Last week's economic data releases brought volatility to the financial markets. Stocks sold off following worse-than-expected PMI readings, then they got back up after Friday's huge Nonfarm payrolls beat. The price of gold rallied and then sold off. In the coming week we may see even more trading action. Especially on Wednesday. Let's take a look at the details.
The week behind
Last week's economic data releases brought volatility to financial markets. On Monday and Wednesday stocks were selling off and prices of gold, oil were gaining following weaker-than-expected PMI numbers readings. But on Friday we saw roller coaster-type ride back, as investors went risk-on again following much better than expected monthly jobs data release. Overall, our last week's Important Economic News Calendar covered the mentioned releases and it was worth paying attention to these events.
The week ahead
What about the coming week? All eyes will be on Wednesday's FOMC Rate Decision. There's no need to argue that it will be the most important piece of economic data this week. Then we will get the analogous Eurozone's rate decision on Thursday. The other market-moving releases include Tuesday's German ZEW Economic Sentiment number, Wednesday's CPI and Friday's Retail Sales. Let's take a look at key highlights:
- The markets will eagerly await Wednesday's FOMC Rate Decision release along with their Statement and Economic Projections
- On Thursday we will get the analogous ECB's Eurozone Main Refinancing Rate and Monetary Policy Statement release.
- The other worth-mentioning U.S. economic data releases will be Wednesday's Consumer Price Index and Friday's Retail Sales number.
- In Europe investors will closely watch Tuesday's German ZEW Economic Sentiment
- There will also be pretty important economic data releases in Australia on Monday and in the U.K. on Tuesday.
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, December 9
- 5:05 p.m. Australia - RBA Governor Lowe Speech
- 7:30 p.m. Australia - Mid-Year Economic and Fiscal Outlook, HPI q/q, NAB Business Confidence
- 8:30 p.m. China - CPI y/y, PPI y/y
Tuesday, December 10
- 5:00 a.m. Eurozone - German ZEW Economic Sentiment, ZEW Economic Sentiment
Wednesday, December 11
- 8:30 a.m. U.S. - CPI m/m, Core CPI m/m
- 2:00 p.m. U.S. - Federal Funds Rate, FOMC Statement, FOMC Economic Projections, Federal Budget Balance
- 2:30 p.m. U.S. - FOMC Press Conference
Thursday, December 12
- 7:45 a.m. Eurozone - Main Refinancing Rate, Monetary Policy Statement
- 8:30 a.m. U.S. - PPI m/m, Core PPI m/m, Unemployment Claims
- 8:30 a.m. Eurozone - ECB Press Conference
- 12:30 p.m. Canada - BOC Governor Poloz Speech
Friday, December 13
- 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m, Import Prices m/m
Monday, December 9
- 5:05 p.m. Australia - RBA Governor Lowe Speech
- 7:30 p.m. Australia - Mid-Year Economic and Fiscal Outlook, HPI q/q, NAB Business Confidence
- 8:30 p.m. China - CPI y/y, PPI y/y
Tuesday, December 10
- 5:00 a.m. Eurozone - German ZEW Economic Sentiment, ZEW Economic Sentiment
- 4:30 p.m. U.S. - API Weekly Crude Oil Stock
Wednesday, December 11
- 8:30 a.m. U.S. - CPI m/m, Core CPI m/m
- 8:30 a.m. Canada - Capacity Utilization Rate
- 10:30 a.m. U.S. - Crude Oil Inventories
- 2:00 p.m. U.S. - Federal Funds Rate, FOMC Statement, FOMC Economic Projections, Federal Budget Balance
- 2:30 p.m. U.S. - FOMC Press Conference
Thursday, December 12
- 7:45 a.m. Eurozone - Main Refinancing Rate, Monetary Policy Statement
- 8:30 a.m. U.S. - PPI m/m, Core PPI m/m, Unemployment Claims
