This week, various significant events are expected to take place that could impact the global market. Here is a breakdown of what to look out for:
Monday: People’s Bank of China (PBoC) is anticipated to reduce the Loan Prime Rate (LPR) by 20 basis points. This decision aims to strike a balance between investment and consumption in response to China’s deflationary concerns.
Wednesday: The Bank of Canada is likely to cut interest rates by 50 basis points, bringing the policy rate to 3.75%. This move follows weaker-than-expected inflation data and signals a possible additional 25 basis points cut in December.
Thursday: Flash Purchasing Managers’ Index (PMI) reports will be released for major economies like the Eurozone, UK, and US. These reports provide insights into the manufacturing and services sectors’ performance, influencing market sentiment.
Thursday: Another crucial release is the US Jobless Claims data, offering real-time insights into the labor market’s health. The figures are expected to remain within the 200K-260K range, reflecting the ongoing impact of external factors like hurricanes and strikes.
Friday: Keep an eye on the Tokyo Core Consumer Price Index (CPI) Year-over-Year data, which is a leading indicator for Japan’s national CPI. The Bank of Japan’s stance on price risks and potential rate hikes in 2025 will also be closely watched based on upcoming economic data.
As investors and traders navigate these events, market volatility and trading opportunities are likely to arise. Stay informed and prepared to make informed decisions based on the outcomes of these key events.
