The new trading week is likely to be dominated by the annual central bank meeting in Jackson Hole (Wyoming). Investors should therefore focus in particular on speeches by monetary policy representatives in the coming days. It remains to be seen whether the recent decline in US recession concerns will flare up again and catch investors on the wrong foot.
Fed representatives still in view - monetary policy stimulus possible
From the point of view of the economic data calendar, Monday is likely to be straightforward at first. At 15:15, investors can look forward to a speech by Fed Governor Christopher Waller, which will be scrutinized for monetary policy clues in the usual manner.
Numerous Fed central bankers had already made statements last week, some of which were openly in favor of interest rate cuts next September.
Investors should also keep an eye on Tuesday's speeches by Raphael Bostic from the Atlanta Fed (19:35) and Michael Barr (Vice Chairman for Supervision/20:45).
Fed minutes and central bank meetings likely to attract attention
Wednesday will be dominated by the publication of the FOMC minutes (20:00). These minutes can provide important clues about the Fed's most recent meeting two weeks ago.
When the most important central bank representatives meet at the economic symposium in Jackson Hole in the USA from Thursday, market participants are likely to keep their feet still and wait for a speech by Fed Chairman Jerome Powell on Friday (16:00). The event itself ends on Saturday.
In addition to the weekly initial claims for US unemployment benefits (14:30), new purchasing managers from S&P Global will also be in focus on Thursday afternoon (15:45). Investors could possibly put the data on the gold scale. Encouraging US economic data had pushed the recently dominating recession worries back into the background. Investors are likely to continue looking for confirmation that the US economy is doing less badly than expected.
Reporting season continues - companies from the second and third tiers present figures
The ongoing reporting season is likely to be less turbulent, especially as almost all US heavyweights have already presented their figures. From the second and third tiers, Zoom and Synopsys, for example, will present their figures on Tuesday and Workday on Wednesday.
Investors are still eagerly awaiting NVIDIA's figures, which are expected to be published next week on Wednesday.
