Week Ahead-Powell & Jackson Hole speakers take centre-stage
Aug 19 (Reuters) -Speeches by global central bank officials at the Federal Reserve'sJackson Hole Economic Policy Symposium, flash PMIs for major economies and the monthly fixing of China's loan prime rate will determine trends in financial markets this week.
The Jackson Hole event - used in the past to set the stage for future policy - runs from Aug 22-24, with a speech from FedChair Jerome Powell on the economic outlook on Friday. With U.S. inflation waning but still sticky and the labor market softening, Powell may signalimminent easing but is unlikely to endorse lingering expectations of sizable rate cuts.
Minutes of the Fed's July 30-31 meeting which opened the door to rate cuts are due on Wednesday. Fed Governor Christopher Waller and Atlanta Fed President Raphael Bostic deliver speeches while the key data releases are weekly jobless claims, flash S&P Global PMIs for August and existing and new home sales for July.
In Europe, the euro zone's final July HICP and current account data are dueTuesday and flash August PMIs and consumer confidence on Thursday. The European Central Bank'sJuly Monetary policy meeting accountswill be published and Sweden's Riksbank delivers a monetary policy decision.
The UK calendar is light with flash August PMIs the only release of note. Bank of England Governor Andrew Bailey speaks at Jackson Hole on Friday and may provide policy clues afterbenign inflation data fannedSeptember rate-cutbets.
In Japan, machinery orders, trade, flash PMIsand nationwide July CPI will be published. The CPI couldbe pivotal after GDPdata last week showed consumption rose for the first time in fivequarters, supportinganother near-term Bank of Japan rate hike.
China is likely to leave its one-year and five-year LPRs unchanged on Tuesday after a surprise cut in July. Yetnew home prices fell at their fastest pace in nine years last month,exacerbating theeconomic slump.
The Reserve Bank of Australia publishes the minutes of its August meeting, when it ruled out a near-term rate cut. New Zealand's trade and retail sales dataare due, while Canada releases CPI and retail sales too.
For more click on FXBUZ
China's home-price slump deepens to 9-year low in July: https://reut.rs/3WEF2ZK
Powell's policy sprint, a pivot, and a reset: https://tmsnrt.rs/3qQdxgq
Krishna Kumar is a Reuters market analyst. The views expressed are his own. Editing by Sonali Desai
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