The global financial markets barely moved last week as economic data releases didn't bring any meaningful surprises. So will the Thanksgiving holiday week bring volatility to the financial markets? Actually, we may see some market movements in the first half of this week. Let's take a look at the details.
The week behind
Last week's economic data releases had a rather limited impact on the financial markets. However, we saw some increased intraday to short-term volatility following Wednesday's and Friday's releases. Overall, it was worth watching the Wednesday's FOMC Meeting Minutes release as stocks rebounded sharply off their intraday lows. And we did mention that data release in our last week's Important Economic News Calendar. Then Friday was indeed data-heavy in Europe, as the releases pushed Euro and the price gold lower at the end of the week.
The week ahead
What about the coming week? Thursday and Friday will be all about the Thanksgiving holiday break. But first, we will have Consumer Confidence, GDP and Chicago PMI releases on Tuesday and Wednesday. So we may see some market movements in the first half of the week. Additionally, forex traders will likely await economic data releases from Australia and Canada. Let's take a look at key highlights:
- The main economic data releases of the coming week will be Tuesday's Conference Board Consumer Confidence and Wednesday's Preliminary GDP and Chicago PMI numbers.
- We will also have some pretty important economic data releases from Australia and Canada this week.
- The Thanksgiving holiday weekend will probably decrease global financial markets volatility on Thursday and Friday.
You will find this week's the key news releases below (EST time zone). For your convenience, we broken them down per market to which they are particularly important, so that you know what to pay extra attention to, if you have or plan to have positions in one of them. Moreover, we put the particularly important news in bold. This kind of news is what is more likely to trigger volatile movements. The news that are not in bold usually don't result in bigger intraday moves, so unless one is engaging in a particularly active form of day trading, it might be best to focus on the news that we put in bold. Of course, you are free to use the below indications as you see fit. As far as we are concerned, we are usually not engaging in any day trading during days with "bold" events on a given market. However, in case of more medium-term trades, we usually choose to be aware of the increased intraday volatility, but not change the currently opened position.
Gold, Silver, and Mining Stocks
Monday, November 25
- 6:50 p.m. Australia - RBA Deputy Governor Debelle Speech
Tuesday, November 26
- 4:05 a.m. Australia - RBA Governor Lowe Speech
- 10:00 a.m. U.S. - CB Consumer Confidence, Richmond Manufacturing Index, New Home Sales
- 7:30 p.m. Australia - Construction Work Done q/q
Wednesday, November 27
- 8:30 a.m. U.S. - Preliminary GDP q/q, Durable Goods Orders m/m, Core Durable Goods Orders m/m, Unemployment Claims
- 9:45 a.m. U.S. - Chicago PMI
- 10:00 a.m. U.S. - Personal Spending m/m, Personal Income m/m, Core PCE Price Index m/m, Pending Home Sales m/m
- 2:00 p.m. U.S. - Beige Book
- 7:30 p.m. Australia - Private Capital Expenditure q/q
Thursday, November 28
- All Day U.S. - Thanksgiving Day
Friday, November 29
- 3:55 a.m. Eurozone - German Unemployment Change
- 5:00 a.m. Eurozone - CPI Flash Estimate y/y, Core CPI Flash Estimate y/y, Unemployment Rate, Italian Preliminary CPI m/m
- 8:30 a.m. Canada - GDP m/m, RMPI m/m, IPPI m/m
- 8:00 p.m. China - Manufacturing PMI, Non-Manufacturing PMI
Monday, November 25
- 6:50 p.m. Australia - RBA Deputy Governor Debelle Speech
Tuesday, November 26
- 4:05 a.m. Australia - RBA Governor Lowe Speech
- 10:00 a.m. U.S. - CB Consumer Confidence, Richmond Manufacturing Index, New Home Sales
