Financial Market Preview for January 11-15

The NFP report was much better than expected with headline figure of 292K jobs – the expectations were set much lower at 203K. But market concerns over China’s economic woes kept weighing on equities and commodities. On this week’s agenda: U.S. JOLTS, BOE rate decision, Japan’s current account, U.S. PPI, U.S. consumer sentiment, GB manufacturing PMI, Australia’s employment report, U.S. industrial production and retail sales. So let’s review the economic calendar for the week of January 11th to 15th:  

(All times GMT):

Monday, January 11th

23:50 – Japan’s Current Account: This report will show the changes in the difference between imported and exported goods, services, and income flows. In the last monthly report, the surplus in the current account expanded to 1.49 trillion yen;

Tuesday, January 12th

09:30 – Great Britain Manufacturing Production: This report will present the annual rate of GB’s manufacturing production for November; in the last report regarding October 2015 the index declined by 0.4%; this time, the estimates are for a 0.1% gain;

15:00 – U.S JOLTS Job Openings: The Bureau of Labor Statistics will release its monthly report on the U.S number of job openings for November, excluding the farming industry; in the previous update for October, the number of jobs opening slipped to 5.38 million; in the next report, the number is expected to reach 5.41 million;

Tentative – China’s Trade Balance: China’s trade balance surplus has contracted last month and is expected to moderately fall again in the upcoming report; this update provides another indication for the economic activity in the world’s second largest economy;

Wednesday, January 13th

15:30 – U.S Crude Oil Stockpiles Weekly update: The EIA (Energy Information Administration) will release its weekly report on the U.S oil and petroleum stockpiles for the week ending on January 8th;

Thursday, January 14th

02:30 – Australia Employment Update: In the recent report for November the rate of unemployment declined to 5.8%; the number of employed (seasonally adjusted) increased by 71.4K people. The weakness in the commodities markets and China’s economic woes could adversely impact the Australian’s economy (see here the recent report);

13:00 – BOE Rate Decision & Asset Purchase Plan: Bank of England isn’t expected to change its policy but the policy summery will be released and could offer some insight behind what’s next for the Bank’s monetary policy. The main takeaway will be the vote count and whether there will be, yet again, a dissenter to the vote;

13:30 – ECB Monetary Policy Meeting Accounts: The ECB will release the minutes of the last meeting from December; this report, however, isn’t likely to hit too many waves considering they refer to a policy change from a month and a half ago;

13:30 – U.S. Jobless Claims Weekly Report:  This weekly report will refer to the changes in the initial jobless claims for the week ending on January 8th; in the recent report, jobless claims slipped to 277K and is expected to remain unchanged this week – the outlook is at 278K;

15:30 – EIA U.S. Natural Gas Storage: The EIA weekly report of the U.S. natural gas market will refer to the latest changes in natural gas production, storage, consumption and rates as of January 8th;

Friday, January 15th

13:30 – U.S. Retail Sales Report: This monthly report refer to December; in the last November update, retail sales rose by 0.2% (month-over-month); core retail, by 0.4%; this will be among the main reports that will show how strong December sales were compared to previous years;

13:30 – U.S. Producer Price Index: This report shows the inflation rate from the producers’ side; it will refer to December 2015. In recent month’s report regarding November, this index for finished goods rose by 0.3%, m-o-m; the core PPI, by 0.3%; this will serve as a preview for the CPI report for next week;

14:15 – U.S. Industrial Production: This report will present the changes in the U.S industrial production during December; as of November, industrial production fell by 0.6%;

14:55 – UoM Consumer Sentiment (preliminary): University of Michigan will publish its preliminary consumer sentiment monthly report; this survey could offer information vis-à-vis the latest developments in U.S consumers’ sentiment; According to the last report, the sentiment index declined to 91.8;

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