December 4, 2023

Weekly Economic Calendar

Foreign Exchange

December 3 - December 8, 2023 Economic report and policy meetings

 

December 3

Australia:  Home Loans (MoM) – October, Investment Lending for Homes – October

Euro-Zone:  Germany: Balance of Trade – October, Exports (MoM) – October

Switzerland:  Inflation Rate (YoY) – November  

 

December 4

Australia:  Reserve Bank of Australia Interest Rate DecosokJudo Bank Services Purchasing Managers Index (PMI) Final – November

China:  Caixin Composite PMI – November, Caixin Services PMI – November

Euro-Zone:  Spain: Unemployment Change – November, France: Industrial Production (MoM) – October

Philippines:  Inflation Rate (YoY) – November

South Korea:  GDP Growth Rate (QoQ) Final – 3rd Qtr., GDP Growth Rate (YoY) Final – 3rd Qtr., Inflation Rate (YoY) – November

U.K.:  British Retail Consortium (BRC) Retail Sales Monitor (YoY) – November

U.S.:  Factory Orders (MoM) – October   

 

December 5

Australia:  Ai Group Industry Index – November, GDP Growth Rate (YoY)- 3rd Qtr., GDP Growth Rate (QoQ) – 3rd Qtr.

Brazil:  GDP Growth Rate (QoQ) – 3rd Qtr., GDP Growth Rate (YoY) – 3rd Qtr., S&P Global Services PMI – November

Euro-Zone:  HCOB Services Purchasing Managers Index (PMI) Final – November, Spain: HCOB Services Purchasing Managers Index (PMI) – November, Italy: HCOB Services PMI – November, France: HCOB Services PMI Final – November, Germany: HCOB Services PMI Final – November, Spain: Consumer Confidence - November

Japan:  Reuters Tankan Index – November    

South Africa:  GDP Growth Rate (QoQ) – 3rd Qtr., GDP Growth Rate (YoY) – 3rd Qtr.

U.K.:  S&P Global/CIPS Services Purchasing Managers Index (PMI) Final – November   

U.S.: S&P Global Composite Purchasing Managers Index (PMI) Final – November, S&P Global Services PMI Final – November, Institute of Supply Management (ISM) Services PMI – November, ISM Services Employment – November, RCM/TIPP Economic Optimism Index – December   

The Bureau of Labor Statistics releases the Job Openings and Labor Turnover Survey. Economists forecast 9.35 million job openings on the last business day of October, roughly 200,000 fewer than in September. There are currently 1.5 open positions for every unemployed worker, down from a peak of two in March of 2022, but still historically elevated. The Institute for Supply Management releases its Services Purchasing Managers’ Index for November. Expectations are for a 51.8 reading, which would equal October’s number.

 

December 6

Australia:  Balance of Trade – October   

Canada:  Balance of Trade – October, Bank of Canada Interest Rate Decision – December, Ivey Purchasing Managers Index (PMI) s.a. – November

China:  Balance of Trade – November

Euro-Zone:  Retail Sales (YoY) – October, France: Balance of Trade - October

Japan:  Foreign Bond Investment – December 2, Coincident Index Preliminary – October, Leading Economic Index Preliminary - October

Mexico:  Consumer Confidence – November

Philippines:  Unemployment - October

Poland:  Interest Rate Decision – December       

Switzerland:  Unemployment Rate – November

U.K.:  S&P Global/CIPS Construction Purchasing Managers Index (PMI) – November

U.S.:  ADP Employment Change – November, Balance of Trade – October, Exports – October, Imports – October, MBA 30-Year Mortgage Rate (December 1),  MBA Survey Indexes - Mortgage Market Index, Mortgage Applications (December 1), Mortgage Market Change, Mortgage Refinance Index, Refinancing Change, MBA Mortgage Approvals (December 1), Department of Energy (DOE) U.S. Crude Oil Inventories (December 1), DOE Cushing OK Crude Inventory (December 1), DOE U.S. Gasoline Inventories (December 1), DOE U.S. Distillate Inventory (December 1), DOE U.S. Refinery Utilization (December 1), DOE Crude Oil Implied Demand (December 1), Gasoline Implied Demand (December 1), Distillate Implied Demand (December 1), API Crude Oil Stock Change (December 1), EIA Natural Gas Stocks Change – December 1

 

December 7

Australia:  Reserve Bank of Australia (RBA) Brischetto Speech

Canada:  Building Permits (MoM) – October, Bank of Canada Governor Macklem Speech

Euro-Zone:  GDP Growth Rate (QoQ) 3rd Estimate – 3rd Qtr., GDP Growth Rate (YoY) 3rd Estimate – 3rd Qtr., Italy: Industrial Production (MoM) – October, Industrial Production (YoY) – October, Retail Sales (MoM) – October, Germany: Inflation Rate (YoY) Final – November, Inflation Rate (MoM) Final – November

India:  Reserve Bank of India Interest Rate Decision   

Japan:  GDP Growth Annualized Final – 3rd Qtr., Bank Lending (YoY) – November, GDP Growth Rate (QoQ) Final – 3rd Qtr., Economy Watchers Survey Current – November, Economy Watchers Survey Outlook – November

Mexico:  Inflation Rate (YoY) – November, Core Inflation Rate (MoM) – November    

U.S.:  Continuing Jobless Claims – November 25, Initial Jobless Claims – December 2, Wholesale Inventories (MoM) – October, Consumer Credit Change – October

 

December 8

Brazil:  Business Confidence – December

China:  Inflation Rate (YoY) – November, Inflation Rate (MoM) – November, Producer Price Index (PPI) (YoY) – November   

Russia:  Inflation Rate (MoM) – November, Inflation Rate (YoY) – November

U.S:  Non-Farm Payrolls – November, Unemployment Rate – November, Average Hourly Earnings (MoM) – November, Average Hourly Earnings (YoY) – November, Average Weekly Hours – November, Nonfarm Payrolls Private – November, Participation Rate – November, University of Michigan Consumer Sentiment Preliminary – December, Baker Hughes U.S. Rig Count – December 8

The Bureau of Labor Statistics (BLS) releases the U.S. jobs report for November. Consensus estimate is for an increase of 175,000 in nonfarm payrolls, 25,000 more than in October. The unemployment rate is expected to remain unchanged at 3.9%. Jobs growth has slowed this year to a still-solid average of 238,800 a month after two years of average monthly gains of slightly more than 500,000.

Bold denotes likely market-moving newsflash which traders consider significant to foreign exchange levels or otherwise important/noteworthy information, i.e., market holiday’s which will affect standard settlement dates.

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