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Last week's economic data releases were mixed but investors went risk-on ahead of the Thanksgiving holiday long weekend. Stocks hovered along new record highs while the price of gold remained close to its recent local lows of around $1,450. In the coming week we will surely see more action in the global financial markets! Let's take a look at the details.
The week behind
Tuesday's Conference Board Consumer Confidence and Wednesday's Preliminary GDP and Chicago PMI numbers were the most important economic data releases last week. They were mixed but investors went risk-on pushing stock prices even higher and the price of gold lower ahead of the Thanksgiving holiday long weekend. Then in the second half of the week volatility decreased in the global financial markets. However, we saw some price movements on Friday when negative trade war news came out.
Overall, our last week's Important Economic News Calendar covered the mentioned Tuesday's and Wednesday's U.S. economic data releases and it was worth paying attention to these events.
The week ahead
What about the coming week? The most important piece of economic data will be Friday's U.S. Nonfarm Payrolls and the Unemployment Rate. They will follow Wednesday's ADP Non-Farm Employment Change release. We will also get the usually important PMI numbers on Monday and Wednesday. The week will be very busy for the Australian and Canadian currencies traders. And the price of oil volatility may be increasing ahead of the OPEC Meetings in the second half of the week. Let's take a look at key highlights:
- All eyes will be on Friday's U.S. Nonfarm Payrolls along with the Unemployment Rate releases this week. But first, on Wednesday we will get the ADP Non-Farm Employment Change release.
- The monthly jobs data release won't be the only important piece of economic data from the U.S. On Monday we will get the ISM Manufacturing PMI followed by Wednesday's ISM Non-Manufacturing PMI.
- It will be a very busy week for the Australian and Canadian currency pairs, as their important data will get released almost on a daily basis.
- The oil traders should await Thursday's and Friday's OPEC Meetings outcomes. But first there will be usually important and price-moving inventories numbers on Tuesday and Wednesday.
You will find this week's the key news releases below (EST time zone). For your convenience, we broken them down per market to which they are particularly important, so that you know what to pay extra attention to, if you have or plan to have positions in one of them. Moreover, we put the particularly important news in bold. This kind of news is what is more likely to trigger volatile movements. The news that are not in bold usually don't result in bigger intraday moves, so unless one is engaging in a particularly active form of day trading, it might be best to focus on the news that we put in bold. Of course, you are free to use the below indications as you see fit. As far as we are concerned, we are usually not engaging in any day trading during days with "bold" events on a given market. However, in case of more medium-term trades, we usually choose to be aware of the increased intraday volatility, but not change the currently opened position.
Gold, Silver, and Mining Stocks
Monday, December 2
- 9:00 a.m. Eurozone - ECB President Lagarde Speech
- 9:30 a.m. Canada - Manufacturing PMI
- 9:45 a.m. U.S. - Final Manufacturing PMI
- 10:00 a.m. U.S. - ISM Manufacturing PMI, Construction Spending m/m
- 10:30 p.m. Australia - Cash Rate, RBA Rate Statement
Tuesday, December 3
- 7:30 p.m. Australia - GDP q/q
- 8:45 p.m. China - Caixin Services PMI
Wednesday, December 4
- 4:00 a.m. Eurozone - Final Services PMI
