As traders approach another pivotal day for financial markets on Friday, August 23, 2024, a series of crucial economic data releases and a key speech from Federal Reserve Chairman Jerome Powell are expected to influence market dynamics. The housing market will be in the spotlight with building permits and new home sales data, while Powell’s remarks at the Jackson Hole Symposium could offer insight into the future direction of monetary policy.

Important economic events to watch

• 08:30 AM ET – Building Permits (July): Measures change to new building permits issued. Forecast: 1.396M, Previous: 1.454M

• 10:00 AM ET – New Home Sales (July): Annual number of new single-family homes sold. Forecast: 624K, Previous: 617K

• 10:00 AM ET – Fed Chair Powell speaks: Jackson Hole Symposium remarks, possible hints about future monetary policy

Other important economic events to watch

• 7:00 am ET – Jackson Hole Symposium: Global economic forum for central bankers and finance ministers

• 8:30 AM ET – Building Permits (MoM) (July): Percentage change in building permits. Previous: 3.9%

• 10:00 AM ET – New Home Sales (MoM) (July): Percentage change in new home sales. Previous: -0.6%

• 1:00 PM ET – Baker Hughes US Rig Count: Indicator of oil drilling industry activity. Previous: 483

• 1:00 p.m. ET – US Baker Hughes Total Rig Count: Total number of active drilling rigs. Previous: 586

• 3:30pm ET – CFTC Speculative Positions: Market Sentiment Indicator. Previous: -23.5K

• 3:30pm ET – CFTC Speculative Positions: Speculative positions in Nasdaq futures. Previous: 8.5K

• 3:30pm ET – CFTC Gold Speculative Positions: Gold Market Sentiment Indicator Previous: 267.3K

• 3:30pm ET – CFTC Speculative Positions: Speculative positions in oil futures. Previous: 231.5K

Other economic events to watch

• 3:30pm ET – CFTC Aluminum Speculative Net Positions: Speculative positions in aluminum futures. Previous: 2.2K

• 3:30 PM ET – CFTC Copper Speculative Positions: Speculative positions in . Previous: 15.8K

• 3:30 PM ET – CFTC Silver Speculative Positions: Speculative Positions in . Previous: 45.3K

• 3:30 PM ET – CFTC Natural Gas Speculative Positions: Speculative Positions in . Previous: -80.8K

• 3:30pm ET – CFTC Wheat Speculative Positions: Speculative positions in wheat futures. Previous: -38.9K

• 3:30pm ET – CFTC Corn Speculative Positions: Speculative positions in corn futures. Previous: -154.0K

• 3:30pm ET – CFTC Soybean Speculative Positions: Speculative positions in soybean futures. Previous: -165.7K

For more information and the latest updates, please refer to our economic calendar here https://www.investing.com/economic-calendar/

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