After last weeks' economic data and the central bank's meeting, the week ahead will be very important with other economic data, but mostly because of numerous speeches. Data in the week ahead, are includes leading indicators such as GDP, Retail Sales, and CPI from the developed economies all around the globe. Also, we have great news from IFC markets for you professional traders!
MPC Member Haskel and RBA Assist Gov Ellis will speak on Monday. RBA Governor Lowe and FOMC Members including Barkin, Bostic, and Daly on Tuesday will be watched. Williams, Bowman, Waller, and Daly, from FED and FOMC, will speek on Wednesday. Fed William and Evans speak on Thursday. ECB Lagarde, German Buba President Weidmann, Fed William, Evans, Waller, and Clarida also will be other speakers of the week that will speak on Friday. All of them are important and should be watched closely to find out the next policies of central banks, especially in these specific market conditions.
Japan's GDP - Monday
Japan's Q3 GDP report, will be out on Monday, and should confirm that it was a challenging summer for the Japanese economy. Since some parts of Japan, including Tokyo, had the COVID-19 restrictions even in the third quarter, the consensus estimate for private consumption is to fall by 0.5% and it means we can see some decline in the Japanese third-quarter economy, same as other leading economies, that we already had their GDP numbers. While with the new round of stimulus in the new administration, we are waiting to see a better situation in the last quarter, these data should not change the overall market sentiment and Nikkei 225 uptrend.
US Retail Sales and Industrial Production - Tuesday
Some factors may affect the October Retail Sales, however, increasing prices with purchasing in advance can increase the numbers. Since retail sales are reporting in nominal dollar, which is not adjusted for inflation, higher prices tend to boost the gains in spending. At the same time, supply shortage will put the consumers in hurry to do their November and December holiday shopping a bit earlier. On the production front, with supply chain shortages, overall output will likely continue to be limited, however increasing demand should continue to grow the production as well, even if at a more modest pace. These numbers are supposed to be positive for the US dollar.
UK Inflation - Wednesday
After a temporary pause in September, prices are expected to be seen higher in October. Higher energy prices are the main driver, but not the only, supply disruptions and shortages also are the other reasons to lift the prices. After increasing inflation in China, US, and Eurozone, increasing prices and inflation in the UK also is widely expected, so it should not be surprised, however, the official's reactions in their speeches to these numbers will make a difference. So, please follow the mentioned speeches and stay updated with the market.
Great news from IFC Market!
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