This week’s economic calendar from 27 November to 1 December is packed with inflation indicators and Purchasing Managers’ Index (PMI) from the major economies.
On Monday (27 Nov), the US will announce its housing data as the US building permit, expected to increase by 1.1% from the previous month of negative 4.5%, while the US October new home sales expected to decrease to 721k from 759k units.
On Tuesday (28 Nov), the Bank of Japan (BoJ) will announce its inflation indicator, the Core CPI which is expected at an unchanged 3.4% YoY. The US November consumer confidence is expected to decrease to 101 from 102.6, which is the lowest since July 2022.
Furthermore, the Reserve Bank of New Zealand (RBNZ) is expected to maintain the country’s interest rate at 5.50%, the highest level since December 2008.
On Wednesday (29 Nov), the Germany November CPI is expected to decrease to 3.5% from 3.8% YoY. The second revision of US Q3 GDP is expected to increase from 2.1% to 4.9% QoQ.
In addition, the China Authority is expected to publish the November composite PMI, which the previous month was published at 50.7.
On Thursday (30 Nov), the EU November CPI is expected to slide from 2.9% to 2.8% YoY, the lowest since October 2021. The EU October unemployment rate is expected to stand at 6.5%. Furthermore, the US PCE price index is expected to decrease from 3.4% to 3.1% YoY.
On Friday (1 Dec), the EU Manufacturing PMI is expected to be unchanged at 43.8. The US ISM November Manufacturing PMI is expected to increase from 46.7 to 47.6. Additionally, the US Fed Chair Jerome Powell scheduled his statement on Friday as well.
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 than the long-term lending economy and vice-versa.
The CFTC speculative net positions from last week will be published on Monday due to the delay from the Thanksgiving holiday.
On Wednesday, the US Energy Information Administration’s (EIA) crude oil and gas productions and inventories.
These publications would impact the energy commodities markets by a lot, 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.
On Friday, the CFTC speculative net positions of derivatives trading, including currencies, commodities and indices futures, which would be published on the same day as well. These net positions would roughly give a premonition of the direction of these underlying assets.
