Economic Calendar for the week starting 22Jul24 - PCE coming
Public Holidays
America, Hong Kong, Singapore and China do not have public holidays in the coming week.
Economic Calendar (22Jul24)
Notable Highlights
The core PCE price index will be the most watched economic data in the coming week. This is the main reference preferred by the Federal Reserve coming to inflation. The year-on-year PCE price index is expected to be 2.6%. This will form a key consideration for the coming Federal Reserve interest rate decision.
The other important economic data will be the GDP result for Q2 with a forecast of 2.0%. If the reported GDP is higher than reported, this should be bullish for the market in general.
Existing home sales and new home sales data will be released in the coming week. This will be an important reference on the real estate market in America.
S&P Global US manufacturing PMI and S&P Global Services PMI results will be released in the coming week. From the previous PMI, both the manufacturing and services sectors are experiencing growth. Will the growth continue?
Durable goods orders will also be released with a forecast of 0.3%.
Initial jobless claims will also be key macro data that the Federal Reserve will look into as they ponder the next interest rate decision.
Crude Oil Inventories can be seen as forward indicators of market demand and consumption. If the trend of excess inventories continues, demand erosion can lead to reduced production & weakening consumer spending.
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