Next week in FX (August 19 – 23): FOMC events plus global inflation and PMI updates

Speculation about the Fed’s September policy decision will heat up this week as the central bank releases minutes from its August meeting and several FOMC members take center stage at the annual symposium in Jackson Hole. Inflation data from Japan and Canada will also get some attention after the Bank of Canada (BOC) cut interest rates TWICE since June and the Bank of Japan (BOJ) surprisingly raised interest rates in July. Then PMI updates around the world could matter to global growth speculators and influence the overall risk sentiment in the markets. Anyway, what do the markets expect from these events?