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Financial markets are in a state of flux around the world, and as we approach the end of August, there are several important events on the agenda that could have major consequences. From central bank meetings to economic indicators and geopolitical summits, here's what investors and market watchers need to know.
Every year, the picturesque town of Jackson Hole, Wyoming, becomes the epicenter of global financial discussions. This year, from August 24 to 26, officials from the U.S. Federal Reserve, along with their counterparts from the ECB, BoE and BOJ, will meet to discuss the future of monetary policy. While last year was overshadowed by uncertainties about interest rate hikes, this year's storyline focuses on balancing stable economic growth with inflationary pressures.
China's real estate market, a key pillar of the economy, is showing signs of tension. Despite emergency rate cuts, investor sentiment remains shaky. With major players like Country Garden on the verge of defaulting and China Evergrande filing for bankruptcy protection in the U.S., the world is watching closely as China navigates its real estate challenges.
On Wednesday, the global market will eagerly await the release of the flash August business activity PMI indicator in America. This indicator, a reliable gauge of economic health, has shown mixed signals in recent months.
The BRICS countries, representing some of the world's most dynamic economies, will meet in Johannesburg from August 22 to August 24. One of the items on the agenda is how the BRICS can expand to include several countries that have expressed interest in joining this influential bloc. Another item on the agenda is to improve internal dynamics and reduce the influence of the West, including the power of the dollar.
Turkey's central bank is at a crossroads. With consumer prices hitting historic highs, the bank's interest rate decision will be scrutinized. As Turkey grapples with double-digit inflation, the world will be watching as it manages its monetary policy.
As August draws to a close, the global market faces a series of significant events. From central bank decisions to the formation of a new geopolitical bloc. Together, this can increase volatility in the market. A situation in which gold can flourish again because it benefits from both geopolitical and monetary turmoil. The week ahead promises to be promising.
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On behalf of Holland Gold, Paul Buitink and Joris Beemsterboer interview various economists and experts in the field of macroeconomics. The aim of the podcast is to provide the viewer with a better picture and guidance in an increasingly rapidly changing macroeconomic and monetary landscape. Click here to subscribe.
Author: Dhara Ranasinghe
Source: Reuters
