Daily Economic Calendar – All Eyes on the ECB

We begin the economic agenda for the day with the Q3 GDP from Japan which is expected to come in at 0.6% QoQ. Then comes in the Australian Trade balance which will be keenly watched as the latest round of data from Australia have been very weak, the prime example being the GDP which came in at a negative number this week, something which has not happened for the past 5 years. This clearly shows that the Australian economy is under severe pressure.

Then the big news of the morning would be the Chinese trade balance, which assumes further significance with Trump as the New US President and his known stand against imports from China, which he repeated again last Sunday. Then we have the major news of the day, the ECB rate decision followed by the press conference. The rates are expected to be on hold but it is in the press conference that all the attention will be focussed on to see whether Draghi would be extending the QE program and if he does, we can expect the European indices to skyrocket.

Then, during the NY session, we have some Canadian numbers like the Housing Starts, Building Permits and Pricing Index. Then we have the initial jobless cliams data from the US which is expected to come in at 258,000.