W Week Ahead

Week Ahead: ECB Meeting, Germany’s IAA Mobility Trade Show, U.S. Emergency Unemployment Benefits Expire

06 September, 2021

Summary Key Events

🇺🇸 🇨🇦 Labor Day holiday in the U.S. and Canada. Markets will be closed (6)

🇭🇰 Hang Seng expands to 60 stocks (6)

🇺🇸 U.S. President Joe Biden will likely make his choice this week on whether to renominate Fed Chair Jerome Powell to a second term. Powell has Treasury Secretary Janet Yellen’s endorsement but faces criticism from vocal House progressives – Bloomberg (6)

🇺🇸 U.S. Federal emergency unemployment benefits of $300 per week and other aid expire today. About half of U.S. states have already halted the payments, saying the cash disincentivized Americans from looking for work – Bloomberg (6)

🇪🇺 Informal video conference for EU economy and finance ministers, to exchange views on the recovery and resilience fund – Bloomberg (6)

🇸🇻 El Salvador’s Bitcoin law takes effect. Salvadorans will be able to download the government’s Chivo digital wallet, enter their ID number and receive $30 in Bitcoin. The government has prepared 200 ATMs for the conversion – Bloomberg (7)

🇩🇪 Germany’s IAA Mobility trade show is the new and broader incarnation of the auto show that was held in Frankfurt for decades. More than 500 exhibitors are expected, including automobile and bicycle brands and those involved in the tech and supply sectors. German Chancellor Angela Merkel will open the show – Bloomberg (from 7 to 12)

🇩🇪 Industrial Production for July (7)

🇺🇸 Dallas Fed President Robert Kaplan holds a virtual town hall discussion – Bloomberg (8)

🇺🇸 JOLTS for July (8)

🇪🇺 ECB President Christine Lagarde holds a press conference after the bank’s rate decision (9) ➡ ECB will revise upward its GDP projections for 2021.

🇸🇪 Riksbank Governor Stefan Ingves speaks at SVD Bank Summit on monetary policy and challenges to the Swedish economy – Bloomberg (9)

🇨🇦 Bank of Canada Governor Tiff Macklem delivers the Economic Progress Report, via videoconference – Bloomberg (9)

🇩🇪 German Finance Minister Olaf Scholz speaks at the Handelsblatt Banking Summit – Bloomberg (9)

🇨🇳 🌏 Member countries of the Regional Comprehensive Economic Partnership as well as participants in China’s Belt and Road Initiative will gather for a four-day trade expo in the southern Chinese city of Nanning – Nikkei (10)

🇪🇺 ECB Governing Council Member Olli Rehn speaks at monetary policy conference – Bloomberg (10)

🇺🇸 PPI for August (10)




Focus on U.S. Economic Calendar

Top 10 Macro/Financial Charts of the Previous Week – w35


What happened in the World Economy last Week – in charts – w35 (Bloomberg)

*Note: Previous reports can be found here