Week ahead 7/11/22: US inflation; PSN earnings
With the Federal Reserve remaining in hawkish mood and the recent US jobs data showing still hot recruitment, we look at US CPI data, and analyse a trade around EUR/USD.
Meanwhile US earnings continue with the likes of Disney, Lyft, and Beyond Meat, but it is the house building sector we look at, with a third quarter (Q3) update from Persimmon.
(Partial video transcript)
The week ahead
Let's take a look at some of the events to watch out for for the week starting 7 November.
07/11
We start off first thing Monday morning with trade numbers out from China. We know that the Chinese economy is showing signs of slowing down because of the zero-Covid policy, but that now seems possibly to be beginning to be unwound. And we are looking at some sort of an announcement at some point to suggest that China is beginning to soften that approach and then it might free up some of the market movements.
It won't be seen in these trade numbers, but it'll be interesting to see just whether or not China does deliver any more detail on this idea that becoming more tolerant about Covid.
We've got German industrial production figures out at seven o'clock in the morning UK time. S&P global construction PMI data also, the UK Halifax House Price index is out on Monday and is expected to show that they're seeing a further softening in British house prices.
08/11
We start off talking about retail sales monitor, another number that could show some softening. We know from what's been evident from the Bank of England (BoE) recently that we are seeing a little bit of a downturn in the economy developing into what the Bank of England says will be a prolonged contraction, showing this GDP down and this is going to be seen doubtless in some negative numbers coming through in all sorts of parts of the economy, including retail sales.
We've got Eurozone retail sales as well a little bit later in the morning and the American Petroleum Institute comes through with its weekly Parliamentary uplate on Tuesday.
08/11
Australia overnight producing Westpac consumer confidence numbers were business confidence numbers out of the National Australia Bank as well. Chinese consumer prices and producer prices as well produced overnight.
And also looking ahead to the crude oil inventories and wholesale imagery is out in the States.
09/11
As we tip into Thursday the US consumer crisis and also initial jobless claims and just a quick reminder as well, we're getting back to normal in terms of the release times of these data points out in the US cecause it changes into the winter timetable. So it then means we're then back up that five hour time difference between us here in the UK and the eastern seaboard in the States.
UK third quarter GDP out at seven o'clock in the morning and industrial production numbers.
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