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.

chart

 

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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All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits' employees and associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski's, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits' employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

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