Week ahead - 28/11/22: DAX around German CPI; easyJet earnings
As the week turns into December, we look at two trades to watch out for in the coming week: the DAX around German CPI and earnings out from easyJet. However, it’s a week in which retail sales are also out in a number of economies.
(Video Transcript)
Events to watch on 28/11
Let's take a look first of all at the economic agenda and we begin on Monday with Australian retail sales out overnight. This represents part of the Australian economy, which is beginning to show signs of strain on the consumer like a lot of Western style or developed economies, with interest rates having risen by some hefty margin. The consumer is finding the going tough.
Retail sales should give us a window into what's happening within the retail sector in Australia on Monday morning.
Then later on in the day, the Dallas Fed manufacturing index coming through in the states,
29/11
Japanese retail sales, again same sort of comment there with regard what's happening. But the difference of course is that the Japanese central bank hasn't been raising rates and still has rates at that negative 0.1%. So not the same sort of dynamic going on but nonetheless still interesting to see whether or not there is any life in the retail sector in Japan.
Then comes some of the more beefy data. We get German consumer prices, Canadian third quarter GDP, and the Conference Board consumer confidence number out in the States.
That's all on Tuesday and then followed by the american Petroleum Institute on crude oil inventories.
30/11
On the last day of november this year, we kick off overnight with news coming through from the Chinese economy with the NBS manufacturing and services PMI data.
Then later on in the day it's the last look at third quarter GDP and the French economy consumer prices as well in France, and also the CPI data out for the Eurozone as a whole.
US ADP employment change coming through the midweek trading session of course ahead of the big one out on friday from the Labour Department, this is the private payrolls number.
We also get the final look at third quarter GDP in the States, pending home sales. We get the weekly look at the EIA crude oil inventories and the Fed beige book out a little bit later on in the day.
1/12
So now kicking off a brand new month on Thursday first of December. We started overnight with Caixin manufacturing PMI data from China, German retail sales, US personal income spending, initial jobless claim, core PCI price index and the ISM manufacturing number as well in the US economy.
2/12
And to crown off the week just to look at what's happening on Friday which for me is one of the big highlights of the week.
Not German trade or Eurozone producer prices but the US Labour Department's release of the non-farm payrolls data out at 1:30pm.
IGTV will be live five minutes prior to the release of that data and we'll take a look at what the issues could be for us traders as we look at that data which is all expected to continue to paint the picture for the Fed going into the last interest rate meeting of the year on 14 December.
Then of course, as always in the end of the week, we get the Baker Hughes rig count as well.
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