This week’s economic calendar from 20 November to 24 November is packed with publications and statement schedules from several central banks. And also some CPI and PMI from the major economies as well.
On Monday (20 Nov), the Governor of Reserve Bank of Australia (RBA), Michele Bullock, and the Governor of Bank of England (BoE), Andrew Bailey, both scheduled their statements on their respective monetary policies.
Furthermore, there is publication of New Zealand trade balance and also the US 20-year bond auction.
On Tuesday (21 Nov), the most important publication of the day is the US Federal Open Market Committee (FOMC) meeting minutes, which detail what impacted their decision on interest rate. Meanwhile, the President of the European Central Bank (ECB), Christine Largarde, scheduled her statement on the same day as well.
Moreover, Canada’s inflation or the October CPI is expected to publish at 3.2% YoY, lower from the previous month of 3.8% YoY.
On Wednesday (22 Nov), President of Germany’s central bank (Bundesbank), Joachim Nagel, scheduled his statement on monetary policy, as well as the BoE and ECB that scheduled to publish their Financial stability reports on the same day.
In addition, the US will publish the Durable goods order which is expected at -3.2% MoM in October, much lower than the previous 4.7%. Also, the second day of FOMC meeting minutes as well
On Thursday (23 Nov), the HCOB Eurozone composite PMI and S&P global/CIPS UK composite PMI are expected to publish on the same day, as the current trend prediction is unchanged with almost the same number below 47 and 49, respectively.
Furthermore, Japan’s national core CPI for October is expected at 3% YoY, a slight increase from the previous month of 2.8%. And also the PMI that was expected on the same day as well, but there is still no prediction on the service number.
On Friday (24 Nov), the US market will close early due to the Thanksgiving holiday. However, the US November S&P global composite PMI is expected on this Friday, as well as Germany’s Q3 GDP that is expected at -0.3% YoY, a slightly more negative than the previous -0.2 YoY. And there is also the publication of Germany’s November Ifo business climate index.
The Germany’s central bank President also scheduled his statement on the matter. And the ECB President is also scheduled for another statement 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.
On Wednesday, the US EIA 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.
However, due to the Thanksgiving holiday, this week CFTC speculative net positions will be delayed to 27 November instead.