What are the main events for today?

It’s going to be another empty European session on the data front. We will get two notable releases in the US session though, but they shouldn’t be market moving unless we see big deviations from the expected numbers. The first one will be the US Housing Starts and Building Permits, and then we conclude with the University of Michigan Consumer Sentiment.

We have a strong risk-on sentiment in the markets following the US Jobless Claims and Retail Sales figures yesterday, so it’s unlikely that the data today will be able to turn the sentiment around. The market is now looking forward to a dovish Powell next week at the Jackson Hole Symposium.

12:30 GMT/08:30 ET – US July Housing Starts and Building Permits

• Housing Starts 1.330M expected vs. 1.353M prior.
• Building Permits 1.429M expected vs. 1.454M prior.

14:00 GMT/10:00 ET – US August UMich Consumer Sentiment

• Consumer Sentiment 66.9 expected vs. 66.4 prior.

Central bank speakers:

• 17:25 GMT/13:25 ET – Fed’s Goolsbee (neutral – non voter)

This article was written by Giuseppe Dellamotta at www.forexlive.com.