Next week important releases include: US inflation rate, industrial output and retail sales; UK Q3 GDP data, trade balance, jobless rate, inflation and retail sales; Eurozone industrial production and trade balance; Germany Q3 GDP growth; China industrial output, retail sales and fixed asset investment; Japan Q3 GDP growth and machinery orders; Australia consumer and business morale, and employment figures; and India inflation and industrial output. Central banks in New Zealand, the Philippines and Mexico will be deciding on monetary policy.
In the US, the consumer price inflation rate will probably hold steady at 1.7 percent in October; while the core rate should remain unchanged at one-year high of 2.4 percent. In addition, industrial output is seen contracting for the second straight month in October, led by another decline in manufacturing production; while retail sales are seen rebounding from its biggest drop in seven months. Other notable publications are producer and foreign trade prices; business inventories; NY Empire State Manufacturing Index; and the government's budget statement.
Federal Reserve Chairman Jerome Powell will testify on the economic outlook before the Joint Economic Committee on Wednesday, and will submit identical remarks to the House Budget Committee on Thursday.
Elsewhere in America, the central bank of Mexico will be deciding on interest rates while Chile's central bank will be publish