Look ahead 16/11/23: US trade; Australia jobless rate; Siemens; Burberry; Walmart
US trade and industrial production data give further clues as to whether or not a May US rate cut is increasingly on the Fed’s cards.
The Australian dollar is in focus ahead of the latest jobless rate print. Plus, Siemens reports after Siemens Energy said it will look into the structure of Siemens Gamesa. In retail, watch out for earnings from Burberry and Walmart.
(AI Video Summary)
Australia's rising unemployment rate
The unemployment rate in Australia is expected to go up next month, and this is affecting the Australian dollar and New Zealand dollar. Investors think that the US will be cutting interest rates next year, which is causing global bond yields to go down. This is also impacting the US dollar because the recent inflation numbers were lower than expected. As a result, people don't think there will be another interest rate hike in December, and instead, they are betting on a rate cut in May.
Overview of what's to come
In the US, there will be several important pieces of data released on Thursday, such as import and export prices, jobless claims, industrial production, and housing market data. The housing market has been unstable lately, so investors are watching this data closely to see if there are any signs of recovery.
Additionally, some companies like Burberry Group PLC and International Distribution Services will be reporting their earnings. Burberry's stock has been going down recently, which is similar to other luxury brands like LVMH Moet Hennessy Louis Vuitton SA, Hermès, and Gucci. Siemens Energy will be sharing their full-year results, and their stock went up when they announced they would review a troubled unit.
In the US, the retail sector is also in focus with companies like Walmart, Gap, and Macy's reporting their third quarter numbers. Walmart is expected to have a 4.4% increase in sales and is trying to attract customers with prepackaged Thanksgiving meals and lower-priced ingredients. They also plan to remodel their stores as part of a big renovation plan. Walmart's stock has already gone up a little bit because Target had positive expectations. All of these events and data releases will impact the markets and how investors feel.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Act on share opportunities today
Go long or short on thousands of international stocks with spread bets and CFDs.
- Get full exposure for a comparatively small deposit
- Trade on spreads from just 0.1%
- Get greater order book visibility with direct market access
See opportunity on a stock?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Take your position
- See whether your hunch pays off
See opportunity on a stock?
Don’t miss your chance – upgrade to a live account to take advantage.
- Trade a huge range of popular stocks
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See opportunity on a stock?
Don’t miss your chance. Log in to take advantage while conditions prevail.
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
