The Business News Week Ahead

The week will open decisively on Monday with the monthly flurry of August PMI flashes headlined first by Japan, France, then Germany, the UK and the US. More of the same is expected, that is (outside of Japan which is weak) readings orbiting the 60 mark whether for manufacturing or services. The week will likewise close in decisive fashion: first with US personal income and outlays on Friday which will include the core PCE price index where moderation is expected; this will be followed by Jackson Hole remarks from Jerome Powell at 10:00 EDT where inflation and tapering will be two topics of special interest. In between, the week will see the consumer confidence flash from Europe, amid expectations for another month of weakness, as well as German sentiment indicators from Ifo and GfK which are also expected to show no improvement. US data will also include new home sales on Monday, durable goods orders on Wednesday where extended strength for capital goods is expected, and US goods trade on Friday where improvement is the call. Outside of Jackson Hole, scheduled central bank activities will include a Bank of Korea announcement on Thursday