In the week that ended on November 11, 2016, American elected Donald Trump as the country’s 45th President. His shock victory surprised the markets across the world, causing the benchmark indices in Asia to slide. The dollar and Mexican peso lost a lot of ground. However, Trump’s conciliatory acceptance speech along with other reasons helped the greenback to bounce back, trumping most of the world currencies. The pound also made a great deal of gains. Some of the key events scheduled for next week that are expected to create some significant price movements in the market are listed below:
#1: Japan Preliminary GDP (11/13/2016 Sunday 23:50 GMT)
Japan’s economy expanded by 0.2 percent in the second quarter. The figure for the quarter was revised upward from the initial estimate which showed stagnation. Forecast for third quarter: 0.2 percent.
#2: China Industrial Production (11/14/2016 Monday 1:00 GMT)
China’s industrial production rose 6.1 percent in September from a year ago, representing a slow down from the 6.3 percent increase in August. The reading for September missed analysts’ expectations of a gain of 6.4 percent. Forecast for October: 6.2 percent.
#3: European Central Bank President Mario Draghi Speaks (11/14/2016 Monday 14:00 GMT)
Mario Draghi, president of the European Central Bank, is scheduled to speak in Rome at the Italian Treasury. Markets often experience volatility during his speeches because traders try to decipher clues on interest rate decisions in the future.
#4: New Zealand Retail Sales (11/14/2016 Monday 20:45 GMT)
New Zealand’s retail sales rose by 2.3 percent in the second quarter compared to the upwardly revised 1 percent increase in the previous quarter. The reading for the second quarter beat analysts’ expectation of an increase of 0.9 percent. Forecast for third quarter: 0.8 percent.
#5: Australia Monetary Policy Meeting Minutes (11/14/2016 Monday 23:30 GMT)
Two weeks after the announcement of the cash rate, the Reserve Bank of Australia releases the minutes of the monetary policy meeting. It provides in-depth insight into the conditions that influenced the interest rate decision.
#6: Germany Preliminary GDP (11/15/2016 Tuesday 6:00 GMT)
Germany’s economy expand 0.4 percent in the second quarter on a seasonally-adjusted basis, representing a slowdown from the 0.7 percent expansion recorded in the previous quarter. However, the data matched preliminary estimates. Forecast for the third quarter: 0.3 percent.
#7: Reserve Bank of Australia Governor Philip Lowe Speaks (11/15/2016 Tuesday 7:15 GMT)
Philip Lowe, governor of Reserve Bank of Australia, is scheduled to speak at the Committee for Economic Development of Australia Annual Dinner in Melbourne. Markets generally remain volatile during his speeches because traders make an attempt to future course of interest rate decisions.
#8: UK CPI (11/15/2016 Tuesday 8:30 GMT)
Consumer prices in the UK rose by 1 percent in September on year-on-year basis, after recording a 0.6 percent increase in the previous month. The reading for September, which beat market expectations for a gain of 0.9 percent, was the highest reading since November 2014. Forecast for October: 1.1 percent.
#9: UK Inflation Report Hearings (11/15/2016 Tuesday 9:00 GMT)
Bank of England governor and many MPC members are due to testify on economic outlook and inflation before the Treasury Committee of the Parliament. These hearings often create market volatility because of the direct comments about the currency markets that the speakers make and subtle clues as regards future monetary policy decisions.
#10: US Retail Sales/Core Retail Sales (11/15/2016 Tuesday 12:30 GMT)
In the United States, retail sales increased by 0.6 percent in September from the previous month. The reading for August was revised upward to a decline of 0.2 percent. The reading for September was in line with analysts’ expectations. Forecast for October: 0.6 percent.
Core retail sales rose 0.5 percent following the 0.2 percent drop in August. Forecast for October: 0.5 percent.
#11: New Zealand GDT Price Index (11/15/2016 Tuesday i14:00 GMT)
The GDT Price Index reported on November 01, 2016 showed that the average price of dairy products sold at auction increased by 11.4 percent against the market expectation of a 1.4 percent gain.
#12: UK Average Earnings Index (11/16/2016 Wednesday 8:30 GMT)
In the three months to August, the average weekly earnings in the UK, which includes the bonuses, rose by 2.3 percent on year-on-year basis to £504, in line with analysts’ expectations, after the figure for the previous period was revised upward to a gain of 2.4 percent. Forecast for September: 2.3 percent.
