Wednesday's Federal Reserve meeting minutes will be the main event of the week ahead, and investors will be closely watching for any signs that the pace of rate hikes could slow down. New Zealand is expecting another interest rate hike by the RBNZ. Also, Wednesday's PMI data will provide important information on the state of the global economy. And Friday will be the start of the most important shopping period of the year, which will be a key test for US retailers.
Monday, November 21
The Producer Price Index in Germany, which shows the inflation rate between factories, will be the only event on Monday that investors should pay attention to.
– German Producer Price Index (m/m) at 09:00 (GMT+3).
Tuesday, November 22
On Tuesday, the OECD will release its latest forecasts for the global economy. Traders should also pay attention to the speeches of Australia RBA Governor Lowe and also some FOMC officials. And in Canada, retail sales data will be released.
Main events of the day:
- – Australia RBA Governor Lowe Speaks at 09:00 (GMT+3);
- – Canada Retail Sales (m/m) at 15:30 (GMT+3);
- – FOMC Member Mester Speaks (m/m) at 18:00 (GMT+3);
- – FOMC Member George Speaks (m/m) at 21:15 (GMT+3);
- – FOMC Member Bullard Speaks (m/m) at 21:45 (GMT+3).
Wednesday, November 16
There will be a lot of economic events on Wednesday. The Fed will release the minutes of its November meeting, and investors are looking forward to any indication that policymakers might consider slowing the tightening process. The Reserve Bank of New Zealand is likely to raise the interest rate by 0.75%, and volatility in currency pairs with the New Zealand dollar will increase. Wednesday's PMI data from the Eurozone, the UK, Australia, and the US will give a glimpse of the state of the global economy. Most countries have PMIs below the 50 mark, indicating a recession is coming. It's a bank holiday in Japan.
Main events of the day:
- – Australia Manufacturing PMI (m/m) at 00:00 (GMT+3);
- – Australia Services PMI (m/m) at 00:00 (GMT+3);
- – New Zealand RBNZ Interest Rate Decision at 03:00 (GMT+3);
- – New Zealand RBNZ Monetary Policy Statement at 03:00 (GMT+3);
- – New Zealand RBNZ Press Conference at 04:00 (GMT+3);
- – Singapore Consumer Price Index (m/m) at 07:00 (GMT+3);
- – Eurozone France Manufacturing PMI (m/m) at 10:15 (GMT+3);
- – Eurozone France Services PMI (m/m) at 10:15 (GMT+3);
- – Eurozone German Manufacturing PMI (m/m) at 10:30 (GMT+3);
- – Eurozone German Services PMI (m/m) at 10:30 (GMT+3);
- – Eurozone Manufacturing PMI (m/m) at 11:00 (GMT+3);
- – Eurozone Services PMI (m/m) at 11:00 (GMT+3);
- – UK Manufacturing PMI (m/m) at 11:30 (GMT+3);
- – UK Services PMI (m/m) at 11:30 (GMT+3);
- – US Durable Goods Orders (m/m) at 15:30 (GMT+3);
- – US Initial Jobless Claims (w/w) at 15:30 (GMT+3);
- – US Manufacturing PMI (m/m) at 16:45 (GMT+3);
- – US Services PMI (m/m) at 16:45 (GMT+3);
- – US New Home Sales (m/m) at 17:00 (GMT+3);
- – US Michigan Consumer Sentiment (m/m) at 17:0 (GMT+3);
- – US Crude Oil Reserves (w/w) at 17:30 (GMT+3);
- – US Natural Gas Storage (w/w) at 19:00 (GMT+3);
- – US FOMC Meeting Minutes at 21:00 (GMT+3).
Thursday, November 24
On Thursday, the European Central Bank will publish its monetary policy protocol. Also, New Zealand will release its retail sales report, and Germany's Ifo Institute will publish its latest forecast for the German economy.
Main events of the day:
- – Japan Manufacturing PMI (m/m) at 02:30 (GMT+3);
- – Japan Services PMI (m/m) at 02:30 (GMT+3);
- – German Ifo Business Climate (m/m) at 11:00 (GMT+3);
- – ECB Account of Monetary Policy Meeting at 14:30 (GMT+3);
- – New Zealand Retail Sales at 23:45 (GMT+3).
Friday, November 25
Against the backdrop of skyrocketing inflation and interest rates, the key test for consumer demand will be November 25, when retailers will launch Black Friday sales. Retailers reported mixed results in the latest reporting season, so sales figures will undoubtedly reflect on stock indices. On Friday, traders should also pay attention to Germany's Q3 GDP data.
Main events of the day:
- – Japan Tokyo Core CPI (m/m) atv01:30 (GMT+3);
- – German GDP (q/q) at 09:00 (GMT+3).
by , 2022.11.21
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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