The Weekly View 19th August, 2024

Welcome to the Unio Weekly View for the week beginning 19th August, our summary of markets and macro news.

Watch this week's investment brief in full:

This week:

- After a positive inflation print in the US last week, attention will now turn to the release of the Federal open Market Committee (FOMC) Minutes for July, on the 21st and the upcoming Jackson Hole Symposium, starting on the 22nd.

- Commentary coming from both will likely impact the market’s views on where US interest rates will go in the short term. With inflation now below 3.0% in the US, confidence is growing that a rate cut will come in September.

- EU core inflation data for July will be published on the 20th. As the ECB is now in its rate cutting cycle, policy officials will be keen to see growth in the economy but not at the expense of higher inflation.

-On the earnings side, most of the recognisable names have posted their quarterly results. It’s worth keeping an eye out for Intuit’s earnings on the 22nd. The American software company announced last month that it would be cutting up to 10% of its global workforce due to the company’s recent investment in AI.

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