Weekly High Impact News Preview
As we step into December, the upcoming week is packed with key economic events and data releases that are likely to shape market sentiment. Here’s what traders should keep an eye on:
Global Economic Updates:
The week kicks off on Monday with Australia’s Retail Sales (MoM) for October. A stable figure of 0.1% is expected, offering insight into consumer spending trends.
Additionally, the Caixin Manufacturing PMI from China will provide an important gauge of the manufacturing sector's performance, with a steady consensus of 50.3 indicating neutral conditions.
The day closes with the ISM Manufacturing PMI in the U.S., where markets will watch for further signals of contraction following previous weak figures.
Inflation and Central Bank Updates:
Tuesday begins with the Swiss Consumer Price Index (YoY) for November, expected to remain subdued at 0.6%, indicating tame inflation in Switzerland.
Later in the day, traders should tune into the RBNZ Governor Orr’s speech, as any hints of future policy shifts could impact the NZD.
Midweek Market Movers:
On Wednesday, Australia releases its GDP (QoQ) for Q3, with expectations of 0.2% growth highlighting a fragile recovery.
China’s Caixin Services PMI follows, offering further insights into its economic performance, while in the U.S., the ADP Employment Change and ISM Services PMI will provide critical updates on employment and the service sector's health.
Trade and Retail Data:
Thursday features Australia’s Trade Balance (MoM) for October, with a surplus expected to stabilize at 4,609M AUD.
The Eurozone’s Retail Sales (YoY) for October will also be in focus, as consumer activity serves as a key indicator of the region’s economic strength.
Labor Markets in Focus:
On Friday, a series of labor market updates take center stage. Canada’s Net Change in Employment and Unemployment Rate for November will shed light on the health of the Canadian workforce, with markets looking for stability in job creation.
The U.S. follows with critical releases, including Nonfarm Payrolls, Average Hourly Earnings (MoM and YoY), and the Michigan Consumer Sentiment Index. These reports will collectively provide a comprehensive picture of the U.S. labor market and consumer confidence heading into year-end.
Eurozone GDP Figures:
Also on Friday, the Eurozone releases its GDP (QoQ and YoY) for Q3. Markets will focus on whether the economy continues its slow recovery, with expectations of 0.4% QoQ and 0.9% YoY growth.
Conclusion:
This week’s economic calendar offers a wealth of data points that could trigger market volatility. From global PMI readings to U.S. labor market updates, traders should prepare for a dynamic week. Staying informed and ready to adapt will be key as these events unfold. Manage risk wisely and seize the opportunities presented by this rich lineup of high-impact news.