Markets.com Logo
euEnglish
LoginSign Up

Week ahead: Eurozone inflation, PMIs and FOMC minutes

Aug 15, 2024
4 min read
Table of Contents
  • 1. Monday, August 19th: Palo Alto Networks Earnings Report
  • 2. Tuesday, August 20th: Eurozone inflation, Canada CPI
  • 3. Wednesday, August 21st:  FOMC Meeting Minutes
  • 4. Thursday, August 22nd: UK, US, Eurozone PMIs and Initial Jobless Claims
  • 5. Friday, August 23rd: Jackson Hole Symposium

FOMC minutes, Jackson Hole in focus ahead of September Fed meeting

 

As we approach the end of August, markets are gearing up for a week filled with several key releases, such as the final Eurozone inflation reading for July, FOMC meeting minutes, UK, US, and Eurozone PMIs, as well as the weekly jobless claims reading from the US Department of Labor.

The end of the week will see the start of the Jackson Hole symposium, where all eyes will be on Federal Reserve Chair Jay Powell for cues as to the US central bank’s actions in September, with markets currently firmly betting on an interest rate cut.

Here are the week’s key events:

 

Monday, August 19th: Palo Alto Networks Earnings Report

As with last week, Monday will be fairly tame in terms of economic data, with releases such as the consumer confidence survey in South Korea and New Zealand trade balance eyed for later in the day. Markets will be processing last week’s US CPI report ahead of the FOMC minutes and Jackson Hole Symposium.

On Wall Street, investors will be looking at the earnings report from California-based cybersecurity firm Palo Alto Networks. Particular focus will likely be paid to the company’s full-year 2025 guidance and potential updates on the effects of the CrowdStrike outage.

Earnings: Palo Alto Networks (PANW)

 

Tuesday, August 20th: Eurozone inflation, Canada CPI

The Eurozone inflation report for July is due out today — it will be closely watched as investors and policymakers assess the region's economic outlook amidst ongoing inflationary pressures. A flash reading from Eurostat on July 31 showed that inflation had edged up to 2.6% from 2.5% in June, although that did not seem to derail market expectations for an interest rate cut by the European Central Bank in September.

The ECB started cutting rates in June, paused in July and is widely expected to slowly dial back some of the steepest hikes it has made in its 25-year history over the next year.

Like the Eurozone, Canada’s inflation report will be key for the Bank of Canada’s rate-setting decisions, as inflation remains a central concern globally.

Earnings: Lowe’s Companies (LOW)

 

Wednesday, August 21st:  FOMC Meeting Minutes

Markets will be looking for interest rate cues from the Federal Reserve as the minutes of the latest Federal Open Markets Committee (FOMC) are released. The U.S. inflation rate, as measured by the Consumer Price Index (CPI), eased to 2.9% year-over-year in July, down slightly from 3% in June, according to the U.S. Bureau of Labor Statistics (BLS) last Wednesday. This result was in line with market expectations.

The annual core CPI, which excludes volatile food and energy prices, increased by 3.2%, following a 3.3% rise in June, also meeting analysts' estimates. On a monthly basis, both the headline CPI and core CPI rose by 0.2%. Provided there are no surprise readings in the next few weeks, the Federal Reserve appears to have laid the groundwork for an interest rate cut in September, placing it behind peers such as the European Central Bank, Bank of England, and Bank of Canada, who have all cut rates this year.

Crude oil data stocks and production data from the US Energy Information Administration (EIA) is also due today, which will be key for oil prices as they remain elevated over potential escalations in the Middle East.

Earnings:  TJX Companies (TJX), Analog Devices (ADI), Synopsys (SNPS), Target (TGT)

 

Thursday, August 22nd: UK, US, Eurozone PMIs and Initial Jobless Claims

Markets will be focused on the Purchasing Managers Index (PMI) in the US, UK, and Eurozone today, as well as the weekly initial jobless claims data.

New unemployment claims in the US dropped more than anticipated last week, easing concerns about an unravelling labor market and indicating that the gradual softening remains on track.

The US Labor Department reported last Thursday that initial claims for state unemployment benefits fell by 17,000 to a seasonally adjusted 233,000 for the week ending August 3, marking the largest decline in nearly 11 months.

 

Friday, August 23rd: Jackson Hole Symposium

The annual Jackson Hole Symposium kicks off, with central bankers from around the world gathering to discuss monetary policy. Fed Chair Jerome Powell’s speech will be the highlight, with markets keen on any hints about the future path of U.S. interest rates. 


Risk Warning: this article represents only the author’s views and is for reference only. It does not constitute investment advice or financial guidance, nor does it represent the stance of the Markets.com platform.When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice. Trading cryptocurrency CFDs and spread bets is restricted for all UK retail clients. 

