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.
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