The week of August 12, 2024, is set to be crucial for global markets with key events in the US, UK, and New Zealand. The US will release CPI inflation data, which could influence Federal Reserve rate cuts. The Reserve Bank of New Zealand (RBNZ) may cut rates, with markets pricing an 80% chance. The UK will focus on CPI inflation and wage data, which could affect future rate decisions by the Bank of England. Other important events include retail sales and industrial production data from the US and GDP and employment data from the UK.

Monday, August 12:

• Asia: Japanese bank holiday; focus on China’s New Loans data.
• Australia: Wage Price Index data.
• UK: Employment data.
• US: Producer Price Index (PPI) inflation data.

Tuesday, August 13:

• Asia: Reserve Bank of New Zealand (RBNZ) rate decision and statement; New Zealand Governor’s interviews.
• UK: CPI inflation data.
• US: Retail Sales and weekly unemployment claims.

Wednesday, August 14:

• US: CPI inflation data (12:30 pm GMT).
• UK: Preliminary GDP for Q2 data.
• Australia: Employment numbers.
• China: Industrial Production and Retail Sales data.

Thursday, August 15:

• US: Industrial Production data; University of Michigan Consumer Sentiment survey; Philly Fed and Empire State Manufacturing Index updates.
• UK: Retail Sales data.

Friday, August 16:

• Australia/New Zealand: RBA Governor Michele Bullock and RBNZ Governor Adrian Orr speak.
• UK: Retail Sales data.
• US: Building Permits data; Preliminary University of Michigan Sentiment and Inflation Expectations data.