The week ahead – Central bank discussion, economic data and COVID-19 at a glance


On the macro

It’s a particularly busy week on the economic calendar, with 78 stats featured in the week ending 3e December. During the previous week, 49 statistics had been finalized.

For the dollar:

Earlier this week, consumer confidence will be the focus ahead of non-farm and manufacturing ADP data on Wednesday.

Expect the most interest in consumer confidence and ADP numbers.

Thursday’s weekly jobless claims will also have an influence ahead of a busy weekend.

Non-farm payrolls and ISM non-manufacturing PMI figures conclude on Friday.

On the monetary policy front, discussions by Fed Chairman Powell and FOMC members will also be the focus of attention. The President of the FED is to testify in the 1st half the week, which will be essential with the latest new COVID-19 strain.

During the week, the US dollar index rose 0.06% to 96.089.

For the euro:

French consumer spending and German unemployment figures get things going on Tuesday.

While consumption is key, expect unemployment data in Germany to have a bigger impact.

German retail sales and manufacturing PMIs will be the center of attention on Wednesday.

At the end of the week, services sector PMIs and euro area retail sales will also influence.

While the statistics will generate a lot of interest, November’s preliminary inflation figures for the euro area and member states are likely to be key.

Outside of the economic calendar, any new COVID-19 lockdown measure would likely eclipse all bullish numbers.

On the week, the euro rose 0.24% to $ 1.1317.

For the pound:

It’s a relatively quiet week ahead on the economic calendar.

The finalized private sector PMIs for November will be the focus of attention. Expect any revision to the services PMI to have the biggest impact on the pound.

On the monetary policy front, central bank chatter will also provide direction. BoE Governor Bailey is due to speak on Wednesday.

The pound ended the week down 0.85% to $ 1.3337.

For the loonie:

It’s a relatively quiet week ahead on the economic calendar.

GDP figures will provide guidance on Tuesday ahead of employment figures on Friday.

Outside of the economic calendar, however, expect crude oil inventories and prices to influence. OPEC’s meeting this week and consumer sentiment amid the latest COVID-19 lockdowns will drive crude oil prices.

The loonie ended the week down 1.19% to C $ 1.2791 against the US dollar.

Outside of Asia

For the Australian dollar:

It’s a busy week ahead. At the start of the week, corporate gross operating profits and private sector credit data will be the focus of attention.

For the week, however, key stats will be GDP numbers on Wednesday ahead of trade data on Thursday.

The Australian dollar ended the week lower from $ 1.55 to $ 0.7123.

For the Kiwi-Dollar:

It’s a quiet week ahead.

Economic data is limited to business confidence figures expected Tuesday. With foreclosure measures relaxed, markets will look for a recovery after October’s decline.

The latest COVID-19 news from Europe, however, could weigh on sentiment and more heavily on the Kiwi.

The Kiwi Dollar ended the week down 2.60% to $ 0.6822.

For the Japanese yen:

Retail sales and preliminary industrial production figures will be the focus at the start of the week.

In the 2sd Halfway through the week, the finalized private sector PMIs for November will also generate interest.

Ultimately, however, COVID-19 news updates will continue to be the main driver of the Japanese yen.

The Japanese yen rose 0.54% to 113.380 yen against the US dollar.

Outside of china

It’s a busy week on the economic calendar.

On Tuesday, the NBS Manufacturing PMI numbers will be the center of attention ahead of Wednesday’s all-important Caixin Manufacturing PMI.

While the overall figure will generate a lot of interest, new orders, delivery times, and entry and exit price trends will likely be the main areas of interest.

On Friday, however, PMI Services will also generate interest.

The Chinese yuan ended the week down 0.10% to CNY 6.3933 against the US dollar.

Geopolitics

Nothing new to consider in the coming week, with China and Capitol Hill continuing to be the main areas of focus.

COVID-19[female[feminine

News of the increase in new COVID-19 cases and discussions on lockdown measures will have an influence. The key, however, will be updates on the new strain of COVID-19 and any government chatter about border controls.

This article originally appeared on FX Empire

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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