Next week is packed with important economic events that could impact the global markets. On Monday, the Bank of Japan will release its Summary of Opinions. Tuesday will bring key reports including the UK Labour Market report, Eurozone ZEW, US NFIB Small Business Optimism Index, and Fed’s SLOOS. Wednesday will see important data releases such as Japan PPI, Australia Wage Price Index, and US CPI. Thursday’s highlights include Australia Labour Market report, UK GDP, Eurozone Employment Change and Industrial Production, US PPI, US Jobless Claims, and a speech by Fed Chair Powell. Finally, on Friday, we will see Japan GDP, China Industrial Production and Retail Sales, US Retail Sales, US Industrial Production, and Capacity Utilization.
In the UK, the Unemployment Rate is expected to increase slightly to 4.1% while Average Earnings incl. Bonus and ex-Bonus measures are also anticipated to show growth. The market is not pricing in a rate cut by the Bank of England in December, but inflation figures will be closely watched.
Australia’s Q3 Wage Price Index is expected to show a decrease, but this is unlikely to impact the Reserve Bank of Australia’s monetary policy decisions. In the US, CPI data is expected to show slight increases, with Fed Chair Powell maintaining the possibility of a rate cut in December despite inflation bumps.
On Thursday, the Australian Labour Market report and US PPI data will be released. The market will closely monitor the US Jobless Claims, which provide real-time insights into the labor market’s health. Consumer spending trends will be in focus on Friday with the release of US Retail Sales data.
Overall, these events will offer valuable insights into the economic conditions of major global economies and could potentially impact market sentiment and trading strategies. Stay tuned for updates on how these reports unfold and their implications for investors and traders alike.