- 4:30 a.m. U.K. - Final Services PMI
- 8:15 a.m. U.S. - ADP Non-Farm Employment Change
- 9:45 a.m. U.S. - Final Services PMI
- 10:00 a.m. U.S. - ISM Non-Manufacturing PMI, FOMC Member Quarles Speech
- 10:00 a.m. Canada - Overnight Rate, BOC Rate Statement
- 7:30 p.m. Australia - Retail Sales m/m, Trade Balance
Thursday, December 5
- 7:45 a.m. Canada - BOC Governor Council Member Lane Speech
- 10:00 a.m. Canada - Ivey PMI
Friday, December 6
- 8:30 a.m. U.S. - Non-Farm Payrolls, Unemployment Rate, Average Hourly Earnings m/m
- 8:30 a.m. Canada - Employment Change, Unemployment Rate
- 10:00 a.m. U.S. - Preliminary UoM Consumer Sentiment, Final Wholesale Inventories m/m
Crude Oil
Monday, December 2
- 9:00 a.m. Eurozone - ECB President Lagarde Speech
- 9:30 a.m. Canada - Manufacturing PMI
- 9:45 a.m. U.S. - Final Manufacturing PMI
- 10:00 a.m. U.S. - ISM Manufacturing PMI, Construction Spending m/m
- 10:30 p.m. Australia - Cash Rate, RBA Rate Statement
Tuesday, December 3
- 4:30 p.m. U.S. - API Weekly Crude Oil Stock
- 7:30 p.m. Australia - GDP q/q
- 8:45 p.m. China - Caixin Services PMI
Wednesday, December 4
- 4:00 a.m. Eurozone - Final Services PMI
- 4:30 a.m. U.K. - Final Services PMI
- 8:15 a.m. U.S. - ADP Non-Farm Employment Change
- 9:45 a.m. U.S. - Final Services PMI
- 10:00 a.m. U.S. - ISM Non-Manufacturing PMI, FOMC Member Quarles Speech
- 10:00 a.m. Canada - Overnight Rate, BOC Rate Statement
- 10:30 a.m. U.S. - Crude Oil Inventories
- 7:30 p.m. Australia - Retail Sales m/m, Trade Balance
Thursday, December 5
- 7:45 a.m. Canada - BOC Governor Council Member Lane Speech
- 10:00 a.m. Canada - Ivey PMI
- All Day - OPEC Meetings
Friday, December 6
- 8:30 a.m. U.S. - Non-Farm Payrolls, Unemployment Rate, Average Hourly Earnings m/m
- 8:30 a.m. Canada - Employment Change, Unemployment Rate
- 10:00 a.m. U.S. - Preliminary UoM Consumer Sentiment, Final Wholesale Inventories m/m
- All Day - OPEC-JMMC Meetings
Stock Markets
Monday, December 2
- 3:15 a.m. Eurozone - Spanish Manufacturing PMI
- 3:45 a.m. Eurozone - Italian Manufacturing PMI
- 3:50 a.m. Eurozone - French Final Manufacturing PMI
- 3:55 a.m. Eurozone - German Final Manufacturing PMI
- 4:00 a.m. Eurozone - Final Manufacturing PMI
- 4:30 a.m. U.K. - Final Manufacturing PMI
- 9:00 a.m. Eurozone - ECB President Lagarde Speech
- 9:45 a.m. U.S. - Final Manufacturing PMI
- 10:00 a.m. U.S. - ISM Manufacturing PMI, Construction Spending m/m
Tuesday, December 3
- 2:45 a.m. Eurozone - French Government Budget Balance
- 3:00 a.m. Eurozone - Spanish Unemployment Change
- 4:30 a.m. U.K. - Construction PMI
- 5:00 a.m. Eurozone - PPI m/m
- 4:30 p.m. U.S. - API Weekly Crude Oil Stock
- 8:45 p.m. China - Caixin Services PMI
- All Day U.S. - Wards Total Vehicle Sales
Wednesday, December 4
- 3:15 a.m. Eurozone - Spanish Services PMI
- 3:45 a.m. Eurozone - Italian Services PMI
- 3:50 a.m. Eurozone - French Final Services PMI
- 3:55 a.m. Eurozone - German Final Services PMI
- 4:00 a.m. Eurozone - Final Services PMI
- 4:30 a.m. U.K. - Final Services PMI
- 8:15 a.m. U.S. - ADP Non-Farm Employment Change
- 9:45 a.m. U.S. - Final Services PMI
- 10:00 a.m. U.S. - ISM Non-Manufacturing PMI, FOMC Member Quarles Speech
- 10:30 a.m. U.S. - Crude Oil Inventories
Thursday, December 5
- 2:00 a.m. Eurozone - German Factory Orders m/m
- 5:00 a.m. Eurozone - Final Employment Change q/q, Retail Sales m/m, Revised GDP q/q
- 7:30 a.m. U.S. - Challenger Job Cuts y/y
- 8:30 a.m. U.S. - Trade Balance, Unemployment Claims
- 10:00 a.m. U.S. - Factory Orders m/m, FOMC Member Quarles Speech
- All Day, Eurozone - Eurogroup Meetings
- All Day - OPEC Meetings
Friday, December 6
- 2:00 a.m. Eurozone - German Industrial Production m/m
- 2:45 a.m. Eurozone - French Trade Balance