Georgy Istigechev
Written by
Georgy Istigechev
SHARE

Markets

  • Palladium - Cash

    chartpng

    --

    0.09%
  • EUR/USD

    chartpng

    --

    0.00%
  • Cotton

    chartpng

    --

    -0.74%
  • AUD/USD

    chartpng

    --

    0.10%
  • Santander

    chartpng

    --

    0.16%
  • Apple.svg

    Apple

    chartpng

    --

    -0.02%
  • easyJet

    chartpng

    --

    -0.54%
  • VIXX

    chartpng

    --

    0.29%
  • Silver

    chartpng

    --

    0.11%
Tags DirectoryView all
Table of Contents
  • 1. Monday, August 19th: Palo Alto Networks Earnings Report
  • 2. Tuesday, August 20th: Eurozone inflation, Canada CPI
  • 3. Wednesday, August 21st:  FOMC Meeting Minutes
  • 4. Thursday, August 22nd: UK, US, Eurozone PMIs and Initial Jobless Claims
  • 5. Friday, August 23rd: Jackson Hole Symposium

Related Articles

Interest rate cut percentage

Week Ahead: Interest Rate Decisions from Fed, BoC, and BoJ in Focus

The U.S. JOLTs job openings for May stood at 7.769 million, with June’s figure (due 29 July, 1400 GMT) expected to fall to 7.1 million, signalling a cooling labour market under tight Fed policy.

Tommy Yap|1 day ago

ECB Rate Cut Expectations Revised Amid Economic Resilience

Following the ECB's decision to hold interest rates steady, Goldman Sachs and JPMorgan Chase revised their expectations for future rate cuts, considering the economic resilience and potential developments in EU-US trade relations.

Liam James|3 days ago

Hedge Funds Advise Buying Protection Against Potential Stock Market Downturn

As U.S. stock markets soar to record highs, firms like Goldman Sachs and Citadel are advising clients to buy relatively inexpensive hedges to protect against potential losses due to a confluence of risks.

Ava Grace|3 days ago
Markets.com Logo
google playapp storeweb tradertradingView

Contact Us

support@markets.com+12845680155

Markets

  • Forex
  • Shares
  • Commodities
  • Indices
  • Crypto
  • ETFs
  • Bonds

Trading

  • Trading Tools
  • Platform
  • Web Platform
  • App
  • TradingView
  • MT4
  • MT5
  • CFD Trading
  • CFD Asset List
  • Trading Info
  • Trading Conditions
  • Trading Hours
  • Trading Calculators
  • Economic Calendar

Learn

  • News
  • Trading Basics
  • Glossary
  • Webinars
  • Traders' Clinic
  • Education Centre

About

  • Why markets.com
  • Global Offering
  • Our Group
  • Careers
  • FAQs
  • Legal Pack
  • Safety Online
  • Complaints
  • Contact Support
  • Help Centre
  • Sitemap
  • Cookie Disclosure
  • Awards and Media

Promo

  • Gold Festival
  • Crypto Trading
  • marketsClub
  • Welcome Bonus
  • Loyal Bonus
  • Referral Bonus

Partnership

  • Affiliation
  • IB

Follow us on

  • Facebook
  • Instagram
  • Twitter
  • Youtube
  • Linkedin
  • Threads
  • Tiktok

Listed on

  • 2023 Best Trading Platform Middle East - International Business Magazine
  • 2023 Best Trading Conditions Broker - Forexing.com
  • 2023 Most Trusted Forex Broker - Forexing.com
  • 2023 Most Transparent Broker - AllForexBonus.com
  • 2024 Best Broker for Beginners, United Kingdom - Global Brands Magazine
  • 2024 Best MT4 & MT5 Trading Platform Europe - Brands Review Magazine
  • 2024 Top Research and Education Resources Asia - Global Business and Finance Magazine
  • 2024 Leading CFD Broker Africa - Brands Review Magazine
  • 2024 Best Broker For Beginners LATAM - Global Business and Finance Magazine
  • 2024 Best Mobile Trading App MENA - Brands Review Magazine
  • 2024 Best Outstanding Value Brokerage MENA - Global Business and Finance Magazine
  • 2024 Best Broker for Customer Service MENA - Global Business and Finance Magazine
LegalLegal PackCookie DisclosureSafety Online

Payment
Methods

mastercardvisanetellerskrillwire transferzotapay
The www.markets.com/za/ site is operated by Markets South Africa (Pty) Ltd which is a regulated by the FSCA under license no. 46860 and licensed to operate as an Over The Counter Derivatives Provider (ODP) in terms of the Financial Markets Act no.19 of 2012. Markets South Africa (Pty) Ltd is located at BOUNDARY PLACE 18 RIVONIA ROAD, ILLOVO SANDTON, JOHANNESBURG, GAUTENG, 2196, South Africa. 

High Risk Investment Warning: Trading Foreign Exchange (Forex) and Contracts For Difference (CFDs) is highly speculative, carries a high level of risk and is not appropriate for every investor. You may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin. Please read the full  Risk Disclosure Statement which gives you a more detailed explanation of the risks involved.

For privacy and data protection related complaints please contact us at privacy@markets.com. Please read our PRIVACY POLICY STATEMENT for more information on handling of personal data.

Markets.com operates through the following subsidiaries:

Safecap Investments Limited, which is regulated by the Cyprus Securities and Exchange Commission (“CySEC”) under license no. 092/08. Safecap is incorporated in the Republic of Cyprus under company number ΗΕ186196.

Markets International Limited is registered  in the Saint Vincent and The Grenadines (“SVG”) under the revised Laws of Saint Vincent and The Grenadines 2009, with registration number  27030 BC 2023.

Close
Close

set cookie

set cookie

We use cookies to do things like offer live chat support and show you content we think you’ll be interested in. If you’re happy with the use of cookies by markets.com, click accept.