Last week was a whirlwind for investors, as the US election sent markets swinging and rate cuts were delivered as anticipated by both the Fed and the Bank of England. This week is expected to bring a more settled trading environment as investors digest these latest developments. A well-rounded mix of macroeconomic data releases is on the agenda, alongside updates from several key central bankers.
Here’s our day-by-day breakdown of the major events to watch this week:
Liquidity may be tight with several key markets on a long weekend due to bank holidays in France, the US, and Canada, affecting all three trading sessions. The calendar is fairly quiet overall, although New Zealand traders will be alert midway through the Asian session for the release of the latest Quarterly Inflation Expectations data.
A quiet start during the Asian session, but things should pick up as Europe opens. The initial focus will be on the UK with the release of key employment figures, followed later by the German ZEW Economic Sentiment data. Although there are no scheduled data releases in the New York session, Fed speakers Waller, Barkin, Harker, and Kashkari are all due to speak throughout the day.
Early on, Australian markets will be in the spotlight with the release of the latest Wage Price Index figures. The European session remains light on data, but perhaps the most significant release of the week arrives shortly after the New York open with the US CPI data. Later in the day, Fed members Logan, Musalem, and Schmid are scheduled to make statements.
Australia takes centre stage in the Asian session, beginning with comments from the Reserve Bank’s Michele Bullock at ASIC’s annual forum, followed by the release of employment data. The London session remains quiet, but once New York opens, it’s set to be one of the most active periods of the week. Key US data releases, including the PPI, weekly unemployment claims, and Oil Inventory numbers, are due out before appearances from major central bankers: Fed Chair Jerome Powell, Bank of England’s Andrew Bailey, and ECB President Christine Lagarde.
Macroeconomic data is expected across all sessions. Midway through the Asian day, Chinese Industrial Production and Retail Sales figures are due. The European session will feature early UK GDP numbers, and the New York session will open with US Retail Sales and the Empire State Manufacturing Index being released in tandem.
