Key economic events for this week are relatively thin on the ground, but the Reserve Bank of Australia (RBA) will be in focus with a rate decision, and then a monetary policy statement. Investors should also keep an eye out for the Chinese trade balance and inflation figures.
On the corporate calendar, full-year numbers from Associated British Foods and Imperial Brands, and first-half figures from M&S, Burberry and Sainsbury’s, will be worth watching out for, while in the US, earnings season continues to grind on.
7am – Germany factory orders (September): expected to fall 1.6% MoM. Market to watch: EUR crosses
3pm – Canada Ivey PMI (October): expected to fall to 58 from 59.6. Market to watch: CAD crosses
3.30am – RBA rate decision: no change in policy expected. Market to watch: AUD crosses
10am – eurozone retail sales (September): YoY growth forecast to increase to 1.9% from 1.2%. Market to watch: EUR crosses
3am – China trade balance (October): exports expected to rise by 8.8% from 8.1% a month earlier. Markets to watch: China indices, CNY crosses
3.30pm – US EIA crude inventories (w/e 3 November): previous week saw a fall of 2.4 million barrels. Markets to watch: Brent, WTI
1.30am – China CPI (October): expected to rise to 1.8% YoY from 1.6%, and fall to 0.2% from 0.5% MoM. Markets to watch: China indices, CNY crosses
7am – German trade balance (October): surplus expected to rise to €21.5 billion. Market to watch: EUR crosses
1.30pm – US initial jobless claims (w/e 4 November): forecast to rise to 236K from 229K. Markets to watch: US indices, USD crosses
12.30am – RBA statement on monetary policy: this will detail the bank’s views on the state of the Australian economy. Market to watch: AUD crosses
9.30am – UK trade balance, industrial & mfg production (September): trade deficit forecast to narrow to £4.7 billion from £5.6 billion. Market to watch: GBP crosses
3pm – US Michigan consumer confidence (November, preliminary): forecast to fall to 97 from 100.7. Markets to watch: US indices, USD crosses
Source: Chris Beauchamp