Forex News – What to expect in the week ahead: focus on Fed, BOJ, BoE
November 18, 2013 12:06 pm
It will be a relatively quiet week in terms of economic releases, with the focus mostly turning to what various central bankers have to say and minutes from monetary policy meetings.
At the start of the week on Monday, the National Association of Home Builders index for November will be released in the United States and it wil8l be watched for signs of stabilization in the construction sector. Following a peak of the index in August, it subsequently declined somewhat during September and October.
During Tuesday, the minutes of the Reserve Bank of Australia’s meeting of November 5 will be released, probably showing that the bank wants to keep its interest rate at 2.50% but would like the currency to weaken.
The German ZEW investor sentiment index for November is also scheduled for release and it is expected to climb to a 4-year high.
Wednesday will see the release of the minutes from the end-October Federal Reserve meeting in the United States, as well as inflation and retail sales. Inflation will probably show only a 1% annual increase and headline retail sales are expected to be up 0.1% month-on-month.
One interesting feature of the coming week will be the significant number of speeches from Federal Reserve Presidents and Board members and several of them are expected to give their interpretation of what is happening in the US economy and what the Fed should do going forward.
The minutes from the Bank of England meeting of November 7th will also be released on Wednesday.
Thursday will kick off with the Bank of Japan interest rate decision, policy statement and press conference by Governor Kuroda. The BOJ is expected to keep pumping record amounts of liquidity in the economy in order to raise inflation.
Later during the day there will be some interesting data out of the Eurozone in the form of flash November Markit PMI business sentiment surveys for both manufacturing and services sectors. They are expected to show a slight improvement compared to October.
In the US, the Philly Fed mid-Atlantic regional manufacturing sentiment index is expected, as well as weekly jobless claims.
Finally on Friday, the German IFO business confidence index for November will be released, which is also expected to show some improvement.
In the US, Markit Services PMI flash estimate for November and pending home sales for October will round up what could be an interesting week.
It will be a relatively quiet week in terms of economic releases, with the focus mostly turning to what various central bankers have to say and minutes from monetary policy meetings.
At the start of the week on Monday, the National Association of Home Builders index for November will be released in the United States and it wil8l be watched for signs of stabilization in the construction sector. Following a peak of the index in August, it subsequently declined somewhat during September and October.
During Tuesday, the minutes of the Reserve Bank of Australia’s meeting of November 5 will be released, probably showing that the bank wants to keep its interest rate at 2.50% but would like the currency to weaken.
The German ZEW investor sentiment index for November is also scheduled for release and it is expected to climb to a 4-year high.
Wednesday will see the release of the minutes from the end-October Federal Reserve meeting in the United States, as well as inflation and retail sales. Inflation will probably show only a 1% annual increase and headline retail sales are expected to be up 0.1% month-on-month.
One interesting feature of the coming week will be the significant number of speeches from Federal Reserve Presidents and Board members and several of them are expected to give their interpretation of what is happening in the US economy and what the Fed should do going forward.
The minutes from the Bank of England meeting of November 7th will also be released on Wednesday.
Thursday will kick off with the Bank of Japan interest rate decision, policy statement and press conference by Governor Kuroda. The BOJ is expected to keep pumping record amounts of liquidity in the economy in order to raise inflation.
Later during the day there will be some interesting data out of the Eurozone in the form of flash November Markit PMI business sentiment surveys for both manufacturing and services sectors. They are expected to show a slight improvement compared to October.
In the US, the Philly Fed mid-Atlantic regional manufacturing sentiment index is expected, as well as weekly jobless claims.
Finally on Friday, the German IFO business confidence index for November will be released, which is also expected to show some improvement.
In the US, Markit Services PMI flash estimate for November and pending home sales for October will round up what could be an interesting week.
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