The Week Ahead
Week commencing 25 August
Chris Beauchamp insight
Markets will spend the week digesting Jerome Powell’s comments at Jackson Hole, as the countdown begins to the next Fed decision. A slew of US economic data dominates the week, including durable goods orders and a revision to second-quarter's (Q2) gross domestic product (GDP) data. However, the big event of the week will be Nvidia’s earnings. As the largest company in the world the chip maker has the power to set the tone of market direction, and will essentially mark the end of the current US earnings season.
Economic reports
- Monday
- Tuesday
- Wednesday
- Thursday
- Friday
- Weekly view
UK bank holiday
9am – German IFO index (August): expected to fall to 87 from 88.6. Markets to watch: EUR crosses
1.30pm – US Chicago Fed index (July): expected to fall to -0.2 from -0.1. Markets to watch: USD crosses
3pm – US new home sales (July): forecast to fall 1.1% month-on-month (MoM). Markets to watch: USD crosses
1.30pm – US durable goods orders (July): orders expected to fall 2.5% MoM, from last month’s 9.3% drop. Markets to watch: USD crosses
3pm – US consumer confidence (August): expected to fall to 96 from 97.2. Markets to watch: USD crosses
3.30pm – US EIA crude oil inventories (w/e 22 August): stockpiles declined by 6 million barrels in the preceding week. Markets to watch: Brent, WTI
1.30pm – US GDP (Q2, 2nd estimate), initial jobless claims: quarter-on-quarter (QoQ) GDP growth expected to be revised up to 3.1% from 3%. Claims fell to 235K in the preceding week. Markets to watch: US indices, USD crosses
1pm – German inflation (August, preliminary): prices expected to rise 2.1% year-on-year (YoY) from 2%, and 0.1% from 0.3% MoM. Markets to watch: EUR crosses
1.30pm – US personal consumption expenditures (PCE) price index (July): prices expected to rise 2.6% YoY, in line with last month. Core PCE expected to rise 0.2% MoM from 0.3%. Markets to watch: US indices, USD crosses
2.45pm – US Chicago purchasing managers index (PMI) (August): index expected to fall to 46 from 47.1. Markets to watch: USD crosses
Monday
UK bank holiday
9am – German IFO index (August): expected to fall to 87 from 88.6. Markets to watch: EUR crosses
1.30pm – US Chicago Fed index (July): expected to fall to -0.2 from -0.1. Markets to watch: USD crosses
3pm – US new home sales (July): forecast to fall 1.1% MoM. Markets to watch: USD crosses
Tuesday
1.30pm – US durable goods orders (July): orders expected to fall 2.5% MoM, from last month’s 9.3% drop. Markets to watch: USD crosses
3pm – US consumer confidence (August): expected to fall to 96 from 97.2. Markets to watch: USD crosses
Wednesday
3.30pm – US EIA crude oil inventories (w/e 22 August): stockpiles declined by 6 million barrels in the preceding week. Markets to watch: Brent, WTI
Thursday
1.30pm – US GDP (Q2, 2nd estimate), initial jobless claims: QoQ GDP growth expected to be revised up to 3.1% from 3%. Claims fell to 235K in the preceding week. Markets to watch: US indices, USD crosses
Friday
1pm – German inflation (August, preliminary): prices expected to rise 2.1% YoY from 2%, and 0.1% from 0.3% MoM. Markets to watch: EUR crosses
1.30pm – US PCE price index (July): prices expected to rise 2.6% YoY, in line with last month. Core PCE expected to rise 0.2% MoM from 0.3%. Markets to watch: US indices, USD crosses
2.45pm – US Chicago PMI (August): index expected to fall to 46 from 47.1. Markets to watch: USD crosses
Company announcements
Monday |
Tuesday |
Wednesday |
Thursday |
Friday |
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Full-year earnings |
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Half/ Quarterly earnings |
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| Trading update |
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Dividends
FTSE ex-dividend dates (28 August):
FTSE 100: Glencore, Auto Trader, Games Workshop, Croda International, Alliance Witan, Aviva, Londonmetric Property
FTSE 250: Diversified Energy Company, Dr. Martens, PayPoint, Currys, Currys, RHI Magnesita, Clarkson, Quilter, Serco, Genuit, PageGroup, Savills, OneSavings Bank (OSB)
Index adjustments
|
Monday 25 August |
Tuesday 26 August |
Wednesday 27 August |
Thursday 28 August |
Friday 29 August |
Monday 31 August |
| FTSE 100 | 2.92 | |||||
| Australia 200 | 3.2 | 4.9 | 7.7 | 0.6 | 1.4 | 2.3 |
| Wall Street | 8.0 | 14.1 | 24.6 | 13.3 | ||
| US 500 | 0.42 | 0.01 | 0.43 | 0.57 | 1.26 | |
| Nasdaq 100 | 2.27 | 0.65 | ||||
| Netherlands 25 | 0.21 | 0.17 | ||||
| US Russell 2000 | 0.07 | 0.04 | 0.05 | 0.49 | 0.00 | 0.35 |
| China H-Shares | 1.0 | 14.0 | 2.2 | |||
| Singapore Blue Chip | 0.12 | |||||
| Hong Kong HS50 | 1.7 | 3.2 | 2.2 | 0.8 | 26.9 | 22.7 |
| South Africa 40 | ||||||
| France 40 | ||||||
| Stoxx 600 | 0.3 |
* Please note these can change without notice
1 Dividend adjustments due to be posted on a bank holiday will usually be posted on the previous working day
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