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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