Week Ahead: Powell at Jackson Hole, Manufacturing and Services PMIs, U.S. Data

Key Macro Events

🇮🇷 🇺🇸 🇪🇺 Negotiations concerning Iran nuclear deal will continue. Iran submitted its response on Aug. 15 to a framework circulated by the EU for a deal, which the EU took as constructive. The US has stayed tight-lipped on its position about Iran’s viewpoint – Bloomberg (from 22)

🇺🇸 🇰🇷 The U.S. and South Korean military start their annual Ulchi Freedom Shield joint drills amid tensions rising around the Taiwan Strait – Nikkei (22)

🇬🇧 UK Foreign Secretary Liz Truss and former Chancellor Rishi Sunakhold hustings in Birmingham as they vie to be the country’s next prime minister. Hustings are also scheduled Wednesday in Norwich – Bloomberg (22)

🇩🇪 🇨🇦 German Chancellor Olaf Scholz visits Canada, where he’s expected to meet Prime Minister Justin Trudeau – Bloomberg (22)

🇦🇹 Austrian Chancellor Karl Nehammer speaks about “The New Europe” at the Alpbach Forum in the Austrian Tyrol. Event runs through Sept. 2, with several other Austrian cabinet ministers set to speak – Bloomberg (22)

🇪🇺 The European Economic Association’s annual conference begins at Milan’s Bocconi University – FT (22)

🌎 August Manufacturing and Services PMIs (23)

🇪🇺 ECB Executive Board member Fabio Panetta participates in a policy panel at the Annual Congress of) the European Economic Association at Bocconi University in Milan – Bloomberg (23)

🇺🇸 July New Home Sales (23)

🇺🇸 Minneapolis Fed President Neel Kashkari speaks at a Q&A session at a gathering of the Wharton Minnesota Alumni Club – Bloomberg (23)

🇺🇸 US primary elections in Florida and New York. In Florida, GOP incumbent Senator Marco Rubio will likely face Democratic Representative Val Demings in November. In New York, two long-serving Democratic lawmakers, Jerry Nadler and Carolyn Maloney, face off in Manhattan’s redrawn 12th District – Bloomberg (23)

🇸🇪 Riksbank Deputy Governor Martin Floden speaks about Swedish and international monetary policy in Stockholm – Bloomberg (24)

🇫🇷 French President Emmanuel Macron and his cabinet gather for the first cabinet meeting after summer break – Bloomberg (24)

🇺🇸 July Durable Goods Orders (24)

🇯🇵 Bank of Japan board member Toyoaki Nakamura speaks in Fukuoka, Japan (25)

🇪🇺 ECB publishes an account of its July policy meeting – Bloomberg (25)

🇪🇺 Bank of Finland’s Tuomas Valimaki speaks about the European economy and monetary policy on a panel at the Eurooppa-foorumi 2022 – Bloomberg (25)

🇺🇸 2Q GDP 2nd estimate (25)

🇬🇧 Energy regulator Ofgem announces the October price cap, expected to raise the upper limit of charges for households by 65 per cent to £3,244 a year – FT (26)

🇺🇸 Kansas City Fed hosts its annual economic policy symposium in Jackson Hole, Wyoming. The theme is “Reassessing Constraints on the Economy and Policy.” – Bloomberg (25 to 27)

🇺🇸 July Personal Income and Spending (26)

🇺🇸 Fed Chair Jerome Powell speaks at the Kansas City Fed’s Jackson Hole symposium – Bloomberg (26)

Earnings

Previews

Focus on U.S. Economic Calendar

Top 10 Macro/Financial Charts of the Previous Week – w33

What happened in the World Economy last Week – in charts – w33 (Bloomberg)

*Note: Previous reports can be found here