US: Focus on housing market and Jackson Hole this week – NBF
|In the U.S, the week will provide important information about the housing market in July with the release of sales data for new and existing homes, points out the research team at National Bank Financial.
Key Quotes
“We expect both indicators to have rebounded slightly following weak showings in June. Still in July, durable goods orders may have retreated for the third time in 4 months, in line with the drop observed in civilian plane orders.”
“Other notable releases will include Markits’ preliminary composite PMI for July and the minutes of the August 1 FOMC meeting.”
“This year’s Jackson Hole Economic Policy Symposium – entitled “Changing Market Structure and Implications for Monetary Policy,”- will start on Thursday. On this occasion, observers will be alert to potential clues on monetary policy that may be provided by the world’s central banks’ representatives which will include Federal Reserve Chairman Jerome Powell (scheduled to talk on August 24th) and Bank of Canada Governor Stephen Poloz, (August 25th).”
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