This week’s economic calendar from 13 November to 17 November is packed with economic data and publications which is mainly on inflation indicators, manufacturing, trade and budget balances from across the globe as follows.
On Monday (13 Nov), OPEC will publish its monthly report which details global past oil demands and future projections. As for economic data, there will be a publication of India’s October CPI, Australia’s NAB October business confidence and the US Federal budget balance, which details US Government spending as a GDP’s component and implications on US fiscal policy.
Furthermore, the European Union will publish its economic forecasts, and China will announce its loans data as the November New Loans are expected to be reduced from 2,310 billion yuan to almost one third of 665 billion yuan. Also, the last week CFTC speculative net position of US Futures has been rescheduled to published on this Monday instead.
On Tuesday (14 Nov), All eyes will be kept on the US October CPI as it’s a key indicator on the economy and affects future policy makers’ decisions. The US September CPI previously reported at 3.7% YoY and 0.4% MoM, while the September Core CPI reported at 4.1% YoY and 0.3% MoM.
Meanwhile, Japan’s Q3 GDP and the third revision of the EU’s Q3 GDP will be released on the same day as well. Moreover, China’s October industrial production, UK’s September unemployment data and India’s WPI Inflation will be worth the attention as well.
On Wednesday (15 Nov), there will be a publication of UK CPI which is expected at 4.8% YoY, the lower from the previous 6.7%. The EU will publish its Trade Balance and also the September Industrial Production which is expected at -6.3% YoY, wider than the previous 5.1%.
Moreover, Japan will announce its October Trade balance which is expected to be a deficit of 735.7 billion yen. The US will publish its leading inflation indicator, the October Producer Price Index (PPI) and the Retail Sales that used to gauge consumer spending excluding automobiles. Lastly, Australia will publish Unemployment data which is expected to slightly increase from 3.6% to 3.7%.
On Thursday (16 Nov), the US will publish its October Industrial Production. Also, there’s another indicator publication that used to gauge the US industrial sector as well, which is the Philadelphia Fed November Manufacturing Index that is expected at the -11.0, a more negative value compared to October number of -9.0. This indicates the worsening conditions for the manufacturers in the US state of Philadelphia.
Meanwhile, several US FOMC members and Fed Governors are scheduled to give their statements, led by Fed Vice Chair Michael S. Bar. The ECB policy makers also do the same as well, led by its President Christine Largarde.
On Friday (17 Nov), there will be several publications of UK October Retail Sales that are expected at 1.5% YoY, EU October CPI that is expected at 2.9% YoY and US Housing data, that the October Building Permits is expected at almost no change at 1.45 million from 1.47.
Lastly, the US weekly mandatory numbers which are scheduled as follows.
On Monday, the US weekly 3- and 6-month treasury bill auctions.
The short-term yields would give insight on how much the bond markets or the big money saver are willing to lend the money to others. The higher short-term rates mean more worries for the long-term lending economy and vice-versa.
On Wednesday, the US EIA oil and gas productions and inventories.
These publications would have a material impact on the energy commodities markets, as they indicated the past week’s demand and energy consumption of the US economy.
On Thursday, US initial jobless claims along with Fed balance sheet and 4- and 8-week treasury bill auctions.
The jobless claims indicated the official unemployment rate in the US, which is recently used to gauge whether the FED will further hike rate or not, as the low claims and hot jobs numbers means the economy could handle a higher interest rate. Meanwhile, the balance sheet indicates how tight or loose the Fed open market activity is.
