Dukascopy Economic Calendar 21082009 Louise McCauley

Hello. _________________ is in the Dukascopy TV Center with the economic calendar for Friday, August 21st. Lets see what events could stir the markets before they close for the weekend.
A series of Flash PMI data for August, both in manufacturing and services, starts at 7 with French report. German stats follow at 7:30, and pan Eurozone PMI is out another half hour after that. The blocs indexes posted growth during the previous three months, prompting expectations another rise this time around. Analysts are starting to talk about increases in the quarterly figure emerging earlier than predicted by ECB. The biggest obstacles lay in the weak credit conditions and shaky labor market.
The focus will shift across the Atlantic for a few afternoon events, starting with US existing home sales at 2 PM. If the forecasts prove to be correct, July will bring a 4th month on month growth in a row and the first yearly increase since November 2005. Pending home sales, which hint at possible developments in existing home sales, have been growing for 5 months now, with an average monthly gain of 3.3%.
Kansas City Feds economic symposium will feature a couple of prominent speakers, with Ben Bernanke scheduled to appear at 2 PM and Director of Feds Monetary Affairs Division Madigan expected to participate in panel at quarter to 5. Mr. Bernanke has arguably devoted more attention to public relations than any previous chairman, working hard to communicate Feds active involvement in the current processes.
This concludes Fridays economic calendar. Mondays report will begin our coverage of next weeks potential flashpoints. Goodbye.

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