This week, the main focus of investors will be on inflation data in the leading countries - Eurozone, the United Kingdom, Canada, and Japan. The Consumer Price level in Eurozone and Great Britain, which is at its high, is the most important. The UK government will finally announce its new budget plan on Thursday, and investors will be watching closely for market reactions. Also in the focus of traders will be data on China after Beijing loosened some of its strict pandemic restrictions on Friday, raising hopes for a surge in economic activity. In addition, this week will be the G20 meeting.
Monday, November 14
Monday will be a fairly quiet day. The Eurozone will update the industrial production data, where no significant changes are expected. The head of the Swiss National Bank (SNB) will give a speech where traders can see some hints regarding the further monetary policy of the bank.
Main events of the day:
- – Eurozone Industrial Production (m/m) at 12:00 (GMT+2);
- – Switzerland SNB Chairman Thomas Jordan speaks at 18:30 (GMT+2);
- – US FOMC Member Brainard Speaks at 18:30 (GMT+2).
Tuesday, November 15
A lot of economic data is expected on Tuesday. China will release October retail sales, industrial production, and employment data, and economists expect the figures to reflect the continuing impact of the government's anti-COVID-19 policies. Also, several European countries will publish inflation data, and Australia will publish last month's monetary policy report. In addition, the UK will release labor market data, and Japan will show third-quarter GDP data.
Main events of the day:
- – Japan GDP (q/q) at 01:50 (GMT+2);
- – Australia RBA Monetary Policy Meeting Minutes at 02:30 (GMT+2);
- – China Industrial Production (m/m) at 04:00 (GMT+2);
- – China Retail Sales (m/m) at 04:00 (GMT+2);
- – China Unemployment Rate (m/m) at 04:00 (GMT+2);
- – Japan Industrial Production (m/m) at 06:30 (GMT+2);
- – UK Average Earnings Index (m/m) at 09:00 (GMT+2);
- – UK Claimant Count Change (m/m) at 09:00 (GMT+2);
- – UK Unemployment Rate (m/m) at 09:00 (GMT+2);
- – Eurozone French Consumer Price Index (m/m) at 09:45 (GMT+2);
- – Eurozone Spanish Consumer Price Index (m/m) at 10:00 (GMT+2);
- – Eurozone German ZEW Economic Sentiment (m/m) at 12:00 (GMT+2);
- – Eurozone ZEW Economic Sentiment (m/m) at 12:00 (GMT+2);
- – Eurozone GDP (q/q) at 12:00 (GMT+2);
- – US Empire State Manufacturing Index (m/m) at 17:30 (GMT+2);
- – US Producer Price Index (m/m) at 15:30 (GMT+2);
- – G20 Meetings (Day 1).
Wednesday, November 16
On Wednesday, the attention of investors will be directed to the inflation data in the United Kingdom and Canada. Consumer Prices in the UK are expected to hit another record, while in Canada, no change is expected. But volatility in currency pairs with the British pound and Canadian dollar will increase. The US retail sales data should indicate how consumers feel ahead of a key holiday shopping season amid historically high inflation. Investors should also be focused on the US Crude Oil Reserves, which significantly impact oil prices.
Main events of the day:
- – Australia Wage Price Index (q/q) at 02:30 (GMT+2);
- – UK Consumer Price Index (m/m) at 09:00 (GMT+2);
- – Eurozone ECB Financial Stability Review (Tentative);
- – US Retail Sales (m/m) at 15:30 (GMT+2);
- – Canada Consumer Price Index (m/m) at 15:30 (GMT+2);
- – UK Monetary Policy Report Hearings at 16:15 (GMT+2);
- – UK BoE Gov Bailey Speaks at 16:15 (GMT+2);
- – US Industrial Production (m/m) at 16:15 (GMT+2);
- – US FOMC Member Williams Speaks at 16:50 (GMT+2);
- – Eurozone ECB President Lagarde Speaks at 17:00 (GMT+2);
- – US Crude Oil Reserves (w/w) at 17:30 (GMT+2);
- – US FOMC Member Waller Speaks at 16:50 (GMT+2);
- – G20 Meetings (Day 2).
Thursday, November 17
Thursday's main event will be the inflation data in the Eurozone. Analysts expect inflation in the region to rise from 9.9% to 10.7% year-on-year, reinforcing aggressive action by the ECB. Volatility on currency pairs with the euro will rise sharply. Also, several Fed officials will give a speech at the end of the day.
Main events of the day:
- – Australia Unemployment Rate (m/m) at 02:30 (GMT+2);
- – Eurozone Consumer Price Index (m/m) at 12:00 (GMT+2);
- – US FOMC Member Bullard Speaks at 15:00 (GMT+2);
- – US Building Permits (m/m) at 15:30 (GMT+2);
- – US Initial Jobless Claims (w/w) at 15:30 (GMT+2);
- – US Philadelphia Fed Manufacturing Index (m/m) at 15:30 (GMT+2);
- – US FOMC Member Bowman Speaks at 16:15 (GMT+2);
- – US FOMC Member Mester Speaks at 16:40 (GMT+2);
- – US Natural Gas Storage (w/w) at 17:30 (GMT+2).
Friday, November 18
On Friday, Japan will update its consumer price data. Analysts expect inflation to rise from 3.0 to 3.5% year-over-year, making it more likely that the Bank of Japan will revise its soft monetary policy at its next meeting. Volatility on currency pairs with the Japanese yen will be elevated. Investors should also pay attention to the data on retail sales in the UK, as well as to the speech of ECB head Christine Lagarde.
Main events of the day:
- – Japan National Consumer Price Index (m/m) at 01:30 (GMT+2);
- – UK Retail Sales (m/m) at 09:00 (GMT+2);
- – Eurozone ECB President Lagarde Speaks at 10:30 (GMT+2);
- – US Existing Home Sales (m/m) at 17:00 (GMT+2).
by , 2022.11.14
We advise you to get acquainted with the daily forecasts for the major currency pairs.This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
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