Friday may bring a much-anticipated update on Fed’s monetary policy plans, so keep watching this Economic Calendar to find out more.
Starting things off at 6 AM is the German GfK Consumer Confidence for August. The Index inched slightly lower in July, but it remains near the 11-month high recorded in June.
Two updates on British economy in the second quarter will be available at half past 8, including the closely watched second estimate GDP. The preliminary reading puts the quarterly growth at point 6%, which is the strongest increase in a year.
Preliminary Business Investment is out at the same time. Investment has been declining for the past two quarters, and this release is expected to show further drop.
Coming up next at 12:30 PM GMT is the high importance second estimate of US second quarter GDP. According to the preliminary estimate, the US economy is growing at the fastest pace in 3 quarters.
US Trade Goods Balance for July is scheduled at the same time. Trade deficit widened in June as imports grew faster than exports.
Federal Reserve Chair Janet Yellen will be giving a very closely watched speech at 2 o’clock. She will be speaking at Jackson Hole Policy Symposium, and traders will be looking for some clarity on the possibility and timing of a rate hike.
And the final version of University of Michigan Consumer Confidence for August is out at this time as well. The preliminary results suggest the Index has gained point 4 points as US consumers are increasingly optimistic about their future prospects.
So these are the news events to watch on Friday, the 26th of August. I’m Sam Meredith and our next Calendar will cover Monday. See you then.
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