- 4:30 p.m. U.S. - API Weekly Crude Oil Stock
- 7:30 p.m. Australia - Construction Work Done q/q
Wednesday, November 27
- 8:30 a.m. U.S. - Preliminary GDP q/q, Durable Goods Orders m/m, Core Durable Goods Orders m/m, Unemployment Claims
- 9:45 a.m. U.S. - Chicago PMI
- 10:00 a.m. U.S. - Personal Spending m/m, Personal Income m/m, Core PCE Price Index m/m, Pending Home Sales m/m
- 10:30 a.m. U.S. - Crude Oil Inventories
- 2:00 p.m. U.S. - Beige Book
- 7:30 p.m. Australia - Private Capital Expenditure q/q
Thursday, November 28
- All Day U.S. - Thanksgiving Day
Friday, November 29
- 3:55 a.m. Eurozone - German Unemployment Change
- 5:00 a.m. Eurozone - CPI Flash Estimate y/y, Core CPI Flash Estimate y/y, Unemployment Rate, Italian Preliminary CPI m/m
- 8:30 a.m. Canada - GDP m/m, RMPI m/m, IPPI m/m
8:00 p.m. China - Manufacturing PMI, Non-Manufacturing PMI
Monday, November 25
- 4:00 a.m. Eurozone - German Ifo Business Climate
Tuesday, November 26
- 2:00 a.m. Eurozone - German GfK Consumer Climate
- 9:00 a.m. U.S. - HPI m/m, S&P/CS Composite-20 HPI y/y
- 10:00 a.m. U.S. - CB Consumer Confidence, Richmond Manufacturing Index, New Home Sales
- 4:30 p.m. U.S. - API Weekly Crude Oil Stock
Wednesday, November 27
- 2:00 a.m. Eurozone - German Import Prices m/m
- 8:30 a.m. U.S. - Preliminary GDP q/q, Durable Goods Orders m/m, Core Durable Goods Orders m/m, Unemployment Claims
- 9:45 a.m. U.S. - Chicago PMI
- 10:00 a.m. U.S. - Personal Spending m/m, Personal Income m/m, Core PCE Price Index m/m, Pending Home Sales m/m
- 10:30 a.m. U.S. - Crude Oil Inventories
- 2:00 p.m. U.S. - Beige Book
- 6:50 p.m. Japan - Retail Sales y/y
Thursday, November 28
- 3:00 a.m. Eurozone - Spanish Flash CPI y/y
- 4:00 a.m. Eurozone - M3 Money Supply y/y, Private Loans y/y
- All Day U.S. - Thanksgiving Day
Friday, November 29
- 3:55 a.m. Eurozone - German Unemployment Change
- 5:00 a.m. Eurozone - CPI Flash Estimate y/y, Core CPI Flash Estimate y/y, Unemployment Rate, Italian Preliminary CPI m/m
- 8:00 p.m. China - Manufacturing PMI, Non-Manufacturing PMI
Monday, November 25
- 4:00 a.m. Eurozone - German Ifo Business Climate
- 9:00 a.m. Eurozone - Belgian NBB Business Climate
Tuesday, November 26
- 2:00 a.m. Eurozone - German GfK Consumer Climate
- 9:00 a.m. U.S. - HPI m/m, S&P/CS Composite-20 HPI y/y
- 10:00 a.m. U.S. - CB Consumer Confidence, Richmond Manufacturing Index, New Home Sales
- 4:30 p.m. U.S. - API Weekly Crude Oil Stock
Wednesday, November 27
- 2:00 a.m. Eurozone - German Import Prices m/m
- 8:30 a.m. U.S. - Preliminary GDP q/q, Durable Goods Orders m/m, Core Durable Goods Orders m/m, Unemployment Claims
- 9:45 a.m. U.S. - Chicago PMI
- 10:00 a.m. U.S. - Personal Spending m/m, Personal Income m/m, Core PCE Price Index m/m, Pending Home Sales m/m
- 10:30 a.m. U.S. - Crude Oil Inventories
- 2:00 p.m. U.S. - Beige Book
Thursday, November 28
- 3:00 a.m. Eurozone - Spanish Flash CPI y/y
- 4:00 a.m. Eurozone - M3 Money Supply y/y, Private Loans y/y
- All Day U.S. - Thanksgiving Day
Friday, November 29
- 2:00 a.m. Eurozone - German Retail Sales m/m
- 2:45 a.m. Eurozone - French Consumer Spending m/m, French Preliminary GDP q/q, French Preliminary CPI m/m
- 3:55 a.m. Eurozone - German Unemployment Change
- 4:00 a.m. Eurozone - Italian Monthly Unemployment Rate
- 5:00 a.m. Eurozone - CPI Flash Estimate y/y, Core CPI Flash Estimate y/y, Unemployment Rate, Italian Preliminary CPI m/m
- 8:00 p.m. China - Manufacturing PMI, Non-Manufacturing PMI
Monday, November 25
- 6:50 p.m. Japan - Corporate Services Price Index (CSPI) y/y
Tuesday, November 26
- 0:00 a.m. Japan - BOJ Core CPI y/y
- 9:00 a.m. U.S. - HPI m/m, S&P/CS Composite-20 HPI y/y
- 10:00 a.m. U.S. - CB Consumer Confidence, Richmond Manufacturing Index, New Home Sales
Wednesday, November 27