- 8:30 a.m. Eurozone - ECB Press Conference
- 12:30 p.m. Canada - BOC Governor Poloz Speech
Friday, December 13
- 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m, Import Prices m/m
- 10:00 a.m. U.S. - Business Inventories m/m
Monday, December 9
- 8:30 p.m. China - CPI y/y, PPI y/y
Tuesday, December 10
- 5:00 a.m. Eurozone - German ZEW Economic Sentiment, ZEW Economic Sentiment
- 6:00 a.m. U.S. - NFIB Small Business Index
- 8:30 a.m. U.S. - Revised Nonfarm Productivity q/q, Revised Unit Labor Costs q/q
- 4:30 p.m. U.S. - API Weekly Crude Oil Stock
Wednesday, December 11
- 8:30 a.m. U.S. - CPI m/m, Core CPI m/m
- 10:30 a.m. U.S. - Crude Oil Inventories
- 2:00 p.m. U.S. - Federal Funds Rate, FOMC Statement, FOMC Economic Projections, Federal Budget Balance
- 2:30 p.m. U.S. - FOMC Press Conference
Thursday, December 12
- 7:45 a.m. Eurozone - Main Refinancing Rate, Monetary Policy Statement
- 8:30 a.m. U.S. - PPI m/m, Core PPI m/m, Unemployment Claims
- 8:30 a.m. Eurozone - ECB Press Conference
Friday, December 13
- 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m, Import Prices m/m
- 10:00 a.m. U.S. - Business Inventories m/m
- 11:00 a.m. U.S. - FOMC Member Williams Speech
Monday, December 9
- 2:00 a.m. Eurozone - German Trade Balance
- 4:30 a.m. Eurozone - Sentix Investor Confidence
- 8:30 p.m. China - CPI y/y, PPI y/y
Tuesday, December 10
- 1:30 a.m. Eurozone - French Final Private Payrolls q/q
- 2:45 a.m. Eurozone - French Industrial Production m/m
- 4:00 a.m. Eurozone - Italian Industrial Production m/m
- 4:30 a.m. U.K. - GDP m/m, Manufacturing Production m/m, Construction Output m/m, Goods Trade Balance, Index of Services 3m/3m, Industrial Production m/m
- 5:00 a.m. Eurozone - German ZEW Economic Sentiment, ZEW Economic Sentiment
- 6:00 a.m. U.S. - NFIB Small Business Index
- 8:30 a.m. U.S. - Revised Nonfarm Productivity q/q, Revised Unit Labor Costs q/q
Wednesday, December 11
- 8:30 a.m. U.S. - CPI m/m, Core CPI m/m
- 2:00 p.m. U.S. - Federal Funds Rate, FOMC Statement, FOMC Economic Projections, Federal Budget Balance
- 2:30 p.m. U.S. - FOMC Press Conference
Thursday, December 12
- 2:00 a.m. Eurozone - German Final CPI m/m
- 2:45 a.m. Eurozone - French Final CPI m/m
- 4:00 a.m. Eurozone - Italian Quarterly Unemployment Rate
- 5:00 a.m. Eurozone - Industrial Production m/m
- 7:45 a.m. Eurozone - Main Refinancing Rate, Monetary Policy Statement
- 8:30 a.m. U.S. - PPI m/m, Core PPI m/m, Unemployment Claims
- 8:30 a.m. Eurozone - ECB Press Conference
Friday, December 13
- 2:00 a.m. Eurozone - German WPI m/m
- 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m, Import Prices m/m
- 10:00 a.m. U.S. - Business Inventories m/m
- 11:00 a.m. U.S. - FOMC Member Williams Speech
Monday, December 9
- 0:00 a.m. Japan - Economy Watchers Sentiment
- 6:50 p.m. Japan - M2 Money Stock y/y
- 8:30 p.m. China - CPI y/y, PPI y/y
Tuesday, December 10
- 1:00 a.m. Japan - Preliminary Machine Tool Orders y/y
- 6:00 a.m. U.S. - NFIB Small Business Index
- 8:30 a.m. U.S. - Revised Nonfarm Productivity q/q, Revised Unit Labor Costs q/q
- 6:50 p.m. Japan - PPI y/y, BSI Manufacturing Index
Wednesday, December 11
- 8:30 a.m. U.S. - CPI m/m, Core CPI m/m
- 2:00 p.m. U.S. - Federal Funds Rate, FOMC Statement, FOMC Economic Projections, Federal Budget Balance
- 2:30 p.m. U.S. - FOMC Press Conference
- 6:50 p.m. Japan - Core Machinery Orders m/m
Thursday, December 12
- 7:45 a.m. Eurozone - Main Refinancing Rate, Monetary Policy Statement
- 8:30 a.m. U.S. - PPI m/m, Core PPI m/m, Unemployment Claims
- 8:30 a.m. Eurozone - ECB Press Conference