- 4:00 a.m. Eurozone - Italian Retail Sales m/m
- 8:30 a.m. U.S. - Non-Farm Payrolls, Unemployment Rate, Average Hourly Earnings m/m
- 10:00 a.m. U.S. - Preliminary UoM Consumer Sentiment, Final Wholesale Inventories m/m
- All Day, Eurozone - ECOFIN Meetings
- All Day - OPEC-JMMC Meetings
EUR/USD
Monday, December 2
- 3:15 a.m. Eurozone - Spanish Manufacturing PMI
- 3:45 a.m. Eurozone - Italian Manufacturing PMI
- 3:50 a.m. Eurozone - French Final Manufacturing PMI
- 3:55 a.m. Eurozone - German Final Manufacturing PMI
- 4:00 a.m. Eurozone - Final Manufacturing PMI
- 4:30 a.m. U.K. - Final Manufacturing PMI
- 9:00 a.m. Eurozone - ECB President Lagarde Speech
- 9:45 a.m. U.S. - Final Manufacturing PMI
- 10:00 a.m. U.S. - ISM Manufacturing PMI, Construction Spending m/m
Tuesday, December 3
- 2:45 a.m. Eurozone - French Government Budget Balance
- 3:00 a.m. Eurozone - Spanish Unemployment Change
- 5:00 a.m. Eurozone - PPI m/m
- 8:45 p.m. China - Caixin Services PMI
Wednesday, December 4
- 3:15 a.m. Eurozone - Spanish Services PMI
- 3:45 a.m. Eurozone - Italian Services PMI
- 3:50 a.m. Eurozone - French Final Services PMI
- 3:55 a.m. Eurozone - German Final Services PMI
- 4:00 a.m. Eurozone - Final Services PMI
- 4:30 a.m. U.K. - Final Services PMI
- 8:15 a.m. U.S. - ADP Non-Farm Employment Change
- 9:45 a.m. U.S. - Final Services PMI
- 10:00 a.m. U.S. - ISM Non-Manufacturing PMI, FOMC Member Quarles Speech
Thursday, December 5
- 2:00 a.m. Eurozone - German Factory Orders m/m
- 5:00 a.m. Eurozone - Final Employment Change q/q, Retail Sales m/m, Revised GDP q/q
- 7:30 a.m. U.S. - Challenger Job Cuts y/y
- 8:30 a.m. U.S. - Trade Balance, Unemployment Claims
- 10:00 a.m. U.S. - Factory Orders m/m, FOMC Member Quarles Speech
- All Day, Eurozone - Eurogroup Meetings
Friday, December 6
- 2:00 a.m. Eurozone - German Industrial Production m/m
- 2:45 a.m. Eurozone - French Trade Balance
- 4:00 a.m. Eurozone - Italian Retail Sales m/m
- 8:30 a.m. U.S. - Non-Farm Payrolls, Unemployment Rate, Average Hourly Earnings m/m
- 10:00 a.m. U.S. - Preliminary UoM Consumer Sentiment, Final Wholesale Inventories m/m
- 3:00 p.m. U.S. - Consumer Credit m/m
- All Day, Eurozone - ECOFIN Meetings
USD/JPY
Monday, December 2
- 9:45 a.m. U.S. - Final Manufacturing PMI
- 10:00 a.m. U.S. - ISM Manufacturing PMI, Construction Spending m/m
- 6:50 p.m. Japan - Monetary Base y/y
- 10:30 p.m. Australia - Cash Rate, RBA Rate Statement
Tuesday, December 3
- 7:30 p.m. Australia - GDP q/q
- 8:45 p.m. China - Caixin Services PMI
Wednesday, December 4
- 8:15 a.m. U.S. - ADP Non-Farm Employment Change
- 9:45 a.m. U.S. - Final Services PMI
- 10:00 a.m. U.S. - ISM Non-Manufacturing PMI, FOMC Member Quarles Speech
- 10:00 a.m. Canada - Overnight Rate, BOC Rate Statement
- 7:30 p.m. Australia - Retail Sales m/m, Trade Balance
Thursday, December 5
- 7:30 a.m. U.S. - Challenger Job Cuts y/y
- 8:30 a.m. U.S. - Trade Balance, Unemployment Claims
- 10:00 a.m. U.S. - Factory Orders m/m, FOMC Member Quarles Speech
- 10:00 a.m. Canada - Ivey PMI
- 6:30 p.m. Japan - Average Cash Earnings y/y, Household Spending y/y
Friday, December 6
- 0:00 a.m. Japan - Leading Indicators
- 8:30 a.m. U.S. - Non-Farm Payrolls, Unemployment Rate, Average Hourly Earnings m/m
- 8:30 a.m. Canada - Employment Change, Unemployment Rate
- 10:00 a.m. U.S. - Preliminary UoM Consumer Sentiment, Final Wholesale Inventories m/m
GBP/USD
Monday, December 2
- 4:30 a.m. U.K. - Final Manufacturing PMI
- 9:00 a.m. Eurozone - ECB President Lagarde Speech
- 9:45 a.m. U.S. - Final Manufacturing PMI
- 10:00 a.m. U.S. - ISM Manufacturing PMI, Construction Spending m/m
- 7:01 p.m. U.K. - BRC Retail Sales Monitor y/y
Tuesday, December 3
- 4:30 a.m. U.K. - Construction PMI
