Economic Calendar | August 23-27

Monday, August 23

This week, Monday will be an extremely busy day, which is quite rare. The week started with the publication of preliminary data on business activity indices. Australia's indicators leave much to be desired, showing a decline in the PMI index in both the services and manufacturing sectors (to 43.3 points and 51.7, respectively).

The situation in Europe is no better. Fresh data for August reflected a decline in all indices in the eurozone, France, Great Britain and Germany. The exception was the German services sector, where business activity declined better than forecast – only to 61.5, and not to 61.0, as analysts had assumed.

However, after the opening of the US session, all currencies without exception can begin to grow steadily, since a fairly significant decline in all business activity indices is expected in the United States without exception.

Tuesday, August 24

Tuesday will begin with the publication of statistics on German GDP in the second quarter. The market does not expect any changes in the indicators. And in the evening hours, it is worth paying attention to the sales of new housing in the United States in July: analysts expect some growth in the indicator.

Otherwise, the day will pass calmly and will become a kind of respite after a rather stormy start to the week.

Wednesday, August 25

On Wednesday, the IFO business climate index in Germany will be of interest, as well as statistics on orders for durable goods in the United States. Data from the US may put pressure on the dollar, as the volume of orders should decrease by 0.5%. And this indicates a future decline in retail sales and a decrease in consumer activity.

Thursday, August 26

On Thursday, it is worth paying attention only to the data from the United States. In addition to the number of applications for unemployment benefits, the second estimate of the GDP of the United States for the second quarter is also published. These data are likely to be ignored, as they should only confirm the first estimate, which showed an acceleration in economic growth from 0.5% to 12.2%. But the statistics on the number of appeals will support the greenback, as a further decrease in their number is expected.

Friday, August 27

At the end of the week, the Australian dollar will show a weakening of its positions. The reason for this will be retail sales, the volume of which may decrease by 0.7%. And this is despite the fact that a month earlier they had already decreased by 1.8%.

This data will complete the trading day, since nothing worthwhile is published after it.