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- What to expect next week – 20.11 – 24.11.2017
What to expect next week - 20.11 - 24.11.2017
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Loading...What happened last week - For stock markets, the past week has been characterized by an increased volatility, as it became clear at the beginning of the week that the US tax reform was postponed until 2019. This led to a fall in the indexes until the Congress passed the changes in the US tax code, and the mood in the senate suggests that Trump has won more and more supporters. The indexes showed a strong positive news, with most of them closing the week near the record levels. Last week, North Korea returned to the media headlines and on Wednesday the country announced that it was sentencing Donald Trump for death because of insult. Later on Friday, from published satellite images, it became clear that the North Korean leader is attempting to create a submarine capable of carrying nuclear weapons. Hours before closing the markets in North Korea confirmed that they firmly refused negotiations with the United States on the country's nuclear program. The news has led to a rise in JPY gold and oil as we expect these movements to be short-lived, as the likelihood of a new geopolitical conflict is small.
What to expect next week - Next week, the focus will be on Europe, as the US is not expecting any major news, and in addition Thursday is Thanksgiving and both Friday holidays will be off. On Monday, we expect a speech by Mario Draghi, from which investors will look for information on future ECB monetary policy decisions. We do not expect Draghi's speech to have a strong influence because he clearly confirmed that interest rates will remain low and QE will continue until the end of September 2018. Later in the week, PMI data will be published in the industry of the largest euro area economies, from which investors will receive information on whether the bloc's economy continues to grow at a steady pace. On the same day, we are also looking forward to the report on the ECB's last meeting, which will provide information on the moods among Central Bank members and what their next moves will be.
The economic data that will move the markets next week
Monday:
01:50 Japan - Trade Balance
09:00 Germany - Producer Price Index - PPI
16:00 Eurozone - Speech by Mario Draghi - President of the ECB
Tuesday:
02:30 Australia - RBA report
11:05 Australia - Speech by Philip Lowe - President of the RBA
13:00 UK - CBI Industrial Order Balance Sheet
15:30 Canada - Wholesale Sales
17:00 USA - Selling Existing Homes
Wednesday:
01:00 USA - Speech by Janet Yellen, Fed Chairman
02:30 Australia - Construction completed
15:30 USA - Durable goods
15:30 USA - Jobless claims
17:00 USA - User sentiment from Michigan
17:30 USA - Crude oil inventories
21:00 USA - FOMC meeting report
23:45 New Zealand - Retail sales
Thursday:
Holiday in the United States - Thanksgiving Day
Holiday in Japan - Thanksgiving Day
09:00 Germany - GDP
10:00 France - Manufacturing PMI
10:30 Germany - Manufacturing PMI
11:00 Eurozone - Manufacturing PMI
11:30 UK - Business sentiment
11:30 UK - GDP
14:30 Eurozone - ECB meeting report
15:30 Canada - Retail sales
18:30 Switzerland - Speech by Thomas Jordan Governor of the Swiss National Bank
23:45 New Zealand - Trade Balance
Friday:
A day off in the US - a day after Thanksgiving
02:30 Japan - Manufacturing PMI
10:15 Switzerland - Industrial Procurement
11:00 Germany - IFO Business Climate
16:45 USA - Manufacturing PMI
16:45 USA - Services PMI
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