Wednesday’s Federal Reserve meeting minutes will be the main highlight of a holiday-shortened week, with investors on the lookout for any indication that the pace of rate hikes may slow. The most important shopping period of the year kicks off on Friday in what will be a key test for U.S. retailers. The latest world economic forecasts from OECD on Tuesday along with global PMI data will give an important insight into the health of the world economy. Meanwhile, China may step up economic support measures and there are signs king dollar may be about to lose its crown.
The economic calendar for the coming week also includes the Richmond Fed manufacturing index, initial jobless claims, durable goods orders for October and PMI data for November.
Against a background of soaring inflation and rising interest rates, a key test of consumer demand arrives on Nov. 25, when retailers launch “Black Friday” sales – traditionally one of the year’s strongest shopping days.
Recent data showed that U.S. retail sales rose more than expected in October, indicating that consumers may be on more solid footing heading into year-end. Consumer spending accounts for more than two-thirds of U.S. economic activity.
Four days before the U.S. Thanksgiving holiday, crypto markets decided they didn’t have much for which to be thankful.
Have your trading charts ready!
This Week’s High Impact Events
The times below are GMT +2.
Monday 21st November
No High Impact Events
Tuesday 22nd November
09.00 – Australia – RBA Gov. Lowe Speaks
Potential instruments to Trade: AUD Crosses.
17.00 – US – Richmond Manufacturing Index
Potential instruments to Trade: USD Crosses.
18.00 – US – FOMC Member Mester Speaks
Potential instruments to Trade: USD Crosses.
21.15 – US – FOMC Member George Speaks
Potential instruments to Trade: USD Crosses.
21.45 – US – FOMC Member Bullard Speaks
Potential instruments to Trade: USD Crosses.
Wednesday 23rd November
03.00 – New Zealand – Official Cash Rate, RBNZ Monetary Policy Statement, & RBNZ Rate Statement
Potential instruments to Trade: NZD Crosses.
04.00 – New Zealand – RBNZ Press Conference
Potential instruments to Trade: NZD Crosses.
From 10.15 – Europe – French & German Flash Manufacturing & Flash Services PMI
Potential instruments to Trade: EUR Crosses.
11.00 – UK – Flash Manufacturing & Flash Services PMI
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