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Is the Hectic Macro Calendar Pointing to a Volatile Week Ahead?

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US macro calendar

The major data releases for the week starting August 15 from the US (QQQ) (MDY) side will include the CPI (consumer price index) and the building permits release. Both are expected to remain stable for July. In the real estate sector, building permits are expected to have a slight rise to 1.16 million. Housing starts are expected to fall to 1.18 million on August 16. The CPI had been on a falling trend over previous months. This trend is expected to continue. The CPI is expected to fall from a 0.2% rise in the previous month to remain unchanged this month.

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Employment report releases

The macro calendar for the week starting August 15 has three countries coming out with their employment reports. The New Zealand unemployment rate scheduled for August 16 is expected to fall to 5.30%. The interest rate cut on August 10 is expected to provide another boost to the jobs market in the coming months. Read Why Did the RBNZ Decide to Cut the Official Cash Rate? to learn more about New Zealand’s monetary policy.

Among other major employment releases during the week, the United Kingdom (EWU) and Australian (EWA) employment reports are scheduled for August 17 and 18, respectively.

Canada has a busy week ahead

The Canadian (EWC) macro calendar looks packed for the week. Manufacturing sales are expected to rebound to 0.80%—compared to the previous month’s fall of 1.0%. This release is scheduled for August 16. The core CPI and retail sales are scheduled for August 19. The core CPI is expected to remain unchanged, while retail sales could see a rise of 0.4%, according to forecasts.

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