Here
are the links to the weekly roundups, reviews and also previews of the
beginning week. Last week’s roundup-post is here.
Follow ‘MoreLiver’
on Twitter
LAST WEEK
Stocks
Extend Winning Streak To Longest In 4 Years Despite Deluge Of Dismal Data
NEXT WEEK
Economic
Calendar – Berenberg
Global Week Ahead – BB
Yellen at Jackson Hole;
U.S. Housing Data * Merkel makes the rounds in Europe; Glencore, Vanke earnings
* Fed chair’s comments will be parsed for interest-rate clues
Stock
rotation to continue as Fed seen open to 2016 hike
Weighing the Week
Ahead: A showdown at Jackson Hole? – Jeff
Miller
This
week’s calendar features yet another light week for data, a lot of politics,
and slow summer trading. Something has to fill all of that air time! This week
the punditry gets their favorite topic – the Fed. Chair Yellen’s speech on
Friday may set the tone for post-election monetary policy. Sometimes there is
also a presentation from a non-Fed economist that challenges current policy.
Will there be a showdown at Jackson Hole?
The
upcoming week will bring US inflation and industrial production data,
indicating whether the manufacturers continue pulling out of the slump. In the
Euro area, final inflation numbers and German ZEW expectations will be
released. Japanese Q2 GDP growth is set to show a significant slowdown compared
to the previous quarter. In the UK, July retail sales figures will be the first
hard data on the impact of Brexit vote. In terms of Nordic data, next week will
be calm.
The
FOMC minutes should reveal more information on triggers for the next rate hike.
US
regional
surveys are due to give the first indications of August activity * We expect UK
data for retail sales and house prices to show more weakness following the
Brexit vote * Chinese property prices are likely to slow from strong increases
Risk
sentiment has been supported by positive macro momentum, lower tail risks and
monetary
easing * We see more upside for now but too high earnings expectations and a
potential loss of macro momentum are looming * Bonds are still supported by QE *
EUR/USD set to be range bound in coming months before moving higher.
Productivity
Slump Dampens Outlook
Another
US rate hike is getting closer, whether it will be this year or next * US
tightening has led to increased volatility on financial markets in the past and
to a negative response of the global economy * The odds of a more positive
development this time around have improved
Sterling
Bears and Yen Bulls are Enjoying August
Dollar's
Downside Beckons in the Week Ahead
FX 4 Next Week – TF
USD
in focus ahead of Fed symposium