19th August 2019 - 23rd August 2019
Monday starts at a slower pace than the previous week with Japan releasing their Merchandise Trade Balance report released by the Ministry of Finance is a measure of balance amount between import and export. A positive value shows a trade surplus while a negative value shows a trade deficit. Japan is so much dependent on exports that the Japanese economy heavily relies on a trade surplus. Therefore, any variation in the figures influences the domestic economy. Later on that day ECB will release their EUR Consumer Price Index which captures the changes in the price of goods and services. The CPI is a significant way to measure changes in purchasing trends and inflation in the Euro Zone. To kick off an early opener for Tuesday will be reports from Australia’s Reserve Bank which will be published two weeks after the interest rate decision. The minutes give a full account of the policy discussion, including differences of view. They also record the votes of the individual members of the Committee. To end Tuesday Germany will release their Producer Price Index which measures the average changes in prices in the German primary markets. Changes in the PPI are widely followed as an indicator of commodity inflation. Markets remain very docile due to lack of Strong Economic Data released so far and Wednesday will be the starter for High Tier data to be released for this week. First to begin with UK will release their Public Sector Net Borrowing which captures an amount of new debt held by the U.K. governments (the financial deficit in the UK national accounts). To conclude the day US Federal reserve releases their FOMC minutes which will be an important cue for Investors which reviews economic and financial conditions, determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth. Thursday will be the busiest of this week with 2 Day Jackson Hole Symposium Event held in US. It is a forum for central bankers, policy experts and academics to come together to focus on a topic. Followed by Germany will release their Manufacturing & Composite PMI which captures business conditions in the manufacturing sector. As the manufacturing sector dominates a large part of total GDP, the manufacturing PMI is an important indicator of business conditions and the overall economic condition in Germany. Finally to conclude the busy day ECB will release their Monetary Policy Meeting Account contains an overview of financial market, economic and monetary developments. It's followed by a summary of the discussion, in an unattributed form, on the economic and monetary analyses and on the monetary policy stance. The accounts offer a fair and balanced reflection of policy deliberations. Friday will be a US Data dominated day with Jackson Hole Symposium with all the Key members of countries lined up for the second day on one end and the other with US Federal Reserve Chairperson Jerome Powell giving out a speech on major economic policies & Interest rate hike decisions. Monday
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