The US Nonfarm Payrolls report will become the week's main event as it is the most important data for the Fed's monetary policy decision. Economists predict that non-sector employment will decline, making it more likely that the Fed should slow the rate hikes. Conversely, job growth indicates labor market strength, and the Fed could make another aggressive rate hike. The data on inflation in the Eurozone should also be on the trader's list since the ECB meeting is two weeks away. Also, investors should take advantage of the Manufacturing PMI data in various countries. There will also be many speeches this week by central bank officials that are worth watching closely.
Monday, November 28
Usually, Monday is an ordinary trading day with low volatility, but this week may start very actively after the holidays in the United States. Monday's main events will be speeches by Central Bank officials.
Main events of the day:
- – Australia RBA Gov Lowe Speaks at 01:00 (GMT+3);
- – Australia Retail Sales (m/m) at 02:30 (GMT+3);
- – Eurozone ECB President Lagarde Speaks at 16:00 (GMT+3);
- – US FOMC Member Bullard Speaks at 19:00 (GMT+3);
- – US FOMC Member Williams Speaks at 19:00 (GMT+3).
Tuesday, November 29
The main event on Tuesday will be German inflation data. Germany is the leading economy in the Eurozone so this data will be taken into account by the ECB for monetary policy adjustments. Analysts expect to see a decrease in inflationary pressures. Investors should also focus on the GDP data in Canada and Switzerland.
Main events of the day:
- – Japan Unemployment Rate (m/m) at 01:30 (GMT+3);
- – Japan Retail Sales (m/m) at 01:50 (GMT+3);
- – Switzerland GDP (m/m) at 10:00 (GMT+3);
- – Spanish Consumer Price Index (m/m) at 10:00 (GMT+3);
- – German Consumer Price Index (m/m) at 15:00 (GMT+3);
- – Canada GDP (q/q) at 15:30 (GMT+3);
- – UK BOE Gov Bailey Speaks at 17:00 (GMT+3);
- – US CB Consumer Confidence (m/m) at 17:00 (GMT+3).
- – Japan Industrial production (m/m) at 01:50 (GMT+3);
- – New Zealand ANZ Business Confidence (m/m) at 02:00 (GMT+3);
- – China Manufacturing PMI (m/m) at 03:30 (GMT+3);
- – China Non-Manufacturing PMI (m/m) at 03:30 (GMT+3);
- – French Consumer Price Index (m/m) at 09:45 (GMT+3);
- – German Unemployment Rate (m/m) at 10:55 (GMT+3);
- – Italian Consumer Price Index (m/m) at 12:00 (GMT+3);
- – Eurozone Consumer Price Index (m/m) at 12:00 (GMT+3);
- – US ADP Non-Farm Employment Change (m/m) at 15:15 (GMT+3);
- – US GDP (q/q) at 15:30 (GMT+3);
- – US Chicago PMI (m/m) at 16:45 (GMT+3);
- – US JOLTs Job Openings (m/m) at 17:00 (GMT+3);
- – US Pending Home Sales (m/m) at 17:00 (GMT+3);
- – US Crude Oil Reserves (w/w) at 17:30 (GMT+3);
- – US Fed Chair Powell Speaks at 20:30 (GMT+3).
- – Japan Manufacturing PMI (m/m) at 02:30 (GMT+3);
- – China Caixin Manufacturing PMI (m/m) at 04:45 (GMT+3);
- – German Retail Sales (m/m) at 09:00 (GMT+3);
- – Switzerland Retail Sales (m/m) at 09:30 (GMT+3);
- – Switzerland Consumer Price Index (m/m) at 09:30 (GMT+3);
- – Spanish Manufacturing PMI (m/m) at 10:15 (GMT+3);
- – Italian Manufacturing PMI (m/m) at 10:45 (GMT+3);
- – French Manufacturing PMI (m/m) at 10:50 (GMT+3);
- – German Manufacturing PMI (m/m) at 10:55 (GMT+3);
- – Eurozone Manufacturing PMI (m/m) at 11:00 (GMT+3);
- – UK Manufacturing PMI (m/m) at 11:30 (GMT+3);
- – OPEC Meeting at 12:30 (GMT+3);
- – Eurozone Unemployment Rate (m/m) at 12:00 (GMT+3);
- – US PCE Price index (m/m) at 15:30 (GMT+3);
- – US Initial Jobless Claims (w/w) at 15:30 (GMT+3);
- – Canada Manufacturing PMI (m/m) at 16:30 (GMT+3);
- – US FOMC Member Bowman Speaks at 16:30 (GMT+3);
- – US ISM Manufacturing PMI (m/m) at 17:00 (GMT+3);
- – US Natural Gas Storage (w/w) at 17:30 (GMT+3).
- – Australia RBA Gov Lowe Speaks at 04:40 (GMT+3);
- – Eurozone ECB President Lagarde Speaks at 04:40 (GMT+3);
- – New Zealand RBNZ Gov Orr Speaks at 06:30 (GMT+3);
- – Switzerland Unemployment Rate (m/m) at 09:30 (GMT+3);
- – Eurozone Producer Price Index (m/m) at 12:00 (GMT+3);
- – US Nonfarm Payrolls (m/m) at 15:30 (GMT+3);
- – US Unemployment Rate (m/m) at 15:30 (GMT+3);
- – Canada Unemployment Rate (m/m) at 15:30 (GMT+3).
Wednesday, November 30
On Wednesday, investors' attention will be riveted to data on consumer prices in the EU countries. Analysts expect inflation in the Eurozone to remain the same. Traders should also pay attention to the US GDP data for the quarter, where slight growth is projected.
Main events of the day:
Thursday, December 01
Thursday will bring various statistics on the Manufacturing PMI data for many countries. It is an important economic indicator that shows the state of the sector. As a rule, If the indicator is below 50, it indicates weakness. Investors will also focus on the weekly US Initial Jobless Claims data, which is an important indicator of the US labor market behavior. Traders should also pay attention to the PCE Price index, which for the Fed is a more important indicator of inflation than the Consumer Price Index.
Main events of the day:
Friday, December 02
Nonfarm Payrolls data will become the most important Friday release for investors so that the volatility can be increased. This indicator is also taken into account by the Fed to adjust monetary policy. Traders should also keep a close eye on the speeches of the heads of the Central Banks of Australia, New Zealand, and the Eurozone.
Main events of the day:
by , 2022.11.28
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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