Weekly Analysis (20-24 Nov)
| Time | Currency | Event |
| Monday | ||
| 18:45 | GBP | BoE Gov Bailey Speaks |
| Tuesday | ||
| 00:30 | AUD | RBA Meeting Minutes |
| 13:30 | CAD | CPI (MoM) (Oct) |
| 15:00 | USD | Existing Home Sales (Oct) |
| 16:00 | EUR | ECB President Lagarde Speaks |
| 19:00 | USD | FOMC Meeting Minutes |
| Wednesday | ||
| 10:00 | GBP | Autumn Forecast Statement |
| 13:30 | USD | Core Durable Goods Orders (MoM) (Oct) |
| 13:30 | USD | Initial Jobless Claims |
| 15:00 | USD | Michigan Consumer Sentiment (Nov) |
| 15:30 | USD | Crude Oil Inventories |
| Thursday | ||
| 09:00 | EUR | HCOB Eurozone Composite PMI (Nov) |
| 09:00 | EUR | HCOB Eurozone Services PMI (Nov) |
| 09:30 | GBP | S&P Global/CIPS UK Composite PMI |
| 09:30 | GBP | S&P Global/CIPS UK Services PMI |
| Friday | ||
| 00:30 | JPY | au Jibun Bank Japan Services PMI |
| 09:00 | EUR | ECB President Lagarde Speaks |
| 13:30 | CAD | Core Retail Sales (MoM) (Sep) |
| 14:45 | USD | S&P Global Composite PMI (Nov) |
| 14:45 | USD | S&P Global Services PMI (Nov) |
This week, the focus in the US is on the FOMC meeting minutes, set for release on Tuesday. Fed Chair Powell's recent remarks hinted at ongoing efforts to manage economic challenges, contrasting with indicators like inflation and retail sales. The minutes could clarify the Fed's stance on future rate hikes.
Attention will also be on core durable goods and initial jobless claims on Wednesday. Rising jobless claims may indicate a softening labor market. Additionally, Michigan consumer sentiment figures are crucial, as shifts in inflation expectations and consumer sentiment could affect spending forecasts.
On Friday, the preliminary private sector purchasing managers' indices for November will be released, with a focus on the services sector, which is a key component of the US economy. Investors should also keep an eye on the Federal Reserve's speeches later in the week.
In Europe, the week begins with German producer prices, which provide insight into demand trends. The main focus on Thursday will be on private sector PMIs in France, Germany, and the Eurozone, which may have an impact on the EUR. Components such as new orders and price trends will be crucial. Friday highlights German business sentiment and Q3 GDP numbers, influencing the EUR/USD pair.
ECB's Financial Stability Review and policy meeting minutes, due Wednesday and Thursday, along with speeches from ECB President Lagarde and Chief Economist Philip Lane, will be closely watched for any deviations from their current stance on rate cuts.
The pound faces potential volatility against the backdrop of the Bank of England's Financial Stability Report on Wednesday and the UK Autumn Statement. These events could signal macroeconomic trends, with speeches from BoE Governor Bailey and Chief Economist Huw Pill providing additional context.
For the Canadian Dollar, Monday's inflation figures and Friday's retail sales data will be important, as will Bank of Canada Governor Macklem's speech on Thursday.
The Australian Dollar will be influenced by Tuesday's RBA Monetary Policy Statement, with wage growth and employment data suggesting a possible hawkish stance. China's economic measures could also impact the Aussie dollar.
The New Zealand Dollar awaits Friday's retail sales data, with broader market sentiment towards the Chinese economy playing a role.
Finally, the Japanese Yen will react to Friday's inflation and private sector PMIs, potentially affecting the Bank of Japan's policy direction.
In China, the PBoC's Loan Prime Rate decision on Monday could reflect its response to mixed economic indicators and the ongoing housing crisis.