{"id":293348,"date":"2020-08-24T02:46:25","date_gmt":"2020-08-23T16:46:25","guid":{"rendered":"https:\/\/www.gomarketingteam.com\/articles\/jackson-hole-symposium\/"},"modified":"2021-02-19T12:13:33","modified_gmt":"2021-02-19T01:13:33","slug":"jackson-hole-symposium","status":"publish","type":"post","link":"https:\/\/www.gomarkets.com\/en\/weekly-summaries\/jackson-hole-symposium\/","title":{"rendered":"Jackson Hole Symposium"},"content":{"rendered":"

By Deepta Bolaky<\/strong>
\n\u00a0@DeeptaGOMarkets<\/a><\/p>\n

I<\/span>n a pandemic-induced environment supported by ongoing fiscal and monetary policies, all eyes will be on the exclusive central bank conference which fosters open discussions about global policy matters. The 2020 Economic Policy Symposium will be conducted online from August 27th to August 28th and will focus on:<\/span><\/p>\n

\u00a0<\/span>\u201cNavigating the Decade Ahead: Implications for Monetary Policy\u201d.\u00a0<\/b><\/p>\n

Investors will eagerly await for the updates from central bankers, policymakers and economists around the world at the Economic Symposium while monitoring a packed economic calendar for clearer signals on the recovery path.<\/span><\/p>\n

United States<\/b><\/h5>\n

Investors remained concerned over the standoff by US lawmakers over the stimulus package as any delay in agreeing over a plan will be at the detriment of the economic recovery. Housing Permits and Starts came above expectations last week and we expect more housing data this week to shed light on the housing market. We will see more surveys to gauge the overall economic activity, consumer behaviour and the US employment situation.\u00a0<\/span><\/p>\n

The preliminary figures of the US Q2 GDP will stand out this week. The latest GDP figures show that the economy is poised to shrink by 32.9% – the deepest decline in decades. Markets are expecting some upward revision given the rebound in May and June.<\/span><\/p>\n

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New Zealand & Australia\u00a0<\/b><\/h5>\n

The Antipodeans have been on a rally following March lows. The New Zealand dollar eased from this year’s highs after the RBNZ expanded the asset purchasing programme and opened doors for negative rates. On the economic front, traders will likely monitor Retail Sales figures, Trae Balance, Import and Exports for fresh trading impetus. On the other side, amid a lack of key events for Australia, its local currency will be mostly left at the broader sentiment of the markets. <\/span><\/p>\n

UK & Eurozone<\/b><\/h5>\n

Last week, we saw a key distinction between the UK and the Eurozone economic activity. The Eurozone economy loses momentum while UK business accelerates in August after renewed travel restrictions.<\/span><\/p>\n

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Eurozone flash PMI numbers:<\/b><\/h5>\n