Economic calendar: speeches from Fed bankers in the spotlight 🔑

• US labor market data - weekly Jobless Claims
• Ivey PMI from Canada
• Speeches from FOMC members

The macro calendar is relatively light today. In the first part of the day, investors already got to know the trade balance data from China, which turned out to be slightly below expectations. The trade surplus amounted to 68.3 billion dollars. At 7:00 AM BST, data on industrial production from Germany was published, which fell short of expectations; seasonally adjusted month-to-month data showed a decline of -0.8% m/m.

Later in the day, investors will learn about the Jobless Claims data from the US. A slight increase to 234k is forecasted for last week. This will be followed by the publication of the Ivey PMI from Canada. A slightly higher reading of 49.2 is expected compared to last month.

However, the key events today could be the speeches of bankers, which will provide guidance on the future policy of the Fed. Today we will hear from Harker, Goolsbee, William, Bostic, and Bowman.

Detailed calendar for the day:
10:00 AM BST, EU - Q2 GDP data:

• Quarterly: expected 0.3% q/q; previously -0.1% q/q
• Annually: expected 0.6% r/r; previously 1.0% r/r

1:30 PM BST, USA - Jobless Claims:

• Expected 234k; previously 228k

3:00 PM BST, Canada - Ivey PMI index for August:

• Expected 49.2; previously 48.6

Bankers' speeches:

• 3:00 PM BST, USA - FOMC member, Harker
• 4:45 PM BST, USA - FOMC member, Goolsbee
• 6:55 PM BST, Canada - BoC President, Macklem
• 8:30 PM BST, USA - FOMC member, William
• 8:45 PM BST, USA - FOMC member, Bostic
• 9:55 PM BST, USA - FOMC member, Bowman