- 8:45 p.m. China - Caixin Services PMI
Wednesday, December 4
- 4:30 a.m. U.K. - Final Services PMI
- 8:15 a.m. U.S. - ADP Non-Farm Employment Change
- 9:45 a.m. U.S. - Final Services PMI
- 10:00 a.m. U.S. - ISM Non-Manufacturing PMI, FOMC Member Quarles Speech
Thursday, December 5
- 7:30 a.m. U.S. - Challenger Job Cuts y/y
- 8:30 a.m. U.S. - Trade Balance, Unemployment Claims
- 10:00 a.m. U.S. - Factory Orders m/m, FOMC Member Quarles Speech
- All Day, Eurozone - Eurogroup Meetings
Friday, December 6
- 3:30 a.m. U.K. - Halifax HPI m/m
- 8:30 a.m. U.S. - Non-Farm Payrolls, Unemployment Rate, Average Hourly Earnings m/m
- 10:00 a.m. U.S. - Preliminary UoM Consumer Sentiment, Final Wholesale Inventories m/m
- 3:00 p.m. U.S. - Consumer Credit m/m
- All Day, Eurozone - ECOFIN Meetings
USD/CAD
Monday, December 2
- 9:30 a.m. Canada - Manufacturing PMI
- 9:45 a.m. U.S. - Final Manufacturing PMI
- 10:00 a.m. U.S. - ISM Manufacturing PMI, Construction Spending m/m
- 10:30 p.m. Australia - Cash Rate, RBA Rate Statement
Tuesday, December 3
- 4:30 p.m. U.S. - API Weekly Crude Oil Stock
- 8:45 p.m. China - Caixin Services PMI
Wednesday, December 4
- 8:15 a.m. U.S. - ADP Non-Farm Employment Change
- 8:30 a.m. Canada - Labor Productivity q/q
- 9:45 a.m. U.S. - Final Services PMI
- 10:00 a.m. U.S. - ISM Non-Manufacturing PMI, FOMC Member Quarles Speech
- 10:00 a.m. Canada - Overnight Rate, BOC Rate Statement
- 10:30 a.m. U.S. - Crude Oil Inventories
Thursday, December 5
- 7:30 a.m. U.S. - Challenger Job Cuts y/y
- 7:45 a.m. Canada - BOC Governor Council Member Lane Speech
- 8:30 a.m. U.S. - Trade Balance, Unemployment Claims
- 8:30 a.m. Canada - Trade Balance
- 10:00 a.m. U.S. - Factory Orders m/m, FOMC Member Quarles Speech
- 10:00 a.m. Canada - Ivey PMI
- All Day - OPEC Meetings
Friday, December 6
- 8:30 a.m. U.S. - Non-Farm Payrolls, Unemployment Rate, Average Hourly Earnings m/m
- 8:30 a.m. Canada - Employment Change, Unemployment Rate
- 10:00 a.m. U.S. - Preliminary UoM Consumer Sentiment, Final Wholesale Inventories m/m
- 3:00 p.m. U.S. - Consumer Credit m/m
- All Day - OPEC-JMMC Meetings
AUD/USD
Monday, December 2
- 0:30 a.m. Australia - Commodity Prices y/y
- 9:45 a.m. U.S. - Final Manufacturing PMI
- 10:00 a.m. U.S. - ISM Manufacturing PMI, Construction Spending m/m
- 7:30 p.m. Australia - Current Account
- 10:30 p.m. Australia - Cash Rate, RBA Rate Statement
Tuesday, December 3
- 4:30 a.m. Australia - AIG Services Index
- 4:30 p.m. U.S. - API Weekly Crude Oil Stock
- 7:30 p.m. Australia - GDP q/q
- 8:45 p.m. China - Caixin Services PMI
Wednesday, December 4
- 8:15 a.m. U.S. - ADP Non-Farm Employment Change
- 9:45 a.m. U.S. - Final Services PMI
- 10:00 a.m. U.S. - ISM Non-Manufacturing PMI, FOMC Member Quarles Speech
- 10:00 a.m. Canada - Overnight Rate, BOC Rate Statement
- 10:30 a.m. U.S. - Crude Oil Inventories
- 7:30 p.m. Australia - Retail Sales m/m, Trade Balance
Thursday, December 5
- 7:30 a.m. U.S. - Challenger Job Cuts y/y
- 8:30 a.m. U.S. - Trade Balance, Unemployment Claims
- 10:00 a.m. U.S. - Factory Orders m/m, FOMC Member Quarles Speech
- 10:00 a.m. Canada - Ivey PMI
- 4:30 p.m. Australia - AIG Construction Index
- All Day - OPEC Meetings
Friday, December 6
- 8:30 a.m. U.S. - Non-Farm Payrolls, Unemployment Rate, Average Hourly Earnings m/m
- 8:30 a.m. Canada - Employment Change, Unemployment Rate
- 10:00 a.m. U.S. - Preliminary UoM Consumer Sentiment, Final Wholesale Inventories m/m
- 3:00 p.m. U.S. - Consumer Credit m/m
- All Day - OPEC-JMMC Meetings
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Thank you.
Paul Rejczak
Stock Trading Strategist
Sunshine Profits - Effective Investments through Diligence and Care
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