Review of economic calendar for the next week (Nov 13 - Nov 17)

Monday – 11/13/2017

Bank of Japan Governor Haruhiko Kuroda is going to speak at 18:45 GMT this Monday. Last week, he showed up his optimism on Japan’s economic growth outlook, suggesting that there will likely be more hawkish clues dropped in the forthcoming speech. Given any aggressive hints, traders can look to go short the cross – JPY currency pairs.

Tuesday - 11/14/2017

A string of speeches from central bank’s bosses will be in focus on Tuesday, all come in at 11:00 GMT. Our anticipation is as follows:

  • European Central Bank President Draghi’s conference will likely take place wavelessly because the ECB had plans to recalibrate interest rates by January 2018, therefore, there are minimal expectations for hawkish moves in this meeting.
  • Bank of England Gov Carney is likely to offer more clues about the next steps for monetary policy since the UK economy stands at risk of record high inflation.
  • Bank of Japan’s Kuroda may follow his Monday tone. If hawkish hints are dropped on Monday, trader’s expectations can continue to be reinforced on Tuesday.
  • The Fed is going to have a new president in the coming months, hence, monetary policy tightening plans may continue as established.
On the same day, there are other significant economic releases as follows:

  • China’s Industrial Production y/y coming in at 3:00 GMT is anticipated to decline to 6.3% versus its previous announcement of 6.6%.
  • U.K. CPI is going to be divulged at 10:30 GMT. Economists predict the figure to ascend to 3.1% from the 3.0% level.
  • U.S. PPI m/m will be confirmed at 14:30 GMT with forecasts that it will decrease to 0.1% from the prior report of 0.4%. We suggest buying the GBP/USD exchange if the PPI data is worse than foreseen.
Wednesday - 11/15/2017

Market participants will pay attention to the Greenback largely due to three U.S. crucial announcements broadcast. U.S. CPI rate is predicted to fall to 0.1% against the previous 0.5%, while the Core CPI m/m could possibly climb to 0.2% from its last broadcast of 0.1%. Notably, the Retail Sales m/m is forecasted to plunge by 1.6% back to the 0.0%. Traders can watch to buy the cross – US dollar pairs if bad news comes to the U.S. economy.

Nov 15 will also see U.K. Average Earnings Index 3m/y be affirmed at 10:30 GMT. Analysts forecast the data to slightly move lower to 2.1% versus its October rate of 2.2%.

Thursday - 11/16/2017

Both Australia’s Employment Change and Unemployment Rate will print at 1:30 GMT. The Employment figure is predicted to down to 18.9K from the last report of 19.8K, while the Unemployment Rate may remain at 5.5%.

In a separate development, UK’s Retail Sales confirmed at 10:30 GMT could strongly increase to 0.2% from the negative number of -0.8% announced in October, driving the Sterling higher versus its crosses.
U.S. Unemployment Claims data is going to be broadcast at 14:30 GMT, expected to gently change to 236K versus its last 239K. The US Dollar will likely remain steady on the outcome.

Friday - 11/17/2017

ECB President Draghi will have another talk on Friday. As we have mentioned, don’t expect fireworks.

Both Canada’s CPI and U.S. Building Permits will be released at 14:30 GMT. The CPI rate is forecasted to slide to 0.1% against the 0.2% level, while the Building Permits data may rise to 1.25M from its October figure of 1.23M.
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