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5 things to know before the World Market opens 23 August 2023

by AgaBullion
5 things to know before the World Market opens 23 August 2023

HCOB Manufacturing PMI Flash (Aug) - Germany

The HCOB Germany Manufacturing PMI is compiled by S&P Global from responses to monthly questionnaires sent to purchasing managers in a panel of around 420 manufacturers. The headline figure is the Purchasing Managers’ Index (PMI), which is a weighted average of the following five indices: New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%) and Stocks of Purchases (10%). For the PMI calculation the Suppliers’ Delivery Times Index is inverted so that it moves in a comparable direction to the other indices. The index varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease.

Jackson Hole Symposium - United States


In the United States, the authority to set interest rates is divided between the Board of Governors of the Federal Reserve (Board) and the Federal Open Market Committee (FOMC). The Board decides on changes in discount rates after recommendations submitted by one or more of the regional Federal Reserve Banks. The FOMC decides on open market operations, including the desired levels of central bank money or the desired federal funds market rate.

Durable Goods Orders MoM (Jul) - United States

Durable Goods Orders refer to new orders placed with manufacturers for delivery of hard goods which meant to last at least three years.

Retail Sales MoM (Jun) - Canada

In Canada, the Retail sales report provides an aggregated measure of sales of retail goods and services over a specific time period. In Canada, Retail sales are seasonal, volatile and relatively important to the overall economy.

New Home Sales MoM (Jul) - United States

A sale of the new house occurs with the signing of a sales contract or the acceptance of a deposit. The house can be in any stage of construction: not yet started, under construction, or already completed. New home sales account for about 10 percent of the US housing market. New single-family home sales are extremely volatile month-to-month and preliminary figures are subject to large revisions because they are mostly drawn from building permits data.

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