The main focus of investors this week will be the US inflation data and the results of the midterm elections. US inflation data on Thursday could bring some insight into when the Federal Reserve might start slowing the rate hikes. There will be a midterm election in the United States on Tuesday. Many traders underestimate this election, but this event could lead to a split in the US government. There will also be a lot of central bankers' speeches this week to keep an eye on. The week will end with important data on UK GDP.
Monday, November 07
On Monday, investors should be attentive to the economic data from China. Weak data could cause Asian indices to sell off. Investors should also keep an eye on the speech by ECB
Main events of the day:
- – China Exports (m/m) at 05:00 (GMT+2);
- – China Imports (m/m) at 05:00 (GMT+2);
- – Switzerland Unemployment Rate (m/m) at 08:45 (GMT+2);
- – German Industrial Production (m/m) at 09:00 (GMT+2);
- – Eurozone ECB President Lagarde Speaks at 10:40 (GMT+2);
- – US FOMC Member Mester Speaks at 22:40 (GMT+2).
Tuesday, November 08
The main event on Tuesday will be the midterm elections for the US Congress. Republicans are leading in the polls, and many analysts believe the likely result will be a split government, with the Republican Party controlling the House and possibly the Senate in the second half of Biden's term. Traders should also pay attention to the speeches of the heads of the Swiss and Australian Central Banks.
Main events of the day:
- – Australia NAB Business Confidence (m/m) at 02:30 (GMT+2);
- – New Zealand Inflation Expectations (q/q) at 04:00 (GMT+2);
- – Switzerland SNB Chairman Jordan speaks at 10:15 (GMT+2);
- – Australia RBA Governor Lowe Speaks at 11:30 (GMT+2);
- – Eurozone Retail Sales (m/m) at 12:00 (GMT+2);
- – US Congressional Elections (All Day).
Wednesday, November 09
Wednesday is expected to be a quiet day. There will be few economic events. China will release inflation data, and the US will update its crude oil inventories.
Main events of the day:
- – China Consumer Price Index (m/m) at 03:30 (GMT+2);
- – China Producer Price Index (m/m) at 03:30 (GMT+2);
- – FOMC Member Williams Speaks at 10:00 (GMT+2);
- – US Crude Oil Reserves (w/w) at 17:30 (GMT+2).
Thursday, November 10
On Thursday, all investors will focus on the US inflation data. Analysts believe the annual inflation rate will fall from 8.2% to 8.0%, indicating that the peak of price growth has passed. Volatility in currency pairs with the dollar, gold, and indices will rise sharply. Traders will also be watching closely for a speech from the head of the Bank of Canada and speeches from the US Federal Reserve members.
Main events of the day:
- – FOMC Member Waller Speaks at 09:00 (GMT+2);
- – US Consumer Price Index (m/m) at 15:30 (GMT+2);
- – US Initial Jobless Claims (w/w) at 15:30 (GMT+2);
- – US Natural Gas Storage (w/w) at 17:30 (GMT+2);
- – Canada BoC Gov Macklem Speaks at 18:50 (GMT+2);
- – US FOMC Member Mester Speaks at 19:30 (GMT+2);
- – US FOMC Member George Speaks at 20:30 (GMT+2).
Friday, November 11
On Friday, traders should focus on the European session. The UK will publish Q3 GDP data, where analysts expect the economy to contract and enter a technical recession. Germany will update its inflation data, where a new record is expected. And in Switzerland, the head of the Central Bank will make a statement. It’s a bank holiday in the United States, Canada, and France.
Main events of the day:
- – UK GDP (q/q) at 09:00 (GMT+2);
- – UK Industrial Production (m/m) at 09:00 (GMT+2);
- – UK Manufacturing Production (m/m) at 09:00 (GMT+2);
- – Eurozone German Consumer Price Index (m/m) at 09:00 (GMT+2);
- – Eurozone Economic Forecasts (m/m) at 12:00 (GMT+2);
- – Switzerland SNB Chairman Jordan speaks at 14:45 (GMT+2);
- – US Michigan Consumer Sentiment (m/m) at 17:00 (GMT+2).
by , 2022.11.07
We advise you to get acquainted with the daily forecasts for the major currency pairs.This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
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