Weekly Analysis (13 - 17 Nov)

Time	Currency	Event
Monday
12:00	USD	OPEC Monthly Report
15:30	EUR	Crude Oil Inventories
Tuesday
00:30	AUD	NAB Business Confidence (Oct)
07:00	GBP	Average Earnings Index +Bonus (Sep)
07:00	GBP	Unemployment Rate (Sep)
10:00	EUR	ZEW Economic Sentiment (Nov)
13:30	USD	Core CPI (MoM) (Oct)
13:30	USD	CPI (MoM) (Oct)
23:50	JPY	GDP (QoQ) (Q3)
Wednesday
02:00	CNY	Industrial Production (YoY) (Oct)
07:00	GBP	CPI (YoY) (Oct)
10:00	EUR	Industrial Production (MoM) (Sep)
13:30	USD	Core Retail Sales (MoM) (Oct)
13:30	USD	PPI (MoM) (Oct)
15:30	USD	Crude Oil Inventories
Thursday
00:30	AUD	Employment Change (Oct)
11:30	EUR	ECB President Lagarde Speaks
13:30	USD	Initial Jobless Claims
13:30	USD	Philadelphia Fed Manufacturing Index (Nov)
Friday
07:00	GBP	Core Retail Sales (YoY) (Oct)
08:30	EUR	ECB President Lagarde Speaks
10:00	EUR	CPI (YoY) (Oct)
13:30	USD	Building Permits (Oct)

In the US, the primary focus will be on inflation data. Tuesday will be a particularly significant day, as it will reveal the core Consumer Price Index (CPI), indicating whether price levels are slowing down. This is crucial, especially considering that energy prices have tapered off after driving last month's inflationary pressures. On Wednesday, attention will turn to the Producer Price Index (PPI) and core retail sales, which will help confirm the CPI levels. Thursday brings Initial Jobless Claims and the Philadelphia Manufacturing Index, followed by the closing of the week on Friday with the release of Building Permits.

In the Eurozone, Tuesday will feature the release of Preliminary Quarterly GDP data along with the ZEW Economic Sentiment. Market expectations are for a decline in regional growth due to deteriorating principal economic indicators signaling sluggish business activity. Wednesday will see the release of Industrial Production data, which is also anticipated to show a significant drop this month, reflecting the overall decline in economic activity. President Lagarde will deliver two speeches on Thursday and Friday, closely watched by the market for any hints regarding potential rate cuts next year. On Friday, the Consumer Price Index (CPI) will be scrutinized as inflation levels continue to decrease in the region, particularly in Germany.

The UK economy will witness a similar set of data related to prices, starting on Tuesday with the Average Earnings Index, providing insights into wage pressures on inflation levels. This will be followed by the Unemployment Rate, and on Wednesday, the release of CPI and PPI figures. The UK is still grappling with elevated inflation levels. To conclude the week, Retail Sales data on Friday will once again shift the focus to price pressure data, which are of paramount importance for the Bank of England (BoE).

In Japan, Tuesday brings the eagerly awaited yearly and quarterly GDP data, with forecasts indicating a sharp drop. Subsequently, the release of Chinese Industrial Production monthly data and Australian Labor Market data on Thursday will add further insights into the regional economic landscape.