Weekly outlook Sept 21-25: main events and macrostatistics

Compared with the previous week, this week's economic calendar is lighter. High volatility is not expected due to the absence of heavyweight reports. However, several important speeches will be closely monitored.

Monday, September 21

Markets in Japan will remain closed for a bank holiday, thus volatility in the yen is expected to be thin.

Canada is to publish data on wholesale sales. Later in the day, Bank of Canada Governor Stephen Poloz is to speak at an event in Calgary.

The U.S. is to release a report on existing home sales.

Tuesday, September 22

Markets in Japan will be closed for a national holiday.

Australia is to release figures on house price inflation.

Switzerland is to report on the trade balance.

The U.K. is to produce data on public sector borrowing.

Wednesday, September 23

Markets in Japan will be closed for a national holiday.

China is to reveal the preliminary reading of its Caixin manufacturing index.

The Swiss National Bank will release its Quarterly Bulletin for the third quarter.

The euro zone is to publish preliminary data on manufacturing and service sector activity.

European Central Bank President Mario Draghi is to testify on monetary policy before the European Parliament's Economic and Monetary Committee, in Brussels.

Canada is to release data on retail sales.

Thursday, September 24

New Zealand is to publish a report on the trade balance.

German Gfk consumer confidence survey for October, as well as September’s IFO Survey for September’s Expectations, Business Climate and Current Assessment will be out.

In the euro area, targeted LTRO (Long-Term Refinancing Operation) will be published.

The U.S. is to release data on durable goods orders, initial jobless claims and new home sales.

Fed Chair Janet Yellen is to speak at an event at the University of Massachusetts.

Friday, September 25

Japan is to release data on consumer inflation.

German Buba president will have Jens Weidmann has a press conference.

The U.S. will issue final GDP growth for Q2 will hog the limelight. The personal consumption expenditures for Q2 is scheduled to come out as well as the flash Markit Services and Composite PMI for September.

The University of Michigan will print the flash consumer sentiment index also for September.