Week ahead: NVIDIA; Fed speakers; US housing starts; PMIs
After an eventful week when the Dow briefly crossed the 40,000 milestone, traders now brace for a week rammed with Fed speakers, global manufacturing and services flash PMIs and housing starts for clues on Fed rate cuts timing.
NVIDIA is the key US earnings event. The retail earnings theme continues with numbers from Target, Kingfisher, and Marks & Spencer.
(Partial Video Transcript)
Packed week of ecomonic data ahead
Angeline Ong: Welcome to IG and this is your special look ahead to the coming week. Plenty to chew the fat on in the coming week but really it's all about the FOMC minutes. We've got Fed speakers out there. NVIDIA the big one to show you day by day. Monday we've got the loan primaries in China along with PPI from Germany.
And then on Tuesday, along with the Fed speakers, we also have the RBA minutes from Australia. Consumer confidence there, too. The trade balance of the eurozone will be interesting in a time when the ECB might act before the Fed. At least that's the thinking of the markets at the moment. But we also have CPI out of Canada and API crude oil inventories from the US.
Midweek it's the turn of the the New Zealand Central Bank out with its interest rate decision, but really a lot of the focus will be on the UK Consumer Price Index, the PPI, the RPI inflation figures that are being eyed given the Bank of England is also expected at the moment to perhaps cut rates before the Fed. We've got Japan trade balance and machinery orders and existing home sales from the US and EIA crude oil inventories.
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