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Weekly Outlook: Aug 19 - Aug 23: Meeting Minutes From RBA, FOMC and ECB, Preliminary PMIs

JFD

The main events for this week will be the release of the meeting minutes from the RBA, the FOMC and the ECB. Everyone will be on the lookout for any hints on their further monetary policy steps. The eurozone will produce its final inflation numbers for July. Thursday will be a preliminary PMI day for Australia, Japan, France, Germany and for the eurozone as a whole.

Monday will be somewhat of a quiet day in terms of economic data releases. The only meaningful numbers could be the eurozone CPIs for the month of July. The core MoM and YoY inflation figures are expected to have remained the same as initial estimate, at -0.6% and +0.9% respectively. The headline MoM number is forecasted to come out at -0.4%, which is well below the previous +0.2%. But the headline YoY number is expected to remain the same, at +1.1%. Although the forecast is the same as the previous figure, still, it is well below the ECB inflation target, which is currently at +2.0% over the medium term.

On Tuesday, during the Asian morning, we will get the Monetary Policy Meeting Minutes from the Reserve Bank of Australia. At that meeting, Australian policymakers kept interest rates unchanged at...

Read the full financial markets weekly outlook on JFD Research.

JFD Review

Source: https://www.jfdbank.com/en/research/weekly-outlook-aug-19-aug-23-meeting-minutes-from-rba-fomc-and-ecb-preliminary-pmis-20190819
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