#13: Claimant Count Change (11/16/2016 Wednesday 8:30 GMT)
In the UK, the number of people that claimed for unemployment benefits rose by 700 in September after the reading for the previous month was revised upward to 7,100. The reading for September was much below the market expectation that the claimant count would increase by 3,000.
#14: Canada Manufacturing Sales (11/16/2016 Wednesday 12:30 GMT)
Canada’s manufacturing sales rose by 0.9 percent in August from the previous month. This is the third consecutive month of sales growth. Market expected an increase of 0.3 percent. In July, manufacturing sales rose by 0.1 percent. Forecast for September: -0.2 percent.
#15: US PPI (11/16/2016 Wednesday 12:30 GMT)
Producer prices index, representing the final demand, rose 0.3 percent in September on month-over-month basis after recording a flat reading in the previous month. The reading for September came in better than the market expectation for an increase 0.2 percent. Forecast for October: 0.3 percent.
#16: US Crude Oil Inventories (11/16/2016 Wednesday 14:30 GMT)
Crude oil stocks increased by 2.4 million barrels in the week ended November 4, 2016 to 485.0 million after the stocks rose by as many as 14.4 million barrel in the previous reporting period.
#17: New Zealand PPI Input (11/16/2016 Wednesday 20:45 GMT)
In the second quarter, input producer prices rose by 0.9 percent because of higher electricity and fuel costs, following a 1 percent decline in the previous quarter.
#18: Australia Employment Change/Unemployment Rate (11/16/2016 Wednesday 23:30 GMT)
In Australia, the availability of jobs decreased by 9,800 to 11.95 million in September from the previous month. Unemployment rate declined by 0.1 points to 5.6 percent. Forecast for October: a gain of 20,300 jobs and 0.1 percent increase in unemployment rate to 5.7 percent.
#19: UK Retail Sales (11/17/2016 Thursday 8:30 GMT)
Retail sales remained unchanged for the second month in a row in September and missed analysts’ expectation for a 0.4 percent increase. Forecast for October: 0.5 percent increase.
#20: US Building Permits (11/17/2016 Thursday 12:30 GMT)
The number of building Permits issued in the US rose by 6.3 percent to 1,225,000 in September on month-over-month basis, recording the highest reading since November 2015. The reading for September came in much better than the market expectation of 1,165,000. Forecast for October: 1,160,000.
#21: US CPI/Core CPI (11/17/2016 Thursday 12:30 GMT)
In September, the CPI rose by 0.3 percent on a seasonally-adjusted basis, according to the U.S. Bureau of Labor Statistics. The core CPI rose by 0.1 percent, following a 0.3 percent gain in the previous month. Forecast for October: CPI and core CPI are expected to increase by 0.4 percent and 0.2 percent respectively.
#22: US Philadelphia Fed Manufacturing Index (11/17/2016 Thursday 12:30 GMT)
In October, the Philly Fed Manufacturing Index declined to 9.7 from 12.8 in the previous moth. However, the data for September came in above the 5.3 reading that the analysts expected. Forecast for November: 8.1.
#23: US Unemployment Claims (11/17/2016 Thursday 12:30 GMT)
The number of American people filing for jobless benefits decreased by 11,000 to 254,000 in the week that ended November 5, 2016 from the unrevised 265,000 for the previous week. However, the reading was below analysts’ expectation that 260,000 people would file for unemployment benefits. This is the lowest reading in the last four weeks. Forecast for the next reporting period: 257,000.
#24: US Federal Reserve Chairman Janet Yellen Testifies (11/17/2016 Thursday 14:00 GMT)
Janet Yellen, chairman of the Federal Reserve, is scheduled to testify in Washington DC, before the Joint Economic Committee, about economic outlook. There are two parts to the testimony: reading of a prepared statement and a question-answer session. Market volatility can be expected as traders look for clues on interest rate decisions in the future.
#25: ECB President Mario Draghi Speaks (11/18/2016 Friday 7:00 GMT)
Mario Draghi, president of ECB, is scheduled to speak at the Euro Finance Week, in Frankfurt. Volatility can be expected.
#26: Canada Core CPI (11/18/2016 Friday 12:30 GMT)
In Canada, the consumer price index rose by 0.2 percent in September from the previous month. The reading was in line with analysts’ expectation. Forecast for October: 0.3 percent.