U.S. President Barack Obama delivers remarks at the eighth annual National Clean Energy Summit in Las Vegas, kicking off a campaign to promote his climate agenda ahead of United Nations-sponsored negotiations in December.
India is set to issue a statement on how it plans to reduce carbon emissions as part of its pledge to the United Nations before December’s conference. China, the U.S. and the European Union, the top three producers of greenhouse gases, have already pledged significant reductions. India, the fourth biggest, has yet to do so, and early indications suggest the developing nation won’t be as aggressive.
ECONOMY: Chicago Fed National Activity Index (July), Bloomberg Nanos Canadian Confidence Index (weekly), Mexico bi-weekly CPI (Aug. 15), Taiwan industrial production (July), Israel unemployment rate (July).
TUESDAY, AUG. 25
Home prices in 20 U.S. cities probably climbed at a faster pace in the year ended in June amid a pickup in demand, economists project an S&P/Case-Shiller index will show.
Purchases of new U.S. homes probably rebounded in July after unexpectedly retreating in June.
The International Atomic Energy Agency’s board of governors meets in an extraordinary session to learn details of how the organization will monitor the July 14 nuclear accord signed between Iran and world powers.
Bank of Canada Deputy Governor Lawrence Schembri will discuss international house prices at the Canadian Association for Business Economics’ summer conference in Kingston, Ontario.
ECONOMY: FHFA U.S. home price index (June), Markit U.S. services PMI (Aug. preliminary), Richmond Fed manufacturing index (Aug.), Brazil current account balance (July), Conference Board China Leading Economic Index (July), Hong Kong exports, imports, trade balance (July), South Africa GDP (second quarter), South Africa mining production (June), Turkey capacity utilization (Aug.), German GDP (second quarter), Ifo German business confidence (Aug.), Czech business and consumer confidence (Aug.), Poland unemployment rate (July).
WEDNESDAY, AUG. 26
Orders for U.S. durable goods probably fell in July after rebounding in June on demand for commercial aircraft.
Federal Reserve Bank of New York President William C. Dudley will answer questions following a 10:00 EDT press briefing on the local and regional economy.
The Americas Society/Council of the Americas holds its annual conference in Buenos Aires with speakers including Argentine presidential candidates Mauricio Macri, Daniel Scioli and Sergio Massa, as well as Central Bank President Alejandro Vanoli and executives from Barrick Gold Corp. and Facebook Inc. 09:00.
The U.S. Energy Information Administration releases its U.S. oil inventory report.
ECONOMY: MBA U.S. mortgage applications (weekly), Brazil total outstanding loans (July), U.K. CBI retail sales (Aug.).
THURSDAY, AUG. 27
U.S. gross domestic product probably grew at a faster annualized rate in the second quarter, according to the median estimate of economists ahead of the Commerce Department’s revised data.
Pending sales of existing U.S. homes likely gained in July after unexpectedly falling for the first time this year in June.
The U.S. Food and Drug Administration will decide by today on whether to grant marketing approval for Amgen Inc.’s Repatha cholestrol-lowering drug. The decision would follow the agency’s July approval of the similar Praluent, manufactured by Sanofi and Regeneron Pharmaceuticals Inc.
The U.S. Energy Information Administration releases its natural gas inventory report.
ECONOMY: U.S. jobless claims (weekly), Bloomberg U.S. consumer comfort (weekly), Kansas City Fed manufacturing (Aug.), Philippines GDP (second quarter), South Africa PPI (July), Turkey foreign tourist arrivals (July), euro-area M3 (July), French manufacturing confidence (Aug.), U.K. Nationwide house prices (Aug.), Russia gold and forex reserves (Aug. 21).
FRIDAY, AUG. 28
Japan releases consumer price index data for July, with economists projecting a decline of 0.2 percent for the central bank’s core measure for inflation.
The U.K. Office for National Statistics publishes its second estimate of second-quarter gross domestic product, which is based on revised output figures, together with some expenditure and income data. It will contain information on consumer and government spending, exports and imports, capital formation, and business investment.
Brazil’s economy probably contracted in the second quarter on government austerity measures and the highest interest rates in nine years. Analysts see GDP declining 2 percent this year and 0.15 percent in 2016, which would be Brazil’s longest recession since 1931.
U.S. households probably continued spending in July, with the median estimate of economists calling for a 0.4 percent gain in expenditures. The Commerce Department will also report personal income data for that month.
Confidence among U.S. consumers was probably little changed in August from a month earlier, with the University of Michigan’s final index expected to register 93.2 after July’s 93.1.
ECONOMY: Canada raw material prices (July), Brazil IGP-M inflation index (Aug.), Mexico unemployment rate (July), China industrial profits (July), Portugal retail sales (July), Portugal industrial production (July), German inflation (Aug.), Spanish inflation (Aug.), Italian consumer and business confidence (Aug.), U.K. GfK consumer confidence (Aug.), Hungary unemployment rate (July), Czech GDP (second quarter), Polish GDP (second quarter).