Date 26 Aug 24 (Mon) : Powell said "Time Has Come for September Rate Cut

Fed Chair Powell Signals ‘Time Has Come’ for September Rate Cut

Remarks:

While the markets are cheering for the optimistic speech from the Fed Chair Powell, there are still 2 inflation data need to be watched out for before FOMC starts in the mid september. In addition, USD will turn weaker with the anticipation of falling rates

And Gold price will also continue its uptrend against the weaker Dollar, and therefore a more volatile commodities prices will be expected. And US job data will become focus to gauge whether US economy can avoid recession.

https://www.nytimes.com/2024/08/23/business/economy/fed-rates-powell-jackson-hole.html

https://www.bloomberg.com/news/articles/2024-08-23/powell-says-time-has-come-for-fed-to-cut-interest-rates

https://www.cnbc.com/2024/08/23/fed-chair-powell-indicates-interest-rate-cuts-ahead-the-time-has-come-for-policy-to-adjust.html

---

THIS WEEK DATA

Singapore

Mon, Aug 26, 2024 : Industrial Production (Just released)

MoM, Jul: -4.3% to 10.1%

YoY, Jul: -4.3% to 1.8%

Abstract from EDB Singapore: https://www.edb.gov.sg/en/about-edb/media-releases-publications/monthly-manufacturing-performance.html

Unit States

Mon, Aug 26, 2024 : Durable Goods Orders

Tue, Aug 27, 2024 : CB Consumer Confidence

2-Year Note Auction

API Weekly Crude Oil Stock

Wed, Aug 28, 2024 : Crude Oil Inventories

5-Year Note Auction Thu, Aug 29, 2024 : GDP

Goods Trade Balanced

Initial Jobless Claims

Pending Home Sales

7-Year Note Auction

Fed's Balance Sheet

Fri, Aug 30, 2024 : PCE Price Index

Personal Spending

Chicago PMI

Michigan Consumer Expectations

China

Mon, Aug 26, 2024 : Chinese Industrial profit

Fri, Aug 30, 2024 : Chinese Composite PMI

Manufacturing PMI

Non-Manufacturing PMI

Japan

Tue, Aug 27, 2024 : BoJ Core CPI

Thu, Aug 29, 2024 : Tokyo Core CPI

Industrial Production