Week ahead: US Federal Reserve; Bank of England; European Central Bank; Costco, H&M earnings
The week starting 11 December sees three central banks meetings on interest rates amid rising market hopes that rates will soon start to fall, led by the Fed. However, a resilient US jobs market is dampening those expectations.
(Partial Video Transcript)
Just how confident is Australia?
Hello, welcome to IGTV, and this is your special edition of week ahead. We'll be looking ahead to the week starting 11 December for you. Now, it's such a lot more happening than we think as we approach the end of the year. Let's just have a look at what's in store on the economic front.
There's not a lot around on Monday. So, on Tuesday, we start off with consumer confidence numbers and business confidence numbers out of Australia. Unemployment rate numbers and the ZEW will be interesting for investors of sterling and also the euro with those two data points.
And from the US, look out for the latest consumer price print and API crude oil inventory too. Following on in the week on Wednesday, we've got monthly gross domestic product (GDP) figures out of the United Kingdom, trade balance to boost as well.
And from the euro zone, look out for industrial output numbers and producer prices out of the US as well.
The cutting game: ECB, Fed go to head-to-head
Of course, the big set piece will be the Federal Reserve (Fed) interest rate decision and what they say about the outlook, because as we all know, there's been so much enthusiasm, so much in the way of hopes of this early rate cut sometime in the beginning of 2024.
And on Thursday, look out for unemployment numbers from Australia, along with a UK interest rate decision, which we'll have Chris Beecham live with me to break that number for you.
We also have a European Central Bank (ECB) interest-rate decision as well. Many investors will be looking out for the ECB too, because there are some out there that think it's going to be a two-horse race between the ECB and the Fed. Who's going to cut first. Look out for that. Any indication of timing will be pounced on.
We've got retail sales numbers out of the US, along with business inventories too. And on Friday, we've got consumer confidence numbers out of the UK, industrial production and retail sales from China, and manufacturing and services PMIs will be the key thing to watch out for from the euro zone, the UK and Japan.
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