The Week Ahead – Economic Data and Central Bank Chatter to Keep the Markets Busy

On the Macro

It’s a busy week ahead on the economic calendar, with 58 stats in focus in the week ending 19^th November. In the week prior, 39 stats had been in focus.

For the Dollar:

Early in the week, retail sales and industrial production figures will be in focus.

With inflationary pressure pushing consumer prices northwards, weak retail sales figures could further pressure the FED into a move on interest rates.

On Thursday, the Philly FED Manufacturing PMI and jobless claims wrap things up.

Housing sector data due out over the week should have a muted impact on the Dollar and the broader market.

On the monetary policy front, expect FOMC member chatter to also influence.

In the week ending 12^th November, the U.S Dollar Index rose by 0.86% to 95.128.

For the EUR:

Early in the week, Eurozone trade data and 2^nd estimate GDP numbers for the 3^rd quarter will be in focus.

On Wednesday, finalized Eurozone inflation figures for October will also provide direction.

From the ECB, expect any member chatter in the week to also influence. ECB President Lagarde is scheduled to speak several times in the week,

For the week, the EUR slid by 1.05% to $1.1445.

For the Pound:

It’s a busy week ahead on the economic calendar.

On Tuesday, claimant counts and the unemployment rate will be key ahead of inflation figures on Wednesday.

Following the BoE’s decision to stand pat on policy, another pickup in consumer prices could push the BoE into action.

At the end of the week, retail sales figures will also be key amidst rising consumer prices.

The Pound ended the week down by 0.62% to $1.3414.

For the Loonie:

It’s also a busy week ahead on the economic calendar.

Early in the week, manufacturing and wholesale sales figures will draw interest.

On Wednesday and Friday, inflation and retail sales will be the key stats of the week, however.

Away from the economic calendar, crude oil prices and inventories will also influence. On Tuesday, the IEA’s monthly report will also garner interest.

The Loonie ended the week down 0.75% to C$1.2550 against the U.S Dollar.

Out of Asia

For the Aussie Dollar:

It’s a particularly quiet week ahead, with stats limited to 3^rd quarter wage growth.

As a key area of focus for the RBA, expect plenty of Aussie Dollar sensitivity to the numbers.

On the monetary policy front, the RBA meeting minutes and scheduled RBA Gov. Lowe speech on Tuesday will also influence.

The Aussie Dollar ended the week down by 0.92% to $0.7332.

For the Kiwi Dollar:

It’s another quiet week ahead.

Wholesale inflation for the 3^rd quarter will draw interest on Thursday.

From elsewhere, expect economic data from China to also influence.

The Kiwi Dollar ended the week down by 1.03% to $0.7044.

For the Japanese Yen:

3^rd quarter GDP numbers will be in focus ahead of trade data on Wednesday.

Inflation figures for October wrap things up on Friday.

The Japanese Yen fell by 0.42% to ¥113.890 against the U.S Dollar.

Out of China

It’s another relatively busy week ahead on the economic calendar.

At the start of the week, fixed asset investment and industrial production figures will set the tone.

Another round of softer numbers would test support for riskier assets on Monday.

Unemployment figures, also due out on Monday, will also draw interest.

The Chinese Yuan ended the week up by 0.30% to CNY6.3797 against the U.S Dollar.

Geo-Politics

Nothing new to consider in the week ahead, with China and Capitol Hill continuing to be the key areas of focus.