- 6:50 p.m. Japan - Tankan Manufacturing Index, Tankan Non-Manufacturing Index
- 11:30 p.m. Japan - Revised Industrial Production m/m
Friday, December 13
- 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m, Import Prices m/m
- 10:00 a.m. U.S. - Business Inventories m/m
- 11:00 a.m. U.S. - FOMC Member Williams Speech
Tuesday, December 10
- 4:30 a.m. U.K. - GDP m/m, Manufacturing Production m/m, Construction Output m/m, Goods Trade Balance, Index of Services 3m/3m, Industrial Production m/m
- 5:00 a.m. Eurozone - German ZEW Economic Sentiment, ZEW Economic Sentiment
Wednesday, December 11
- 8:30 a.m. U.S. - CPI m/m, Core CPI m/m
- 2:00 p.m. U.S. - Federal Funds Rate, FOMC Statement, FOMC Economic Projections, Federal Budget Balance
- 2:30 p.m. U.S. - FOMC Press Conference
- 7:01 p.m. U.K. - RICS House Price Balance
Thursday, December 12
- 7:45 a.m. Eurozone - Main Refinancing Rate, Monetary Policy Statement
- 8:30 a.m. U.S. - PPI m/m, Core PPI m/m, Unemployment Claims
- 8:30 a.m. Eurozone - ECB Press Conference
- All Day, U.K. - Parliamentary Elections
Friday, December 13
- 4:30 a.m. U.K. - Consumer Inflation Expectations
- 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m, Import Prices m/m
- 9:30 a.m. U.K. - CB Leading Index m/m
- 10:00 a.m. U.S. - Business Inventories m/m
- 11:00 a.m. U.S. - FOMC Member Williams Speech
Monday, December 9
- 8:15 a.m. Canada - Housing Starts
- 8:30 a.m. Canada - Building Permits m/m
- 8:30 p.m. China - CPI y/y, PPI y/y
Tuesday, December 10
- 4:30 p.m. U.S. - API Weekly Crude Oil Stock
Wednesday, December 11
- 8:30 a.m. U.S. - CPI m/m, Core CPI m/m
- 8:30 a.m. Canada - Capacity Utilization Rate
- 10:30 a.m. U.S. - Crude Oil Inventories
- 2:00 p.m. U.S. - Federal Funds Rate, FOMC Statement, FOMC Economic Projections, Federal Budget Balance
- 2:30 p.m. U.S. - FOMC Press Conference
Thursday, December 12
- 7:45 a.m. Eurozone - Main Refinancing Rate, Monetary Policy Statement
- 8:30 a.m. U.S. - PPI m/m, Core PPI m/m, Unemployment Claims
- 8:30 a.m. Eurozone - ECB Press Conference
- 8:30 a.m. Canada - NHPI m/m
- 12:30 p.m. Canada - BOC Governor Poloz Speech
Friday, December 13
- 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m, Import Prices m/m
- 10:00 a.m. U.S. - Business Inventories m/m
- 11:00 a.m. U.S. - FOMC Member Williams Speech
Monday, December 9
- 5:05 p.m. Australia - RBA Governor Lowe Speech
- 7:30 p.m. Australia - Mid-Year Economic and Fiscal Outlook, HPI q/q, NAB Business Confidence
- 8:30 p.m. China - CPI y/y, PPI y/y
- 9:45 p.m. Australia - RBA Assistant Governor Bullock Speech
Tuesday, December 10
- 4:30 p.m. U.S. - API Weekly Crude Oil Stock
- 6:30 p.m. Australia - Westpac Consumer Sentiment
Wednesday, December 11
- 8:30 a.m. U.S. - CPI m/m, Core CPI m/m
- 10:30 a.m. U.S. - Crude Oil Inventories
- 2:00 p.m. U.S. - Federal Funds Rate, FOMC Statement, FOMC Economic Projections, Federal Budget Balance
- 2:30 p.m. U.S. - FOMC Press Conference
- 7:00 p.m. Australia - MI Inflation Expectations
- 7:30 p.m. Australia - RBA Bulletin
Thursday, December 12
- 7:45 a.m. Eurozone - Main Refinancing Rate, Monetary Policy Statement
- 8:30 a.m. U.S. - PPI m/m, Core PPI m/m, Unemployment Claims
- 8:30 a.m. Eurozone - ECB Press Conference
Friday, December 13
- 8:30 a.m. U.S. - Retail Sales m/m, Core Retail Sales m/m, Import Prices m/m
- 10:00 a.m. U.S. - Business Inventories m/m
- 11:00 a.m. U.S. - FOMC Member Williams Speech
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Thank you.
Paul Rejczak
Stock Trading Strategist
Sunshine Profits - Effective Investments through Diligence and Care
