The week ahead – Economic data brings inflation back to the fore

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On the macro

It’s a quieter week ahead on the economic calendar, with 43 stats at the center of the week ending 12e November. During the previous week, 57 statistics had been finalized.

For the dollar:

At the start of the week, inflation figures will be in the spotlight.

Expect a lot of interest, with any further spikes that may call the Fed’s transitional view into question.

Jobless claims will also be key on Thursday ahead of JOLT’s job postings and consumer confidence figures on Friday.

Following the forward guidance from the FED last Wednesday, expect any FOMC chatter to attract attention as well.

Fed President Powell is expected to speak earlier this week.

In the week ending 5e In November, the US dollar index rose 0.21% to 94.320.

For the euro:

At the start of the week, German trade data and ZEW economic sentiment figures will be the center of attention.

At the end of the week, industrial production figures for the euro zone will also generate interest.

The finalized inflation figures for Germany, France and Spain are expected to have a moderate impact on the euro.

From the ECB, however, the ECB’s forecast and the Economic Bulletin will be decisive on Thursday.

On the week, the euro rose 0.08% to $ 1.1567.

For the pound:

It’s a busier week on the economic calendar.

At the start of the week, retail sales figures will be in the spotlight.

The key for the week, however, will be 3rd GDP and manufacturing for the quarter Production figures for September.

Business investment, trade data and industrial production figures will attract attention, however.

After the pound fell last week, expect any hawkish central bank gossip to influence as well.

The pound ended the week down 1.34% to $ 1.3498.

For the loonie:

It’s a particularly quiet week on the economic calendar. There are no important statistics outside of Canada to give direction to the loonie.

The lack of statistics will leave the loonie in the hands of market risk sentiment and crude oil prices.

The weekly inventory numbers and the OPEC monthly report will have an influence.

On the monetary policy front, BoC Governor Macklem is due to speak Wednesday morning.

The loonie ended the week down 0.56% to C $ 1.2457 against the US dollar.

Outside of Asia

For the Australian dollar:

The focus of attention will be on business and consumer confidence figures at the start of the week.

With reopening plans underway, a recovery in confidence should support the Australian dollar.

On the weekend, however, expect the employment numbers for October to be key.

The Australian dollar ended the week down 1.57% to $ 0.7400.

For the Kiwi-dollar:

It’s another quiet week to come.

At the start of the week, retail sales of electronic cards will be the focus ahead of Friday’s Business PMI figures.

With little else for markets to consider, both sets of numbers will provide direction.

The Kiwi dollar ended the week down 0.75% to $ 0.7117.

For the Japanese yen:

There are no major statistics to give direction to the yen during the week.

The Japanese yen rose 0.47% to 113.410 against the US dollar.

Outside of china

It’s a quiet week ahead on the economic calendar.

On Wednesday, inflation figures will be in the spotlight.

From the weekend, China’s trade data will set the tone …

The Chinese yuan ended the week up 0.10% to CNY 6.3989 against the US dollar.

Geopolitics

Nothing new to consider in the coming week, with China and Capitol Hill continuing to be the main areas of focus.

This article originally appeared on FX Empire

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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