The agenda for this weekend will be full of announcements, both in monetary and statistical terms. Across the Atlantic, five indicators will be unveiled in the afternoon.
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Jackson Hole, continuation and end …. and many statistics | Crédits photo : Shutterstock
There will still be a question of monetary policy this weekend. The world’s big money-makers will parade (virtually) for the second day to present their point of view on the central theme of the Jackson Hole Economic Symposium this year, namely ” Navigating the coming decade: implications for monetary policy. At the same time, operators will be keen to decipher the numerous statistics appearing on the agenda. Before trading, the market will take notice of the index of German consumer confidence in September, French household consumption expenditure in July or even the preliminary estimate of inflation in France during the month of August.
By mid-morning, operators will keep an eye on the economic sentiment and the business climate in August in the euro zone (consensus: 85, against 82.3 in July). Finally, the afternoon will be devoted to American statistics. In addition to wholesale stocks in July, which generally gives investors little reaction, four indicators are expected: the trade deficit in July (consensus: 72 billion dollars), theChicago Area Purchasing Managers Index in August (consensus: 52.6, against 51.9 in July), that of the final household confidence calculated by the University of Michigan for the month of August (consensus: 72.8), and the evolution of personal income and household consumption expenditure in July.
« The latter should confirm, after the strong rebound in retail sales, that the Americans have used part of their savings accumulated during containment once they have been able to return to stores and, above all, to car dealerships. “, Estimates the research firm Aurel BGC. The consensus of analysts polled by Bloomberg expects a small drop of 0.4% in revenues, after their contraction of 1.1% in June and 4.2% in May. Consumer spending is expected to rise 1.5%, slowing down from the 5.6% increase recorded in June.
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