x
Breaking News
0

Economic Calendar - Top 5 Things to Watch This Week

EconomyDec 03, 2017 05:01AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Top 5 things to watch this week in financial markets

Investing.com - After a busy week dominated by market-moving U.S. tax reform and political developments, investors will get back to focusing on economic data, with Friday's employment report likely to garner the most attention.

Meanwhile, market participants will be looking ahead to monthly trade figures out of China amid recent signs that momentum in the world's second largest economy is slowing.

Elsewhere, in the UK, investors will focus on a report on activity in the dominant services sector for further indications on the continued effect that the Brexit decision is having on the economy.

Monetary policy announcements from the Bank of Canada and the Reserve Bank of Australia will also be in focus.

Ahead of the coming week, Investing.com has compiled a list of the five biggest events on the economic calendar that are most likely to affect the markets.

1. U.S. Employment Report

The U.S. Labor Department will release its November nonfarm payrolls report at 8:30AM ET (1330GMT) on Friday, and it will be watched more for what it says about wages than hiring.

The consensus forecast is that the data will show jobs growth of 198,000, after adding 261,000 positions in October, while the unemployment rate is forecast to hold steady at 4.1%.

Most of the focus will likely be on average hourly earnings figures, which are expected to rise 0.3%, following a flat reading a month earlier. On an annualized basis, wages are forecast to gain 2.7%, improving from 2.4% in October, which was the weakest rise in a year-and-a-half.

A pickup in wages could be an early sign for higher inflation, supporting the case for higher interest rates in the months ahead.

This week's calendar also features the ADP private sector nonfarm payrolls report, the ISM non-manufacturing survey, as well as preliminary Michigan consumer sentiment data.

The Federal Reserve is scheduled to hold its final policy meeting of the year on Dec. 12-13, with interest rate futures pricing in a 100% chance of a rate hike at that meeting, according to Investing.com's Fed Rate Monitor Tool. However, markets appeared doubtful over the central bank's ability to raise rates as much as it would like next year due to concern over the sluggish inflation outlook.

Tax reform legislation will remain on the agenda, as Congress works to push through a bill that could give President Donald Trump his first major legislative accomplishment of his presidency.

Friday's deadline on a possible government shutdown will also be on investors' minds.

Market players will also be on the lookout for more headlines about the Russia probe, now that Michael Flynn, former national security advisor, pleaded guilty to lying to the FBI and agreed to cooperate with investigators.

2. China Trade Figures

China is to release November trade figures at around 0300GMT on Friday. The report is expected to show that the country’s trade surplus ballooned to $39.5 billion last month from a surplus of around $38.2 billion in October.

Exports are forecast to have climbed 7.2% from a year earlier, following a gain of 6.9% a month ago, while imports are expected to rise 12.0%, after increasing 17.2% in October.

A Chinese slowdown is one of the major risks to continued global growth, so a major change in this data could cause some concerns.

Additionally, on Saturday, the Asian nation will publish data on November consumer and producer price inflation. The reports are expected to show that consumer prices rose 1.8% last month, while producer prices are forecast to increase by 6.6%.

Soft PMI data on manufacturing and non-manufacturing activity last week indicated the Chinese economy is slowing going into the fourth quarter of the year.

3. UK Services PMI

A survey on Britain's giant services sector due at 0930GMT (4:30AM ET) on Tuesday is forecast to dip to 55.0 from the previous month's reading of 55.6.

Politics is also likely to be in focus, especially with the Brexit negotiations entering a key phase. British Prime Minister Theresa May is due to meet European Commission President Jean-Claude Juncker and his chief Brexit negotiator, Michel Barnier, in Brussels on Monday.

If Monday's meeting is deemed by Brussels to have produced sufficient progress, then European Union (EU) leaders could give a green light to trade talks at a summit on Dec. 14-15, reducing the risk of a "hard Brexit".

The Bank of England raised interest rates for the first time in more than ten years last month, but said it sees only gradual rises ahead as Britain prepares to leave the EU.

4. Bank of Canada Rate Decision

The Bank of Canada's interest rate decision is due at 10:00AM ET (1500GMT) on Wednesday, with most experts expecting the central bank to hold its benchmark rate at 1.0%.

The BOC held interest rates steady at its previous meeting in October and said that while less stimulus will be required over time the bank will be cautious as it considers future moves given the risks and uncertainties facing the economy.

Market experts believe the Canadian central bank will stand pat on interest rates until April, held back by the uncertainty over how highly indebted consumers will handle increasing borrowing costs and the unknown fate of the North American Free Trade Agreement (NAFTA).

5. Reserve Bank of Australia Policy Meeting

The RBA's latest interest rate decision is due on Tuesday at 0330GMT.

Most economists expect the central bank to keep rates unchanged at the current record-low of 1.5% for the 15th straight meeting and maintain its neutral policy stance, as it balances the risk of fueling further borrowing in the country's red-hot property market against tepid inflation.

Besides the RBA, data on third-quarter economic growth, retail sales and the trade balance should also capture some attention.

Stay up-to-date on all of this week's economic events by visiting: http://www.investing.com/economic-calendar/

Economic Calendar - Top 5 Things to Watch This Week
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

 
Are you sure you want to delete this chart?
 
Write your thoughts here
 
Replace the attached chart with a new chart ?
Post
Post also to:
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments
tony ooh
tony ooh Dec 03, 2017 4:22PM GMT
Saved. See Saved Items.
This comment has already been saved in your Saved Items
for the week, nothing stellar. my interest is what you didn't mention, International Trade report, due out early (EST) tuesday. any academic comments that accompany that report always gather my interest.
Reply
0 0
 
Are you sure you want to delete this chart?
 
 
Replace the attached chart with a new chart ?
Post 1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email