Fundamentals to watch out for this week

This week is a quite heavy with volatility risks, especially in terms of data and events as well.

What to watch for over the coming days:

• Central banks:

Several Fed policymakers are scheduled to speak this week. Fed governor Leal Brainard, Dallas Fed president Robert Kaplan, Minneapolis Fed president Neel Kashkari — all voting members of the monetary policy setting Federal Open market Committee — are slated to deliver remarks on Tuesday. Meanwhile, New York Fed president Bill Dudley and Philadelphia Fed president Patrick Harker, fellow voting members of the FOMC, are also scheduled to deliver remarks next week. Reserve Bank of Australia (RBA) will announce interest rate decision on Tuesday. Bank of Canada (BoC) will announce interest rate decision on Wednesday. European Central Bank (ECB) will announce interest rate decision on Thursday.

• Economic data:

Services PMI reports from around the world on Tuesday. Australia second quarter GDP on Wednesday. China forex Reserve on Thursday and trade balance on Friday. Eurozone second quarter GDP on Thursday. Japan second quarter GDP on Thursday. Canada unemployment report on Friday.

• U.S. debt ceiling:

On Tuesday, Congress returns from its August recess with only a few weeks to tackle the looming deadlock over the US debt ceiling. The president is expected to meet with Republican and Democratic leaders for tax talks.

Along with the above fundamentals, unscheduled Brexit commentaries, happenings in the Middle East and Korean peninsula are likely to keep influencing the market.

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