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Week commencing 20 August

Chris Beauchamp, market analyst

Flash purchasing manager indexes (PMIs), durable goods orders and minutes of the Federal Reserve (Fed) and European Central Bank (ECB) meetings are the key events to watch out for this week on the economic calendar.

Meanwhile, earnings include full-year numbers from BHP Billiton, plus first-half figures from Persimmon, Premier Oil and John Wood Group

Economic reports

Week commencing 20 August

Monday

7am – German PPI (July): expected to rise to 0.4% from 0.3% MoM. Market to watch: EUR crosses

Tuesday

None

Wednesday

3pm – US existing home sales (July): forecast to rise 0.4% MoM from a 0.6% drop a month earlier. Markets to watch: US indices, USD crosses

3.30pm – US EIA crude inventories (w/e 17 August): expected to see stockpiles fall by 520,000 barrels. Markets to watch: Brent, WTI

7pm – FOMC minutes: no change at the latest meeting means these minutes may not provide too much in the way of new information, but given the rally in the dollar over the past month the minutes will need to strike a hawkish tone to avoid provoking a possible selloff in the greenback. Markets to watch: US indices, USD crosses

Thursday

1.30am – Japan mfg PMI (August, flash): forecast to rise to 52.5 from 52.3. Markets to watch: Nikkei, JPY crosses

8am – 9am – French, German, eurozone mfg & services PMI (August, flash): German mfg PMI to fall to 55.5 from 56.9, while eurozone mfg PMI to fall to 54.6 from 55.1. Markets to watch: eurozone indices, EUR crosses

12.30pm – ECB meeting minutes: these could provide some support to a flagging euro if they reinforce the image of a bank moving towards tightening policy in the longer term. Markets to watch: eurozone indices, EUR crosses

1.30pm – US initial jobless claims (w/e 18 August): claims expected to rise to 217K from 212K. Markets to watch: US indices, USD crosses

2.45pm – US mfg & services PMI (August, flash): mfg PMI to fall to 55.2 from 55.3, while services PMI to fall to 54 from 56. Markets to watch: US indices, USD crosses

3pm – US new home sales (July): forecast to rise 0.6% MoM from -5.3%. Markets to watch: US indices, USD crosses

3pm – eurozone consumer confidence (August, flash): forecast to fall to -0.7 from -0.6. Markets to watch: eurozone indices, EUR crosses

Friday

12.30am – Japan CPI (July): expected to be -0.2% MoM and 1.2% YoY from 0.1% and 0.7% respectively. Core CPI to hold at 0.8% YoY. Market to watch: JPY crosses

1.30pm – US durable goods orders (July): forecast to grow 0.8% MoM from 1%, while excluding transportation orders expected to rise 0.3% from 0.4%. Markets to watch: US indices, USD crosses

Weekly view

Monday

7am – German PPI (July): expected to rise to 0.4% from 0.3% MoM. Market to watch: EUR crosses

Tuesday

None

Wednesday

3pm – US existing home sales (July): forecast to rise 0.4% MoM from a 0.6% drop a month earlier. Markets to watch: US indices, USD crosses

3.30pm – US EIA crude inventories (w/e 17 August): expected to see stockpiles fall by 520,000 barrels. Markets to watch: Brent, WTI

7pm – FOMC minutes: no change at the latest meeting means these minutes may not provide too much in the way of new information, but given the rally in the dollar over the past month the minutes will need to strike a hawkish tone to avoid provoking a possible selloff in the greenback. Markets to watch: US indices, USD crosses

Thursday

1.30am – Japan mfg PMI (August, flash): forecast to rise to 52.5 from 52.3. Markets to watch: Nikkei, JPY crosses

8am – 9am – French, German, eurozone mfg & services PMI (August, flash): German mfg PMI to fall to 55.5 from 56.9, while eurozone mfg PMI to fall to 54.6 from 55.1. Markets to watch: eurozone indices, EUR crosses

12.30pm – ECB meeting minutes: these could provide some support to a flagging euro if they reinforce the image of a bank moving towards tightening policy in the longer term. Markets to watch: eurozone indices, EUR crosses

1.30pm – US initial jobless claims (w/e 18 August): claims expected to rise to 217K from 212K. Markets to watch: US indices, USD crosses

2.45pm – US mfg & services PMI (August, flash): mfg PMI to fall to 55.2 from 55.3, while services PMI to fall to 54 from 56. Markets to watch: US indices, USD crosses

3pm – US new home sales (July): forecast to rise 0.6% MoM from -5.3%. Markets to watch: US indices, USD crosses

3pm – eurozone consumer confidence (August, flash): forecast to fall to -0.7 from -0.6. Markets to watch: eurozone indices, EUR crosses

Friday

12.30am – Japan CPI (July): expected to be -0.2% MoM and 1.2% YoY from 0.1% and 0.7% respectively. Core CPI to hold at 0.8% YoY. Market to watch: JPY crosses

1.30pm – US durable goods orders (July): forecast to grow 0.8% MoM from 1%, while excluding transportation orders expected to rise 0.3% from 0.4%. Markets to watch: US indices, USD crosses

Company announcements

  Monday 20 Tuesday 21 Wednesday 22 Thursday 23 Friday 24

Full-year earnings

 

BHP Billiton

 

 

 

Half/Quarterly earnings

NMC Health,

TBC Bank

John Wood Group,

Persimmon,

Charter Court Financial Services,

Energean Oil & Gas

Grafton Group,

Polymetal,

HP

Premier Oil,

OneSavings Bank,

John Laing Group,

Playtech,

CRH,

Phoenix Group,

Gap,

Dollar Tree,

Broadcom

Computacenter

Trading update

 

   

 

 

Upcoming dividends (23 August)

FTSE 100: Imperial Brands, Carnival, Croda, London Stock Exchange, Mondi, Paddy Power Betfair, Prudential, RBS

FTSE 250: Dixons Carphone, Stagecoach, FDM, Jardine Lloyd Thompson, Ferrexpo, Rotork, Quilter, CLS Holdings, Hikma 

Dividends are applied after the close of the previous day’s session for each market. So, for example, the FTSE 100 goes ex-dividend on a Thursday, but the adjustment is applied at the close of the previous day e.g. Wednesday. The table below shows the days in which the adjustment is applied, not the ex-dividend days.

Index dividend adjustments

  Monday 20 August Tuesday 21 August Wednesday 22 August Thursday 23 August Friday 24 August Monday 27 August
FTSE 100

 

 

4.3

     
Australia 200

2.5

3.0 3.9 0.2 1.5 0.4
Wall Street

 

  9.2   6.1  
US 500 0.11 0.08 0.18 0.04 0.33 0.02
Nasdaq 0.10 0.43 0.04      
France 40            
Netherlands 25       0.25 0.10  
EU Stocks 50            
China H-Shares         0.4  
Singapore Blue Chip     0.04 0.04    
Hong Kong HS50 13.6 5.2   3.4 2.8  
South Africa 40   14        
Italy 40            
Japan 225          

 

 

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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