- RBA Meeting Minutes (AUD, GMT 01:30) – No surprises from the RBA at there last meeting are expected, the cautious “do all we can” prose is likely to continue. Lowe talked of interest rate hikes not being on the cards fro a least 3 years this week.
- Building Permits & Housing Starts (USD, GMT 12:30) – Permits are expected to show a rise to 1.30 million form 1.258 million last month whilst Starts are expected to decline from 1.186 million to 1.70 million, overall this would still show a resilient US housing market.
Wednesday – 19 August 2020
- FOMC Minutes (USD, GMT 18:00) – The Federal Open Market Committee minutes ability to shock have lost the power they once had, however, they remain the key documented account of the discussions that take place (on-line) between the decision makers of the FED. Watch fro the tone of the talk of recovery, any reference to negative interest rates (even a reference would be something) the spectre of inflation and the on-going issues with the yield curve.
- Consumer Price Index (GBP, GMT 06:00) – The headline CPI for July is expected at a 0.6% July (y/y) and with a 1.4% core price rate, following June figures of 0.6% for the headline and 1.1% for the core.
- OPEC – JMMC Meeting (All Day)
Thursday – 20 August 2020
- US Weekly Claims (USD, GMT 12:30) – Following last weeks final breach of 1.0 million this week claims data will be eagerly watch to see if the decline continues.
- German Consumer Confidence & PPI Data (EUR, GMT 06:00) – The German PPI & Consumer confidence will provide another key indicator to the recovery in German sentiment and pries. last week the COVID cases showed a worryingly geographically widespread spike.
Friday – 21 August 2020
- Markit PMI Composite (EUR, GMT 07:30) – expected to show a decline to 50.3 from 54.9 last time
- UK Markit Services PMI (GBP GMT 08:30) – expceted to show a decline from last months 56.5 to 55.9.
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Stuart Cowell
Head Market Analyst
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