Focus This Week: Jackson Hole Symposium and Housing Data
Jackson Hole Symposium
The annual Jackson Hole Symposium in Wyoming attracts a high-profile audience including finance ministers, central bankers, and financial academics from around the globe. It’s scheduled to start on August 25. The comments and speeches from major central bankers and policymakers can have a major impact on the Market. We’ll cover the developments during the Jackson Hole Symposium (SPY) in our daily series.
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For more details on last year’s symposium, read Key Takeaways from the Jackson Hole Symposium. Apart from the Jackson Hole Symposium, we have the three major leaders in the European Union (FEZ) (EZU) meeting in Italy on August 22 to discuss the Brexit vote.
Major data release from the US
The week also has a major data release from the US real estate sector (XHB) including the new home sales and existing home sales scheduled for August 23 and August 24, respectively. The Market expects both of the data to be below last month’s release.
Last week, the housing data release by the U.S. Census Bureau beat market expectations. For more details, read Understanding the Implications of Strong Housing Data.
German macro indicators and Turkish lending rate
Looking at the European data release, the German (EWG) manufacturing PMI (purchasing managers’ index) is expected to be released on August 23. The PMI is expected to fall to 49.0. Among the major central bank monetary policy decisions for the week, markets expect the Turkish central bank to cut the overnight lending rate to 8.50%. The monetary policy review is scheduled for August 23, 2016.