB’s monetary policy.
3. ECB’s Lane Speaks (09:15 UTC): Remarks from Philip Lane, Chief Economist of the ECB, providing further insights into the ECB’s economic outlook and monetary policy stance.
4. Eurogroup Meetings (10:00 UTC): Meeting of Eurozone finance ministers to discuss economic policies and financial stability within the Eurozone.
5. US Continuing Jobless Claims (12:30 UTC): Number of individuals receiving unemployment benefits. Previous: 1,863K.
6. US Core PCE Prices (Q2) (12:30 UTC): Quarterly change in the core Personal Consumption Expenditures price index, excluding food and energy. Forecast: +2.90%, Previous: +2.90%.
7. US GDP (QoQ) (Q2) (12:30 UTC): Quarterly change in the total value of goods and services produced in the US. Forecast: +2.8%, Previous: +2.8%.
8. US GDP Price Index (QoQ) (Q2) (12:30 UTC): Measures the change in prices of goods and services included in GDP. Forecast: +2.3%, Previous: +2.3%.
9. US Goods Trade Balance (Jul) (12:30 UTC): Difference between the value of exports and imports of goods. Forecast: -$97.10B, Previous: -$96.56B.
10. US Initial Jobless Claims (12:30 UTC): Number of new unemployment claims. Forecast: 234K, Previous: 232K.
11. US Retail Inventories Ex Auto (Jul) (12:30 UTC): Monthly change in retail inventories, excluding automobiles. Previous: +0.2%.
12. US Pending Home Sales (MoM) (Jul) (14:00 UTC): Monthly change in the number of signed contracts to buy existing homes. Forecast: +0.2%, Previous: +4.8%.
13. US 7-Year Note Auction (17:00 UTC): Auction of 7-year US Treasury notes. Previous Yield: 4.162%.
14. FOMC Member Bostic Speaks (19:30 UTC): Remarks from Atlanta Fed President Raphael Bostic, potentially offering insights into the Fed’s policy stance and economic outlook.
15. Fed’s Balance Sheet (20:30 UTC): Weekly update on the Federal Reserve’s assets and liabilities. Previous: 7,194B.
16. Japan Tokyo Core CPI (YoY) (Aug) (23:30 UTC): Annual change in the core consumer price index for Tokyo, excluding fresh food. Forecast: +2.2%, Previous: +2.2%.
17. Japan Industrial Production (MoM) (Jul) (23:50 UTC): Monthly change in industrial output. Forecast: +3.7%, Previous: -4.2%.

Market Impact Analysis

• Australia Private New Capital Expenditure: A higher-than-expected increase would signal strong business investment, supporting AUD; a lower figure could indicate weaker economic confidence.
• ECB Speeches and Eurogroup Meetings: Remarks from ECB officials and discussions during Eurogroup meetings could influence EUR, especially if there are signals about future monetary policy or economic stability measures.
• US Core PCE Prices and GDP: These are key indicators of economic health and inflation. Stable or increasing figures support USD and may influence Fed policy expectations. Any significant deviation from forecasts could impact market sentiment.
• US Jobless Claims: These are closely watched as indicators of labor market strength. Lower claims support economic stability, while higher claims could raise concerns.
• US Trade Balance and Retail Inventories: Changes in trade balance can affect USD, with larger deficits potentially weakening the currency. Retail inventory data indicates stock levels, which can impact supply chain dynamics and economic outlook.
• Japan Tokyo Core CPI and Industrial Production: Stable CPI indicates controlled inflation, supporting JPY stability. A rebound in industrial production suggests economic recovery, positively impacting JPY.

Overall Impact

• Volatility: High, due to multiple key economic indicators and speeches from central bank officials, which could influence market expectations across various asset classes.
• Impact Score: 7/10, indicating a high potential for market movements.