The recent NFP report was considered “good-enough” to keep the odds high for a Fed rate hike coming December. This week the U.S. elections will take center stage and is likely to dominate the news cycle and move markets. But there are still a few more reports and events to consider, herein is this week’s agenda:
(All times GMT):
Monday, November 7th
08:00 – German Factory Orders: In the last report, factory orders rose by 1% in September; the market estimates that this time factory orders increased by 0.2% in October;
Tentative – China’s Trade Balance: China’s trade balance surplus has expanded last month and is expected to moderately expand again in the next report; this update provides another indication for the economic activity in the world’s second largest economy;
Tuesday, November 8th
09:30 – Great Britain Manufacturing Production: This report will present the annual rate of GB’s manufacturing production for September; in the recent report regarding August 2016 the index increased by 0.2%; this time, the estimates are for a rise of 0.5%;
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 September, excluding the farming industry; in the recent update for August, the number of jobs opening fell to 5.44 million; in the next report, the number is expected to bounce back to 5.67 million;
All Day: U.S. Elections: This will be the main event of the week that is likely to hype up the level of uncertainty in the markets especially considering the polls show it’s a tight race. Following the results, rest assure the high volatility in the markets isn’t likely to diminish regardless of the outcome;
23:50 – Japan’s Current Account: Back in October the current account rose to 1.98 trillion yen; and in the upcoming report is expected to remain 1.98 trillion yen;
Wednesday, November 9th
15:30 – U.S Crude Oil Stockpiles Weekly update: The EIA (Energy Information Administration) will publish its weekly report on the U.S oil and petroleum stockpiles for the week ending on November 2nd;
Thursday, November 10th
13:30 – U.S. Jobless Claims Weekly Report: This weekly report will pertain to the changes in the initial jobless claims for the week ending on November 3rd; in the upcoming report, jobless claims rose to 265K;
15:30 – EIA U.S. Natural Gas Storage: The EIA weekly report of the U.S. natural gas market will refer to the recent changes in natural gas production, storage, consumption and rates as of November 3rd;
Friday, November 11th
15:00 – UoM Consumer Sentiment (preliminary): University of Michigan will release its preliminary consumer sentiment monthly report; this survey could offer information vis-à-vis the previous developments in U.S consumers’ sentiment; based on the recent report, the sentiment index slipped to 87.9; for the upcoming report, the index is expected to rise to 87.4;
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