Week Ahead for FX, Bonds: Warsh Speech at Jackson Hole, U.S. PCE Data in Focus

Investors are heading into the week starting Aug. 24 with a tight focus on Federal Reserve communication and U.S. inflation data. At the Jackson Hole symposium—running Aug. 27 to Aug. 29—Fed Chair Kevin Warsh is expected to outline clues on when U.S. interest rates could rise. Markets already price nearly a 25-basis-point hike by December. Wednesday brings July PCE inflation, the Fed’s preferred gauge, alongside the second estimate of second-quarter GDP and July durable goods. Bond auctions total $183 billion: $69b in two-year notes, $70b in five-year notes and $44b in seven-year notes. Canadian GDP data is due Friday.