Stay Ahead of Market Movements: Key Economic Events to Watch from August 26-31, 2024
This week’s economic calendar is packed with critical events that could significantly influence various market sectors. Key data releases include Eurozone inflation figures, U.S. GDP, and China’s Manufacturing PMI. Traders will have multiple opportunities to refine their strategies as these events unfold. Pay special attention to U.S. economic indicators like Crude Oil Inventories and the Core PCE Price Index, which could drive volatility across the markets.
Economic Events and Analysis:
- Monday, August 26:
- GBP: Bank Holiday in the UK could lead to lower liquidity across markets.
- USD: Durable Goods Orders (MoM) for July at 12:30 GMT. A crucial indicator of manufacturing strength, influencing USD and equity markets.
- Tuesday, August 27:
- EUR: German GDP (QoQ) for Q2 at 06:00 GMT. Insights into Europe’s largest economy could impact the EUR.
- USD: CB Consumer Confidence for August at 14:00 GMT. A key driver of consumer spending, affecting market sentiment.
- Wednesday, August 28:
- USD: Crude Oil Inventories at 14:30 GMT. Volatility expected in energy markets; unexpected changes in inventory levels can impact oil prices.
- Thursday, August 29:
- EUR: German CPI (MoM) for August at 12:00 GMT. Key inflation data may influence ECB policy.
- USD: GDP (QoQ) for Q2 and Initial Jobless Claims at 12:30 GMT. Vital indicators of U.S. economic health, likely to affect USD movements.
- Friday, August 30:
- EUR: CPI (YoY) for August at 09:00 GMT. Critical for Eurozone inflation expectations and ECB actions.
- USD: Core PCE Price Index (YoY & MoM) for July at 12:30 GMT. The Fed’s preferred inflation gauge, essential for future interest rate decisions.
- USD: Chicago PMI for August at 13:45 GMT. An indicator of manufacturing activity, offering insights into economic conditions.
- Saturday, August 31:
- CNY: Manufacturing PMI for August at 01:30 GMT. A crucial indicator of China’s economic health, with potential global market implications.
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