The US is reporting its annualized GDP growth figure for the third quarter on Thursday at 12:45 GMT and the Fed’s favorite inflation measure, the core PCE inflation index, on Friday at 12:30 GMT. The data will be the last key releases before the presidential election next week, but its impact is expected to be muted and overshadowed by political news and Covid headlines despite encouraging forecasts. Q3 the fastest growing quarter ever, but keep your feets on the ground [..]
The Eurozone’s calendar will get relatively busy at the end of this week, with the European Central Bank (ECB) gathering to set policy at a crucial time for the bloc on Thursday at 11:45 GMT, while on Friday, the agenda will be packed with Q3 GDP growth, October’s inflation, and September’s employment figures, all released at 09:00 GMT. Given the exponential increase in Covid cases and the new restrictive measures applied, which make a double dip in Q4 a more [..]
The BoC will wrap up its meeting at 14:00 GMT Wednesday. The domestic economy is doing well, and even though covid infections have risen lately, they remain far lower than those in other countries. This suggests the Bank is unlikely to act, especially since policymakers will want to evaluate the outcome of the US election and the evolution in local infections before deploying more stimulus. The loonie could spike slightly lower if the BoC strikes a cautious tone, but overall, [..]
It may be hard to escape the latest bombardment of Brexit headlines but crucial economic data coming up at the end of the week may help divert attention to the recovery in Britain as COVID-19 cases continue to rise rapidly across the country. Retail sales numbers for September are due on Friday at 09:00 GMT, to be swiftly followed by the flash October PMIs at 08:30 GMT. Although growth in the economy has stayed positive since May, there are increasing [..]
The Eurozone’s preliminary PMIs for October will hit the markets at 08:00 GMT Friday and will reveal just how much damage businesses have suffered by the second wave of coronavirus that is rampaging through Europe. The euro has not reacted much so far to the restrictions and curfews imposed in many countries, but that could change if the PMIs spark fears of another negative GDP print in Q4. Covid rages on European coronavirus infections have sadly gone through the roof [..]
Canada will publish its inflation data for the month of September at 1230 GMT on Wednesday together with retail sales figures for August. The recovery in retail sales has been V-shaped, with sales in June and July rebounding and surpassing February’s pre-pandemic levels. There is a critical juncture in the economic recovery from Covid-19 that implies more attention is needed on CPI changes as the loonie continues to head north. Will CPI and retail sales figures help the loonie? The projection for the monthly CPI is for it to remain negative at [..]
The virus reality has come back to bite markets just as investors were attempting once again to shrug off the gloom and doom. The daily frequency of tighter Covid restrictions being announced across Europe and dimming expectations of a pre-election stimulus deal by US lawmakers has put a dampener on risk sentiment over the past few days. Uncertainty about the US election and Brexit are adding to the market anxiety. With none of these outstanding issues expected to be resolved [..]
New Zealand’s election takes place on Saturday and opinion polls suggest a decisive victory for incumbent Prime Minister Jacinda Ardern, who has become tremendously popular after successfully handling the healthcare crisis. The real question for the kiwi dollar is whether Ardern will win an outright governing majority, in which case the currency could get a small boost, or whether she will need a coalition with a smaller party. In the bigger picture, the primary drivers for the kiwi will be [..]
The US calendar will get busier at the end of this week amid a turbulent presidential campaign and a fiscal stimulus drama. But among all data, the focus will be on retail sales for September released Friday at 12:30 GMT. Particularly, markets would like to find out how household spending in the world’s biggest economy is progressing during the present coronavirus conditions, but the results may not paint a rosy picture. The reduced $300 weekly unemployment benefit which Trump extended [..]
September’s employment report for Australia is likely to catch investors’ eyes on Thursday at 0030 GMT as the Australian economy is in recession as a result of the Covid-19 pandemic – its first recession in almost 30 years. Stronger figures in employment may provide some relief to the domestic currency, helping it to surpass the two-year high. Unemployment figure predicted to slow down In the previous release, the unemployment rate unexpectedly fell to 6.8% in August from a near 22-year high of 7.5% [..]
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