Expectations for the upcoming week
The week at the cusp of October and November will be very informative due to the publication of many reports.
The beginning of the week, as always, will be very restrained, but it is worth highlighting in these news the economic forecasts for the eurozone and the UK. Also a very significant indicator of inflation is the data on US spending, which will be released by the end of the day.
Tuesday is almost entirely devoted to data on the eurozone. So, throughout the day, there are preliminary data on France’s GDP, inflation in Spain and eurozone GDP. Also the employment report in Germany it is worth noting, expectations on it remain very positive. Data for Germany, unlike the others, will be factual, not preliminary.
On Wednesday, the economic calendar will reach its peak. The Asian session is expected to publish data on inflation in Australia and business activity in China. Also, the publication of the Bank of Japan meeting results is expected. In the European session, investors will be focused on data on inflation and employment in the eurozone. The US session will also be saturated with data on the number of people employed in the nonfarm sector of the United States, data on Canadian GDP and data on oil inventories in the United States.
On Thursday, the bulk of the news is due to statistics on business activity in the manufacturing sector (PMI) . The publication of the Bank of England protocol is the main events of the day, from which no significant changes in the monetary policy of Great Britain are expected.
On Friday, the closing of the week will also be filled with news, but employment report in the United States will be highlighted against the background of data on business activity and retail sales. It will be the main event of the week. Expectations regarding the US labor market in October remain discreetly positive, which does not prevent this report from having a significant impact on the dynamics of the US dollar. (Anton Hanzenko)
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