Jackson Hole and Inflation numbers!
The week ahead will be an excellent and busy week with Jackson Hole Symposium on the last days of the week and US PCE data, while we should not forget about European economic data. On the other hand, Chinese regulatory still is the primary concern in the week ahead for Asian Investors. Let`s take a quick look at the week ahead and the most important events.
PM data - Monday
Purchasing Manager Index on Monday will take the center of the stage! Manufacturing and Service PMI numbers from Australia, Japan, France, Germany, Eurozone, United Kingdom, and the United States will be the primary data on Monday. As these data are related to the summer, we expect an increase in Service PMI numbers and a general decrease in the manufacturing sector. This data is not likely to make any changes in the overall downtrend of EURUSD.
German & US Q2 GDP - Tuesday & Thursday
Gross domestic products, the leading economic index, will tell us more about how the world and Europe`s biggest economies have been behaving in the second quarter. At the same quarter in the year-ago, both economies had fallen sharply. Recovery in the US and Germany was primarily thanks to great stimulus packages. In the US, most of these helped will end on September 6, while Germans plan to have it by next March. However, according to retail sale data published in the last months, we expect to beat the preliminary numbers and increase more. With US numbers, we are expecting a bit of support for the Dow Jones industrial index.