The new trading week is shaping up to be both eventful and dynamic, bringing traders a wave of important economic releases from across the globe. Market attention will center on key inflation and GDP reports from the US, Germany, and Canada, as well as retail sales data, which will help gauge the current strength of consumer activity. In addition, central bank decisions and speeches from New Zealand and the Eurozone may offer fresh clarity on the direction of future monetary policy, potentially generating notable market volatility.
United States:
● 2:15 p.m. GMT: Industrial Production (Month-over-Month) (October). Previous: 0.1%. Critical for the USD! This release will shed light on the performance of the US industrial sector, offering valuable insight into the overall resilience of the economy following recent developments.
Eurozone:
● 2:50 p.m. GMT: Speech by ECB President Lagarde. Critical for the EUR! Remarks from the head of the European Central Bank always draw market attention. Her comments on inflation, economic growth, and future policy direction can significantly influence the euro’s trajectory.
Germany:
● 7:00 p.m. GMT: German GDP (Quarter-over-Quarter) (Q3). Previous: 0.0%; Forecast: 0.0%. Critical for the EUR! GDP data from the eurozone’s largest economy will indicate whether growth remains stagnant or shows signs of improvement. Any deviation from zero could trigger a noticeable market reaction.
United States:
● 1:30 p.m. GMT: Core Retail Sales (Month-over-Month) (September). Previous: 0.7%. Critical for the USD! A key measure of consumer activity, excluding the most volatile categories, offers a clearer view of underlying demand trends.
● 1:30 p.m. GMT: Producer Price Index (PPI) (Month-over-Month) (September). Previous: 0.3%; Forecast: -0.1%. Critical for the USD! Producer inflation often signals upcoming shifts in consumer prices and can influence the Fed’s policy expectations. A stronger-than-expected print may support hawkish sentiment.
● 1:30 p.m. GMT: Retail Sales (Month-over-Month) (September). Previous: 0.4%; Forecast: 0.6%. Critical for the USD! A headline indicator of consumer spending, directly shaping economic growth outlooks. Weaker results could pressure the dollar.
● 3:00 p.m. GMT: CB Consumer Confidence Index (November). Previous: 93.4; Forecast: 94.6. Critical for the USD! A decline in consumer confidence may signal softer future spending and could negatively impact the dollar.
New Zealand:
● 1:00 p.m. GMT: Interest Rate Decision. Previous: 2.25%; Forecast: 2.50%. Critical for the NZD! The Reserve Bank of New Zealand is expected to cut its interest rate. Any deviation from this forecast, whether holding the rate unchanged or delivering a deeper cut, is likely to trigger strong volatility in the New Zealand dollar.
United Kingdom:
● 10:00 a.m. GMT: Autumn Budget Forecast. Critical for the GBP! The presentation of the new budget may introduce key changes to fiscal policy, influencing the country’s economic outlook and impacting the pound.
United States:
● 1:30 p.m. GMT: GDP (Quarter-over-Quarter) (Q3). Previous: 3.8%. Critical for the USD! A major indicator showing the pace of US economic growth in the third quarter. Any significant deviation from previous figures may provoke a sharp market reaction.
● 1:30 p.m. GMT: Initial Jobless Claims. Previous: 220K. Critical for the USD! A weekly snapshot of labor market conditions, closely monitored by the Fed as part of its policy assessment.
● 3:00 p.m. GMT: Core PCE Price Index (Month-over-Month) (September). Previous: 0.2%. Critical for the USD! A key inflation indicator that the Federal Reserve follows closely. Whether this reading meets or misses expectations will shape interest rate sentiment.
● 3:00 p.m. GMT: Core PCE Price Index (Year-over-Year) (September). Previous: 2.9%. Critical for the USD! An annualized measure of core inflation, essential for evaluating long-term price trends and monetary policy direction.
● 3:00 p.m. GMT: New Home Sales (September). Previous: 710K; Forecast: 800K. Critical for the USD! A decline in home sales may point to a cooling in the housing market and softening consumer activity.
● 3:30 p.m. GMT: Crude Oil Inventories. Forecast: -3.426M. Critical for oil prices (Brent, WTI)! This weekly report often drives short-term volatility in global energy markets.
Eurozone:
● 12:30 p.m. GMT: ECB Monetary Policy Meeting Minutes. Critical for the EUR! The detailed release from the European Central Bank’s latest meeting may reveal internal discussions and differing opinions among Governing Council members. Such insights often trigger volatility in the euro as markets reassess policy expectations.
Canada:
● 1:30 p.m. GMT: Current Account Balance (Q3). Previous: -14.4B; Forecast: -21.2B. Critical for the CAD! An improvement in the current account balance — reflected in a narrower deficit — could lend support to the Canadian dollar by signaling stronger external sector performance.
Japan:
● 11:30 p.m. GMT: Tokyo Core CPI (Year-over-Year) (November). Previous: 2.8%. Critical for the JPY! This key inflation indicator for Tokyo often serves as an early signal for nationwide price trends and is closely watched by the Bank of Japan when evaluating its monetary policy stance.
Canada:
● 1:30 p.m. GMT: GDP (Month-over-Month) (September). Forecast: 0.2%; Previous: -0.3%. Critical for the CAD! Expected GDP growth following the previous monthly decline could provide support for the Canadian dollar. Any deviation from the forecast is likely to trigger a market reaction.
● 1:30 p.m. GMT: GDP (Quarter-over-Quarter) (Q3). Forecast: -0.4%. Critical for the CAD! The quarterly GDP forecast points to a potential economic contraction, which could weigh on the Canadian dollar if confirmed.
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