Forex and other markets news
Week Ahead News. 28.11 - 04.12
Week Ahead News. 28.11 - 04.12
Germany Consumer Price Index (CPI) YoY (Nov)
In October, the annual inflation rate in Germany rose to 10.4%, amid euro weakness, a deepening energy crisis, and lingering supply chain issues. The growth of commodity prices has accelerated due to the high cost of energy carriers, and food has also risen in price. In addition, the cost of services and rent has increased.
29 November, 20:00, GMT+7
EUR and its subsequent pairs
Forecast 10.1% (Actual 10.4%)
Eurozone Consumer Price Index (CPI) YoY (Nov)
The Eurozone consumer price inflation slit to 10.6% in October. However, the indicator remains the highest in history. Energy carriers, food, services and non-energy industrial goods again became the leaders of growth. The weakness of the euro and poor economic data are forcing the ECB to raise rates and probably maintain them until the end of 2023.
30 November, 17:00, GMT+7
EUR and its subsequent pairs
Forecast 10.2% (Actual 10.6%)
U.S. Gross Domestic Product (GDP) (Q3)
The U.S. economy grew an annualized 2.6% in Q3 2022, beating forecasts of a 2.4% rise. The trade gap has narrowed, which has led to an increase in net trade. Imports declined while exports rose, led by petroleum products and financial services. At the same time, investments in non-residential premises jumped, which was facilitated by an increase in investments in equipment and intellectual property. On the other hand, the housing market has suffered from a sharp rise in mortgage rates. Finally, consumer spending grew at a slower pace, but remained steady as higher spending on services (led by healthcare) offset lower prices for goods, namely cars, food and beverages.
30 November, 20:30, GMT+7
USD and its subsequent pairs
Forecast 2.8% (Actual 2.6%)
U.K. Manufacturing PMI (Nov)
The U.K. Manufacturing PMI rose slightly to 46.2 in October, but still points to the highest rate of contraction in the sector since May 2020. The number of new orders decreased by the most in 2.5 years, while the number of new export orders decreased for the ninth month in a row upon weakening domestic and external demand. Looking ahead, business optimism has fallen to a 2.5 year low as weak demand, recession fears, inflationary pressures and growing uncertainty have weakened confidence.
1 December, 16:30, GMT+7
GBP and its subsequent pairs
Forecast 45.8 (Actual 45.8)
U.S. ISM Manufacturing PMI (Nov)
The ISM Manufacturing PMI fell to 50.2 in October, which indicates the slowest growth in manufacturing activity since the contraction in mid-2020. The number of new orders decreased less, and employment remained virtually unchanged. Meanwhile, price pressure continued to weaken for the seventh month in a row, which should encourage buyers. In general, the October result of the survey of index participants reflects the preparation of companies for a potential decline in demand in the future.
1 December, 22:00, GMT+7
USD and its subsequent pairs
Forecast 50.0 (Actual 50.2)
U.S. Nonfarm Payrolls (Nov)
The U.S. economy added more than expected 261K jobs in October, indicating a strong, albeit slowing, labor market as a shortage of workers persists. A noticeable increase in jobs occurred in the health sector, professional and technical services. The monthly growth in the number of jobs in 2022 averaged 407K compared to 562K per month in 2021.
2 December, 20:30, GMT+7
USD and its subsequent pairs
Forecast 200K (Actual 261K)