The Week Ahead: August 17 – 21

Housing Starts, Fed Minutes, Japan GDP: Week Ahead Aug. 17-21


  • EnerCom’s The Oil & Gas Conference. Officials at exploration and production companies including Continental Resources Inc., Halcon Resources Corp. and Cheniere Energy Inc. will be presenting. The conference is through Aug. 19 in Denver.
  • Japan releases second-quarter gross domestic product data, with economists projecting that the world’s third-largest economy contracted 1.8 percent in the period.
  • ECONOMY: U.S. Empire State manufacturing (Aug.), U.S. NAHB homebuilder sentiment (Aug.), U.S. net foreign securities purchases (June), Thailand GDP (second quarter), Turkey unemployment rate (May), Russia may report industrial production (July), U.K. Rightmove house prices (Aug.), euro area trade balance (June).


  • U.S. housing starts probably climbed in July for a second month, economists forecast the Commerce Department to report. Steady job gains, low mortgage rates and a gradual easing of lending standards are propelling sales.
  • ECONOMY: Chile GDP (second quarter), China property prices (July), CPI Forecast (Aug.), Czech PPI (July), Poland wages (July), Ukraine industrial production (July), Russia may report PPI (July), U.K. inflation and producer-price data (July), U.K. ONS house-price report (June), Portugal PPI (July).


  • Consumer prices in the U.S. probably crept higher in July, leaving the year-over-year advance well short of the Federal Reserve’s inflation goal, economists project the Labor Department to report.
  • The Federal Reserve releases minutes from its July 28-29 meeting that may shed light on the debate policy makers are having over the timing of the first increase in the nation’s benchmark interest rate since 2006. Investors are pricing in a 42 percent chance of a rate increase at the Sept. 16-17 meeting. 2:00 p.m. EST in Washington.
  • Norway’s sovereign wealth fund, the world’s largest, will probably report that returns were little changed in the second quarter.
  • The U.S. Energy Information Administration releases its U.S. oil inventory report.
  • ECONOMY: U.S. MBA mortgage applications (weekly), Japan trade (July), South Africa CPI (July), South Africa retail sales (June), Poland industrial output (July), Poland PPI (July), Poland retail sales (July), Russia wages (July), Russia retail sales (July), Russia unemployment rate (July), ECB current account (June).


  • Sales of previously owned U.S. homes probably cooled in July after reaching an eight-year high a month earlier, economists project a National Association of Realtors report will show. The housing market has picked up in recent months as the labor market strengthens and borrowing costs stay near historical lows.
  • Greece deadline. The country must make a 3.2 billion-euro ($3.6 billion) payment to the European Central Bank by Aug. 20. Greece’s creditors are seeking to reach an agreement on an aid program in time for the country to make the payment.
  • The American Petroleum Institute releases its monthly report on U.S. oil inventories and demand.
  • ECONOMY: U.S. jobless claims (weekly), U.S. Bloomberg consumer comfort (weekly and August expectations), U.S. leading economic indicators (July), U.S. Philadelphia manufacturing index (August), Brazil unemployment rate (July), Mexico GDP (second quarter), Norway GDP (second quarter), Russian central bank reserves (Aug. 14), Hungary economic sentiment (Aug.), Netherlands consumer confidence (Aug.), Netherlands unemployment (July), U.K. retail sales (July), U.K. CBI trends survey (Aug.).


  • Commodity Futures Trading Commission weekly report on futures and options positions for oil.
  • ECONOMY: Brazil IPCA-15 inflation index (Aug.), Mexico retail sales (June), Estonia PPI (July), Slovenia PPI (July), Latvia PPI (July), German GfK consumer confidence (Sept.), U.K. public finances (July), euro area consumer confidence (Aug.).




Categories: Capital Markets

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