Week Ahead | A Weaker Dollar

27th November 2017 - 01st December 2017

Monday

• EUR EU Financial Stability Review
• USD New Home Sales

A Quiet start to a busy week. We will see Financial stability review from the euro zone which provides an overview of the possible sources of risk and vulnerability to financial stability in the euro area. The day will end with New Home Sales which is an important measure of housing market conditions.

Tuesday

• EUR Gfk Consumer Confidence Survey
• GBP Financial Stability Report & Bank Stress Test Results
• USD Housing Price Index

Early morning, we will see Gfk Consumer Confidence Survey from Germany which measures the level of consumer confidence in economic activity in Germany. Then the focus shifts to UK with the release of Bank Stress Test Results which provides new capital requirement estimates for these institutions. The report will show which banks passed the test and which ones failed.

This will be followed by Financial Stability Report which shows the assessment of the outlook for the stability and resilience of the financial sector, and the policy actions it advises to reduce and mitigate risks to stability. The day will end with Housing Price Index from USA which provides an estimated value of housing market conditions.

Wednesday

• GBP Consumer Credit & Mortgage Approvals
• EUR Services Sentiment, Industrial Confidence, Economic Sentiment Indicator & Business Climate
• USD Gross Domestic Product, Personal Consumption Expenditures, Core Personal Consumption Expenditures & Pending Homes Sales
• OPEC Meeting

Quite an eventful day in the market with several top tier reports being released from UK, Euro zone and USA. Early morning UK will release Consumer credit and Mortgage approvals. Consumer Credit shows an amount of money that individuals borrowed in the previous month while Mortgage Approvals presents the number of various Mortgage Approvals.

Then the focus shifts to Euro zone with several economic surveys been released. So far the previous surveys indicated that the economic growth is on course for a stronger euro, so it would be interesting to see if these surveys will indicate the same. The latter half of the day belongs to USA with few key data to be released. The highlight would be on GDP figures and Home sales figures.

Thursday

• EUR Retail Sales, Unemployment Rate, Unemployment Change & Consumer Price Index
• USD Personal Consumption Expenditures, Core Personal Consumption Expenditures, Personal Income, Personal Spending, Continuing & Initial Jobless Claims

Another busy day follows with several key data from Euro zone and USA. First up will be German Retail Sales which is a measure of changes in sales of the German retail sector. Then comes Unemployment Change which is a measure of the absolute change in the number of unemployed people in Germany. This is followed by Unemployment Rate which shows , in a percent basis, the amount of unemployed people in Germany. The euro zone data release will come to an end for the day with the release of Consumer Price Index which captures the changes in the price of goods and services.

Yet again another US data dominant afternoon awaits the markets with several data figures to be released on Inflation and Jobless claims front.

Friday

• EUR Markit Manufacturing PMI
• GBP Markit Manufacturing PMI
• USD Markit Manufacturing PMI, ISM Manufacturing PMI, ISM Price Paid & Construction Spending

A bit of a quiet day compared to eventful Wednesday and Thursday. Early morning we will see Markit Manufacturing PMI from Euro zone and UK. By evening we will see the same report along with ISM Manufacturing PMI and ISM Prices from USA.