Week Ahead

Next week important releases include the US ISM Non-Manufacturing PMI, trade deficit, Michigan's consumer sentiment, and factory orders; UK Markit Services and Construction PMIs; Eurozone retail sales; Germany factory orders and trade balance; China foreign trade, consumer and producer prices; and Australia retail sales and trade balance. The BoE and RBA will decide on monetary policy, while the BoJ will publish meeting minutes.
Joana Ferreira | joana.ferreira@tradingeconomics.com 11/2/2019 5:35:29 PM
In the US, the ISM Non-Manufacturing PMI is expected to rebound from a three-year low, pointing to an acceleration in services activity during October; while the September's trade deficit is seen narrowing from the previous month. The preliminary reading of Michigan's consumer sentiment should point to an improvement in morale during November. Other notable publications are: factory orders; JOLTs Job Openings; IBD/TIPP Economic Optimism; third-quarter nonfarm productivity and labor costs; and the final readings of wholesale inventories and Markit Services PMI.

Elsewhere in America, important releases include: Canada employment figures, foreign trade, Ivey PMI; and Mexico and Brazil inflation rates.

In the UK, the Bank of England will meet to deliver its latest policy decision and to publish its Inflation Report with updated forecasts. Policymakers are widely expected to keep policy on hold while investors await to see whether or not the central bank switches to a dovish stance amid a Brexit deadlock and ongoing political uncertainty. On the economic data front, Markit PMIs are set to point to further contraction in both services and construction sectors during October.

Elsewhere in Europe, the Eurozone, Germany and France will publish final estimates of Markit PMIs while Spain and Italy will release flash readings. Other important releases include: Eurozone and Italy retail sales; Germany factory orders, industrial production, and trade balance; France industrial output and foreign trade; Switzerland consumer confidence and jobless rate; and Turkey inflation rate. 

In the Asia-Pacific region, China's trade figures will be keenly watched, with markets expecting a 3.5 percent drop in exports and an 8.9 percent slump in imports amid ongoing trade tensions with the US. The country will also be publishing Caixin Services PMI and consumer and producer prices. Inflation will probably hit its highest level since February 2013, while producer prices should fall further into deflationary territory. Meanwhile, the Reserve Bank of Australia is likely to hold interest rates at record lows while the Bank of Japan is set to release its monetary policy meeting minutes. Australia's retail sales, trade balance and AIG Services Index will also be in the spotlight.

Other highlights include: New Zealand third-quarter unemployment; Indonesia and the Philippines Q3 GDP growth rates; and Malaysia and Thailand interest rate decisions.





 


Friday November 01 2019 Actual Previous
12:00 AM
AU
HIA New Home Sales MoM SEP 5.7% 7.3%
12:00 AM
KR
Balance of Trade OCT $5.39B $5.98B ®
12:00 AM
KR
Exports YoY OCT -14.7% -11.7%
12:30 AM
AU
PPI QoQ Q3 0.4% 0.4%
12:30 AM
JP
Jibun Bank Manufacturing PMI Final OCT 48.4 48.9
12:30 AM
KR
Markit Manufacturing PMI OCT 48.4 48.0
01:45 AM
CN
Caixin Manufacturing PMI OCT 51.7 51.4
04:00 AM
ID
Inflation Rate YoY OCT 3.13% 3.39%
05:00 AM
IN
Markit Manufacturing PMI OCT 50.6 51.4
06:00 AM
RU
Markit Manufacturing PMI OCT 47.2 46.3
07:30 AM
CH
Inflation Rate YoY OCT -0.3% 0.1%
07:30 AM
CH
Retail Sales YoY SEP 0.9% -1% ®
08:30 AM
CH
SVME Manufacturing PMI OCT 49.4 44.6
09:00 AM
ZA
ABSA Manufacturing PMI OCT 48.1 45.1 ®
09:30 AM
GB
Markit/CIPS Manufacturing PMI OCT 49.6 48.3
12:00 PM
BR
Industrial Production MoM SEP 0.3% 0.8%
12:00 PM
MX
Business Confidence OCT 50 50.2 ®
12:30 PM
US
Non Farm Payrolls OCT 128K 180K ®
12:30 PM
US
Unemployment Rate OCT 3.6% 3.5%
01:30 PM
CA
Markit Manufacturing PMI OCT 51.2 51
01:45 PM
US
Markit Manufacturing PMI Final OCT 51.3 51.1
02:00 PM
US
ISM Manufacturing New Orders OCT 49.1 47.3
02:00 PM
US
ISM Manufacturing Prices OCT 45.5 49.7
02:00 PM
US
ISM Manufacturing Employment OCT 47.7 46.3
02:00 PM
US
ISM Manufacturing PMI OCT 48.3 47.8
02:00 PM
US
Construction Spending MoM SEP 0.5% -0.3% ®
04:00 PM
US
Fed Williams Speech
04:30 PM
DE
Bundesbank Buch Speech
05:00 PM
US
Fed Clarida Speech
05:00 PM
US
Fed Quarles Speech
06:00 PM
BR
Balance of Trade OCT $1.21B $2.25B
06:30 PM
US
Fed Williams Speech
Monday November 04 2019 Actual Previous
12:30 AM
AU
Retail Sales MoM SEP 0.2% 0.4%
06:45 AM
CH
Consumer Confidence Q4 -10.4 -8
07:00 AM
TR
Inflation Rate YoY OCT 8.55% 9.26%
08:15 AM
ES
Markit Manufacturing PMI OCT 46.8 47.7
08:45 AM