UPDATE 1-What to Watch in The Day Ahead; Friday, Aug. 22

Thu Aug 21, 2014 3:32pm EDT

(Updates with Canadian inflation and retail sales data) (The Day Ahead is an email and PDF publication that includes the day's major stories and events, analyses and other features. To receive The Day Ahead, Eikon users can register at. Thomson One users can register at RT/DAY/US. All times in ET/GMT) Fed Chair Janet Yellen delivers opening remarks on labor markets as the Jackson Hole conference of central bankers hosted by the Kansas City Federal Reserve enters its second day. In the afternoon, European Central Bank President Mario Draghi will deliver a lunch address on labor market dynamics. Separately, Reuters is expected to interview Philadelphia Federal Reserve Bank President Charles Plosser and St. Louis Federal Reserve Bank President James Bullard on the sidelines of the Kansas City Fed's annual central banking symposium. Global retailer of shoes and apparel, Foot Locker is expected to report earnings for the second quarter. Separately Hibbett Sports, a company which operates sporting goods stores in small and mid-sized markets predominantly in the South, Southwest, Mid-Atlantic and the Midwest is scheduled to report its second-quarter results. Canada's annual inflation rate is expected to edge down to 2.2 percent after hitting a 28-month high of 2.4 percent in June. Despite the decline, that will still leave inflation above the Bank of Canada's 2 percent target. The core annualized rate, which strips out volatile items and is closely watched by the central bank, is forecast to hold steady at 1.9 percent. The Bank of Canada, which has repeatedly flagged its concerns about the risks of low inflation, has said that the recent surge in inflation Canada has seen is temporary. (0830/1230) Canadian retail data is expected to show sales rose 0.3 percent in June, softer than the 0.7 percent gain seen a month earlier. Excluding autos, sales are expected to rise just 0.5 percent. (0830/1230) Brazil's central bank is scheduled to release its report on the balance of payments for July. (0930/1330) Mexican inflation data for early August will show if the annual pace of consumer price gains has risen further above the central bank's 4 percent ceiling. Also expected to be released is Mexican unemployment figures. (0900/1300) Separately, Peru's central bank is scheduled to release its current account balance in the second quarter of 2014. In the first quarter the current account deficit expanded to 6.6 percent of gross domestic product, from the 5.5 percent deficit registered in the first three months of 2013. (1600/2000) The central bank is also expected to release the fiscal balance logged in the second quarter. (1800/2200) (Compiled By Nandi Kaul in Bangalore; Editing by Maju Samuel)

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