What will the market be focused on next week
Next week is slow on major economic releases, but central bankers will be making up for the lack of major economic releases.
Here is the run down:
- Fed Speak. There are no fewer than 12 Fed member speaking next week. Part of me says, "Who cares?". We heard enough from the Yellen on Wednesday. Then again you have to start somewhere with the opinions and projections. So might as well be sooner rather than later. Note that because many are speaking, does not mean they will be talking about policy, their views on policy, where they fit in with the current consensus, etc.. We do know that George, Rosengren and Meister voted to raise rates. What day will each speak? Chair Yellen speaks on Wednesday to the House Panel on Bank supervisor. We already know her opinion Plus the topic is not exactly focused on Monetary policy. Vice chair Fischer, who spoke of possibly two tightenings not to long ago, will speak on Tuesday. As for the others, Tarullo and Kaplan speak on Monday. Mester and George, two dissenters, both speak on Wednesday along with Bullard and Evans. Feds Lockhart, Harker, Powell and Kashkari are scheduled to speak on Thursday.
- ECB President Draghi, Monday at 10 AM ET.1400 GMT. The ECB president is scheduled to testify before the Committee on Economic and Monetary Affairs of the European Parliament.
- BOJ Kuroda speaks. Thursday 2:35 AM ET, 0635 GMT. Due to speak at the National Securities Industry Convention in Tokyo.
- US Durable goods order. Wednesday 8:30 AM ET/1230 GMT. The August reading is expected to show a headline decline of -1.4% vs 4.4% increase in July. The Ex transportation is expected down -0.5% (vs +1.3%).
- US Conference Board consumer confidence Tuesday, 10 AM ET, 1400 GMT. US consumer confidence from the conference Board for the month of September we released with expectations of a decline to 98.7 from 101.1.
Other events worth noting:
- On Monday, BOC Poloz is due to speak at Western Washington University in Washington DC. (at 7:10 PM ET)
- ON Monday at 5:30 AM ET/0930 GMT. SNB chairman Jordan will be speakng at Sibos 2016 in Geneva.
- OPEC meets in Algeria on Wednesday
- China Manufacturing PMI, Friday at 9 PM ET. Estimate 50.5 vs 50.4