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Weekly Market View
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Further rate cuts expected in Europe
Fri, Nov 28 2008, 15:16 GMT
by Guillermo Alcalá
This week has been one of the most positive weeks for stock markets which have gone through consecutive sessions of gains following Citigroup's bail out, which has given confidence to investors to think that despite the grim outlook for next year, government aid will help to soften the consequences of the crisis.
Next week we have important events scheduled, specially interest rate decisions by the Bank of England and the European Central Bank, The ECB is expected to slash interest rates by 50 basis points, while the Bank of England will probably approve a 75 basis points rate cut, aiming to boost their economies, once inflation levels have declined sharply in the last months.
Furthermore, next week the Fed will publish its Beige Book and the Reserve Bank of New Zealand will release its monetary policy decision. And as every first Friday of the month, the U.S. Labor Department will publish the Non-Farm payrolls report.
These are next weeks' most important events:
Monday December 1
- 08:30 Switzerland SVME - Purchasing Managers' Index - Oct (Previous: 47)
- 08:55 Germany Purchasing Manager Index Manufacturing - Nov (Previous: 42.9)
- 09:00 European Monetary Union Purchasing Manager Index Manufacturing - Nov (Previous: 41.1)
- 09:30 United Kingdom M4 Money Supply - Oct (Previous: 1.5% m/m; 12.4% y/y)
- 09:30 United Kingdom Purchasing Manager Index Manufacturing - Nov (Previous: 41.5)
- 13:30 Canada Gross Domestic Product - Oct (Previoyus: -0.3% m/m)
- 15:00 United States ISM Manufacturing -Nov (Previous: 38.9)
- 18:30 United States Fed's Bernanke Speech
Tuesday December 2
- 00:30 Australia Current Account Balance - 3Q (Previous: -12774M)
- 00:30 Australia Retail Sales - Oct (Previous: 0.2%; ex inflation: -1.1%)
- 03:30 Australia RBA Interest Rate Decision (Previous: 5.25%)
- 06:45 Switzerland Consumer Price Index - Oct (Previous: 0.5% m/m; 2.6% a/a)
Wednesday December 3
- 00:01 United Kingdom Nationwide Consumer Confidence - Nov (Previous: 55)
- 00:30 Australia Gross Domestic Product - 3Q (Previous: 0.3% q/q; 2.7% y/y)
- 08:55 Germany Purchasing Manager Index Services - Nov (Previous: 48.3)
- 09:00 European Monetary Union Purchasing Manager Index Services - Nov (Previous: 45.8)
- 09:30 United Kingdom Purchasing Manager Index Services - Nov (Previous: 42.4)
- 10:00 European Monetary Union Retail Sales - Nov (Previous: -0.2% m/m; -1.6% y/y)
- 10:30 United Kingdom BRC Shop Price Index - Nov (Previous: 3% y/y)
- 13:15 United States ADP Employment Change - Nov (Previous: -157K)
- 13:30 United States Nonfarm Productivity - 3Q (Previous: 4.3%)
- 15:00 United States ISM Non-Manufacturing - Nov (Previous: 44.4)
- 19:00 United States Fed's Beige Book
- 20:00 New Zealand RBNZ Interest Rate Decision (Previous: 6.5%)
Thursday December 4
- 00:30 Australia Trade Balance - Oct (Previous: 1.46B)
- 06:45 Switzerland Gross Domestic Product - Oct (Previous: 0.3% m/m% 2.3% y/y)
- 10:00 European Monetary Union Revised Gross Domestic Product s.a. (QoQ) - 3Q (Previous: -0.2%)
- 12:00 United Kingdom BoE Interest Rate Decision (Previous: 3%)
- 12:45 European Monetary Union ECB Interest Rate Decision (Previous: 3.25%)
- 15:00 United States Factory Orders - Oct (Previous: -2.5%)
- 15:00 Canada Ivey Purchasing Managers Index - Nov (52.2)
Friday December 5
- 11:00 Germany Factory Orders n.s.a. - Oct (Previous: -8% m/m; -2.7% y/y)
- 12:00 Canada Unemployment Rate - Nov (Previous: 6.2%)
- 13:30 United States Nonfarm Payrolls - Nov (Previous: -240K)
- 13:30 United States Unemployment Rate - Nov (Previous: 6.5%)
Published on Fri, Nov 28 2008, 15:20 GMT
Archive
- Historically low interest rates to boost economic recovery
Published On Mon, Jan 12 2009, 09:16 GMT - Historically low interest rates to boost economic recovery
Published On Fri, Jan 9 2009, 15:41 GMT - Central Banks rushing to 0% interest rates
Published On Mon, Dec 22 2008, 09:27 GMT - Central Banks rushing to 0% interest rates
Published On Fri, Dec 19 2008, 16:42 GMT - Auto bailout fails, stock indexes drop
Published On Mon, Dec 15 2008, 09:06 GMT
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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
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