- 8:30 a.m. U.S. - Preliminary GDP q/q, Durable Goods Orders m/m, Core Durable Goods Orders m/m, Unemployment Claims
- 9:45 a.m. U.S. - Chicago PMI
- 10:00 a.m. U.S. - Personal Spending m/m, Personal Income m/m, Core PCE Price Index m/m, Pending Home Sales m/m
- 2:00 p.m. U.S. - Beige Book
- 6:50 p.m. Japan - Retail Sales y/y
Thursday, November 28
- 6:30 p.m. Japan - Unemployment Rate, Tokyo Core CPI y/y, Preliminary Industrial Production m/m
- All Day U.S. - Thanksgiving Day
Friday, November 29
- 0:00 a.m. Japan - Consumer Confidence, Housing Starts y/y
- 8:00 p.m. China - Manufacturing PMI, Non-Manufacturing PMI
Monday, November 25
- 6:00 a.m. U.K. - CBI Realized Sales
Tuesday, November 26
- 4:30 a.m. U.K. - High Street Lending
- 8:30 a.m. U.S. - Goods Trade Balance, Preliminary Wholesale Inventories m/m
- 9:00 a.m. U.S. - HPI m/m, S&P/CS Composite-20 HPI y/y
- 10:00 a.m. U.S. - CB Consumer Confidence, Richmond Manufacturing Index, New Home Sales
- 7:01 p.m. U.K. - BRC Shop Price Index y/y
Wednesday, November 27
- 8:30 a.m. U.S. - Preliminary GDP q/q, Durable Goods Orders m/m, Core Durable Goods Orders m/m, Unemployment Claims
- 9:45 a.m. U.S. - Chicago PMI
- 10:00 a.m. U.S. - Personal Spending m/m, Personal Income m/m, Core PCE Price Index m/m, Pending Home Sales m/m
- 2:00 p.m. U.S. - Beige Book
- Tentative U.K. - BoE MPC Treasury Committee Hearings
Thursday, November 28
- 7:01 p.m. U.K. - GfK Consumer Confidence
- All Day U.S. - Thanksgiving Day
Friday, November 29
- 4:30 a.m. U.K. - M4 Money Supply m/m, Mortgage Approvals, Net Lending to Individuals m/m
- 5:00 a.m. Eurozone - CPI Flash Estimate y/y, Core CPI Flash Estimate y/y, Unemployment Rate, Italian Preliminary CPI m/m
- 8:00 p.m. China - Manufacturing PMI, Non-Manufacturing PMI
Monday, November 25
- 8:30 a.m. Canada - Wholesale Sales m/m
Tuesday, November 26
- 8:30 a.m. U.S. - Goods Trade Balance, Preliminary Wholesale Inventories m/m
- 8:30 a.m. Canada - Corporate Profits q/q
- 9:00 a.m. U.S. - HPI m/m, S&P/CS Composite-20 HPI y/y
- 10:00 a.m. U.S. - CB Consumer Confidence, Richmond Manufacturing Index, New Home Sales
- 4:30 p.m. U.S. - API Weekly Crude Oil Stock
Wednesday, November 27
- 8:30 a.m. U.S. - Preliminary GDP q/q, Durable Goods Orders m/m, Core Durable Goods Orders m/m, Unemployment Claims
- 9:45 a.m. U.S. - Chicago PMI
- 10:00 a.m. U.S. - Personal Spending m/m, Personal Income m/m, Core PCE Price Index m/m, Pending Home Sales m/m
- 10:30 a.m. U.S. - Crude Oil Inventories
- 2:00 p.m. U.S. - Beige Book
Thursday, November 28
- 8:30 a.m. Canada - Current Account
- All Day U.S. - Thanksgiving Day
Friday, November 29
- 8:30 a.m. Canada - GDP m/m, RMPI m/m, IPPI m/m
- 8:00 p.m. China - Manufacturing PMI, Non-Manufacturing PMI
Monday, November 25
- 6:50 p.m. Australia - RBA Deputy Governor Debelle Speech
Tuesday, November 26
- 4:05 a.m. Australia - RBA Governor Lowe Speech
- 9:00 a.m. U.S. - HPI m/m, S&P/CS Composite-20 HPI y/y
- 10:00 a.m. U.S. - CB Consumer Confidence, Richmond Manufacturing Index, New Home Sales
- 4:30 p.m. U.S. - API Weekly Crude Oil Stock
- 7:30 p.m. Australia - Construction Work Done q/q
Wednesday, November 27
- 8:30 a.m. U.S. - Preliminary GDP q/q, Durable Goods Orders m/m, Core Durable Goods Orders m/m, Unemployment Claims
- 9:45 a.m. U.S. - Chicago PMI
- 10:00 a.m. U.S. - Personal Spending m/m, Personal Income m/m, Core PCE Price Index m/m, Pending Home Sales m/m
- 10:30 a.m. U.S. - Crude Oil Inventories
- 2:00 p.m. U.S. - Beige Book
- 7:30 p.m. Australia - Private Capital Expenditure q/q
Thursday, November 28
- 7:30 p.m. Australia - Private Sector Credit m/m
- All Day U.S. - Thanksgiving Day
Friday, November 29
- 8:00 p.m. China - Manufacturing PMI, Non-Manufacturing PMI
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Thank you.
Paul Rejczak
Stock Trading Strategist
Sunshine Profits - Effective Investments through Diligence and Care
