MNI Global Week Ahead August 17 - 21

Key Things to Watch For:

• Wednesday, August 19 – UK CPI
  • UK July inflation data due Wednesday will be the next focus for the markets, with data across the board expected to show prices remain under pressure and well below the Bank of England's 2% price target for headline inflation.
  • Analysts expect headline CPI to be flat on the month, rising 0.6% yoy -- in line with the June reading. The closely watched core CPI measure is expected to be unchanged mom, rising 1.3% yoy, just shy of the 1.4% rise in June.
  • Producer inflation will also be eyed, with input prices seen down 6.1% yoy, narrowing slightly from the 6.4% decline recorded in June.
    
    
    
• Thursday, August 20 – U.S. Weekly Jobless Claims
  • Initial jobless claims filed through August 15 should fall to 925,000 Thursday after claims filed through August 8 dropped by more than 200,000 to 963,000, the first reading below 1 million since March.
  • Analysts say layoffs are likely abating, but seasonal factors and the expiration of additional unemployment benefits likely inflated last week's improvement.
    
    
    
• Friday, August 21 - IHS Markit Flash U.S. PMIs
• U.S. manufacturing activity likely pulled back in August, with markets expecting the IHS Markit flash U.S. Manufacturing PMI to fall to 50.9 from 51.5 in July.
• Service-sector activity should similarly slow, with analysts predicting August's IHS Markit flash U.S. Services PMI to fall to 50.0 from 50.8 in July.