November 13, 2023

Weekly Economic Calendar

Foreign Exchange

November 12 - November 17, 2023 Economic report and policy meetings

 

November 12

Japan:  Producer Price Index (PPI) (MoM) – October, PPI (YoY) - October

New Zealand:  Services NZ PSI - October

 

November 13

Australia:   Westpac Consumer Confidence Index – November

Brazil:  Business Confidence – November     

China:  New Yuan Loans – October   

Euro-Zone:  Spain: Consumer Confidence

India:  Inflation Rate (YoY) – October  

U.K.:  Employment Change – August, Unemployment Rate – September, Average Earnings including Bonus (3MO/Yr.) – September, Claimant Count Change – October

U.S.:  Monthly Budget Statement – October, Federal Reserve’s Cook Speech

 

November 14

Australia:  Wage Price Index (YoY) – 3rd Qtr.

China:  Fixed Asset Investment (YTD) (YoY) – October, Industrial Production (YoY) – October, Retail Sales (YoY) – October, Unemployment Rate – October

Euro-Zone:  GDP Growth Rate (QoQ) 2nd Estimate – 3rd Qtr., GDP Growth Rate (YoY) 2nd Estimate – 3rd Qtr., ZEW Economic Sentiment Index – November. Germany: ZEW Economic Sentiment Index – November, ZEW Current Conditions – November, France: IEA Oil Market Report, France: Unemployment Rate – 3rd Qtr., France: Inflation Rate (MoM) Final – October, Inflation Rate (YoY) Final – October  

Japan:  GDP Growth Annualized Preliminary – 3rd Qtr., GDP Growth Rate (QoQ) Preliminary – 3rd Qtr., Industrial Production (YoY) Final – September

Netherlands:  GDP Growth Rate (QoQ) Flash – 3rd Qtr., GDP Growth Rate (YoY) Flash – 3rd Qtr.

New Zealand:  Electronic Retail Card Spending (MoM) – October, Electronic Retail Card Spending (YoY) – October

Poland:  GDP Growth rate (QoQ) Preliminary – 3rd Qtr., GDP Growth Rate (YoY) Preliminary – 3rd Qtr.

South Africa:  Unemployment Rate – 3rd Qtr.

South Korea:  Unemployment Rate – October

U.K.:  Core Inflation Rate (YoY) – October, Inflation Rate (YoY) – October, Inflation Rate (MoM) - October

U.S.:  Federal Reserve’s Jefferson Speech, Federal Reserve Mester Speech, Federal Reserve Goolsbee Speech, Core Inflation Rate (YoY) – October, Inflation Rate (YoY) – October, Core Inflation Rate (MoM) – October, Consumer Price Index (CPI) – October, CPI s.a. – October, Inflation Rate (MoM) – October

The Bureau of Labor Statistics release the consumer price index for October.  Economists forecast a 3.3% year-over-year increase, following a 3.7% rise in September.  The core CPI, which excludes volatile food and energy prices, is expected to gain 4.1%, unchanged from September.  Retailers’ earnings take center stage as Wall Street debates whether the U.S. consumer can continue to defy the skeptics and power the economy after gross domestic product grew at a seasonally adjusted annual rate of 4.9% in the third quarter.

 

November 15

Australia:  Consumer Inflation Expectations – November, Employment Change – October, Unemployment Rate – October, Full Time Employment Change - October   

China:  House Price Index (YoY) – October

Euro-Zone:  ECB Non-Monetary Policy Meeting, Balance of Trade – September, Industrial Production (YoY) – September, Italy: Inflation Rate (YoY) Final – October

India:  Balance of Trade - October

Japan:  Foreign Bond Investment – November 11th, Balance of Trade – October, Machinery Orders (YoY) – September, Tertiary Industry Index (MoM) – September

Netherlands:  Unemployment Rate – October

Philippines:  Interest Rate Decision

Russia:  GDP Growth Rate (YoY) Preliminary – 3rd Qtr.

U.S.:  Producer Price Index (PPI) (MoM) – October, Retail Sales (MoM) – October, Retail Sales Excluding Autos (MoM)- October, Retail Sales Excluding Gas/Autos (MoM) – October, Business Inventories (MoM) – September, MBA 30-Year Mortgage Rate (November 10),  MBA Survey Indexes - Mortgage Market Index, Mortgage Applications (November 10), Mortgage Market Change, Mortgage Refinance Index, Refinancing Change, MBA Mortgage Approvals (November 10), Department of Energy (DOE) U.S. Crude Oil Inventories (November 10), DOE Cushing OK Crude Inventory (November 10), DOE U.S. Gasoline Inventories (November 10), DOE U.S. Distillate Inventory (November 10), DOE U.S. Refinery Utilization (November 10), DOE Crude Oil Implied Demand (November 10), Gasoline Implied Demand (November 10), Distillate Implied Demand (November 10), API Crude Oil Stock Change (November 10), EIA Natural Gas Stocks Change – November 10, Federal Reserve’s Barr Speech

President Joe Biden will meet with China’s President Xi Jinping during the Asia-Pacific Economic Cooperation summit in the San Francisco Bay Area.  The two leaders are bidding to stabilize the relationship between the world’s two largest economies.  The Census Bureau reports retail sales data for October.  Consensus estimate is for consumer spending to decline 0.4% month over month.  Excluding autos, sales are expected to fall 0.2%.  This compares with increases of 0.7% and 0.6%, respectively, in September.

 

November 16

Australia:

China:  Foreign Direct Investment (FDI) YTD (YoY) – October

Euro-Zone:  ECB President Lagarde Speech, Italy: Balance of Trade – September

Israel:  GDP Growth Annualized 1st Estimate – 3rd Qtr.

Switzerland:  Industrial Production (YoY) – 3rd Qtr.

U.K.:  Retail Sales excluding Fuel (YoY) – October, Retail Sales (YoY) – October

U.S.:  Continuing Jobless Claims – November 4, Initial Jobless Claims – November 11, Philadelphia Federal Reserve Manufacturing Index – November, Industrial Production (MoM) – October, Industrial Production (YoY) – October, National Association of Home Builders (NAHB) Housing Market Index – November, Net Long-term Treasury International Capital (TIC) Flows – September, Federal Reserve’s Cook Speech, Federal Reserve’s Barr Speech, Federal Reserve’s Mester Speech, Federal Reserve’s Williams Speech, Federal Reserve’s Waller Speech

 

November 17

Euro Zone:  Core Inflation Rate (YoY) Final – October, Inflation Rate (MoM) Final – October, Inflation Rate (YoY) Final – October, ECB President Lagarde Speech, Spain: Balance of Trade – September   

U.S.:  Building Permits Preliminary – October, Building Permits (MoM) Preliminary – October, Housing Starts (MoM) – October, Federal Reserve’s Daly Speech, Baker Hughes U.S. Rig Count – November

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.

This is not a complete analysis of every material fact regarding any company, industry or security. The information and materials herein have been obtained from sources we consider to be reliable, but Comerica Capital Markets does not warrant, or guarantee, its completeness or accuracy. Materials prepared by Comerica Capital Markets personnel are based on public information. Facts and views presented in this material have not been reviewed by, and may not reflect information known to, professionals in other business areas of Comerica Capital Markets, including investment banking personnel.

The views expressed are those of the author at the time of writing and are subject to change without notice. We do not assume any liability for losses that may result from the reliance by any person upon any such information or opinions. This material has been distributed for general educational/informational purposes only and should not be considered as investment advice or a recommendation for any particular security, strategy or investment product, or as personalized investment advice.

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