What's up this week in the markets? 📅 Let's take a look!

Japan Gross Domestic Product (GDP) q/q – (Monday, 15 November)

Gross Domestic Product (GDP) q/q reflects the monetary value of all goods and services produced in Japan during a given quarter compared to the previous one. The calculation takes into account private consumption, government spending, the costs of all enterprises and net exports of the country. GDP growth can have a positive effect on yen quotes and vice versa, so watch out for USD/JPY.

European Union employment change & GDP – (Tuesday, 16 November)

Employment Change shows the change in the number of people employed in the euro area in the given quarter compared to the previous one. The growth of the indicator value can have a positive effect on euro quotes and vice versa. Combine this with the GDP q/q release and volatility may be expected for EUR/USD.

RBA Monetary Policy Meeting Minutes – (Tuesday, 16 November)

On Tuesday, the Reserve Bank of Australia (RBA) will release the Monetary Policy Meeting Minutes. It's a detailed record of the Reserve Bank of Australia's most recent meeting, providing in-depth insights into the economic health that influenced their decision regarding interest rate. So far, the RBA has kept its interest rate steady at 0.10%. Following the decision to abandon the three-year yield objective, the RBA will share the discussions surrounding the rate hike time frame. Watch out for AUD/USD.

Core Retail Sales & Industrial Production – (Tuesday, 16 November)

The Census Bureau is due to report core retail sales data on Tuesday. It is the major indicator of consumer spending that accounts for the vast bulk of total economic activity. With the October inflation readings in the United States and China behind us, the focus switches to the real economy's performance. The world's two largest economies publish retail sales and industrial production statistics. With higher vehicle sales, the first increase in six months, US retail sales increased by 0.7%. Economists expect a surge in retail sales figures of 0.7% to 1.2%. Typically, stronger retail sales data underpins the US dollar index and vice versa. Watch out for EUR/USD and other major pairs with the Dollar.

UK Consumer Price Index (CPI) – (Wednesday, 17 November)

The Office for National Statistics in the United Kingdom will release the CPI numbers on Wednesday. The annual CPI currently stands at 3.1%. Economists expect it to surpass 3.8 percent, significantly beyond the BoE's 3 percent maximum limit. Typically, stronger CPI data boosts the demand for sterling amid expectations that the BoE will raise rates sooner than expected. Watch out for GBP/USD.

Canada Consumer Price Index (CPI) – (Wednesday, 17 November)

Statistics Canada will publish the Canadian consumer price index (CPI) figures on Wednesday. Canada has the third-highest inflation rate among high-income countries, trailing only the United States and New Zealand. The CPI climbed by 0.4% in Canada last October, and with such a high bar, the year-over-year gain is unlikely to accelerate significantly from the 4.4% reported in September. However, economists expect inflation to surge rapidly in November and December. Watch out for CAD/USD.

US Treasury Currency Report – (Friday, 18 November)

The US Department of the Treasury publishes this report, which gives a comprehensive overview of worldwide exchange rate policy, economic conditions, and central bank and government actions. The report also identifies countries that the Treasury considers to be currency manipulators. The report drew significant attention during Trump's protectionist time, and it underwent some changes after Janet Yellen took over as Secretary of the Treasury. Watch out for EUR/USD and other major pairs with the Dollar.

That's it for this week!

Make sure to follow other market events on NAGA's Economic calendar, as well as companies' Q3 earnings reports on the Earnings calendar! 📅

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