Week Ahead

Investors will continue to monitor the spread and impact of the pandemic on the global economy while the third-quarter earnings season will come to a close. Elsewhere, central banks in China, Turkey, Hungary, Indonesia, Iceland, the Philippines and Thailand will be deciding on monetary policy. Key economic data include US retail sales and industrial production; UK and Eurozone consumer confidence and inflation; China unemployment, retail sales and industrial output; Japan Q3 GDP, trade balance and inflation; and Australia employment figures. Traders will also follow the G20 Virtual Leaders’ Summit.
Stefanie Moya | stefanie.moya@tradingeconomics.com 11/13/2020 8:28:26 PM
In the US, retail sales and industrial production numbers for October are seen pointing to modest growth amid the ongoing COVID-19 crisis and a lack of government support. In addition, building permits and housing starts are set to rise further as the housing market continues to be supported by record low interest rates and increasing demand from people moving away from big cities due to the pandemic. Other important publications are existing home sales, foreign trade prices, NY Empire State Manufacturing Index, Philadelphia Fed Manufacturing Index, NAHB Housing Market Index, business inventories and overall capital flows.

On the corporate front, the third-quarter earnings season continues, with reports expected from Walmart, Home Depot, Lowe’s, Target, TJX, Nvidia and Vodafone.

Elsewhere in America, key data to follow include Canada inflation rate, retail trade, housing starts, home prices, manufacturing and wholesale sales, and ADP Employment Change; and third-quarter GDP figures for Chile, Colombia and Peru.

Across the Atlantic, the UK economic calendar is packed with key updates on consumer and producer prices data, retail sales, consumer confidence, CBI factory orders, and public sector net borrowing.

Elsewhere in Europe, a flash estimate of the Eurozone consumer confidence is likely to show a deterioration in morale to a six-month low as the region continues to battle against the second wave of coronavirus infections, while final consumer price data is expected to confirm the bloc remained in deflationary territory for the third month. Other key data includes Eurozone construction output; Germany producer prices; Italy final inflation rate; Spain and Italy trade balance; Turkey consumer survey and Switzerland foreign trade and industrial production. Central banks in Turkey, Hungary and Iceland will decide on monetary policy.

In Asia, the People's Bank of China will provide an update on its new loan prime rate (LPR) on Friday, which was left unchanged at 3.85 percent on October 20th. October updates to China’s economic data will also be in the spotlight, including industrial production, retail sales, unemployment rate, fixed asset investment and house price index. 

It will be a busy week in Japan with the release of the preliminary reading of Q3 GDP, trade balance, inflation rate and September’s final reading of industrial production. Also, the Jibun Bank will be publishing flash PMIs for October. The Reserve Bank of Australia will be publishing the minutes from its latest monetary policy meeting. On the economic data front, important releases in Australia include employment figures, HIA new home sales, Westpac leading index, and October’s preliminary reading of retail sales. 

Other highlights for the Asia-Pacific region include: Q3 GDP for Thailand; India wholesale prices; and trade balance for Indonesia, Singapore and Thailand. Central banks in Indonesia, the Philippines and Thailand will also be deciding on monetary policy.

The G20 Leaders’ Summit will be held virtually next week with expectations that progress will be made on a common framework for dealing with the recent rise in indebtedness of the world’s poorest countries. 





 


Sunday November 15 2020 Actual Previous
04:00 PM
CO
GDP Growth Rate YoY Q3 -9% -15.8% ®
11:50 PM
JP
GDP Growth Annualized Prel Q3 21.4% -28.8% ®
11:50 PM
JP
GDP Growth Rate QoQ Prel Q3 5% -8.2% ®
Monday November 16 2020 Actual Previous
12:30 AM
CN
FDI (YTD) YoY OCT 6.4% 5.2%
01:30 AM
CN
House Price Index YoY OCT 4.3% 4.6%
02:00 AM
CN
Industrial Production YoY OCT 6.9% 6.9%
02:00 AM
CN
Retail Sales YoY OCT 4.3% 3.3%
02:00 AM
CN
Unemployment Rate OCT 5.3% 5.4%
02:00 AM
CN
NBS Press Conference
02:00 AM
CN
Fixed Asset Investment (YTD) YoY OCT 1.8% 0.8%
02:30 AM
TH
GDP Growth Rate YoY Q3 -6.4% -12.1% ®
02:30 AM
TH
GDP Growth Rate QoQ Q3 6.5% -9.9% ®
04:00 AM
ID
Balance of Trade OCT $3.61B $2.39B ®
04:00 AM
JP
BoJ Masai Speech
04:30 AM
JP
Industrial Production MoM Final SEP 3.9% 1.0%
08:40 AM
AU
RBA Gov Lowe Speech
09:00 AM
EA
ECB Guindos Speech
09:00 AM
IT
Inflation Rate YoY Final OCT -0.3% -0.6%
10:10 AM
NG
Inflation Rate YoY OCT 14.23% 13.71%
11:00 AM
IL
GDP Growth Rate QoQ 1st Est Q3 8.4% -8.5% ®
11:30 AM
BR
BCB Focus Market Readout
01:00 PM
EA
ECB President Lagarde Speech
01:00 PM
DE
Bundesbank Mauderer Speech
01:30 PM
EA
ECB Mersch Speech
01:30 PM
US
NY Empire State Manufacturing Index NOV 6.30 10.50
05:00 PM
US
Fed Clarida Speech
05:30 PM
GB
BoE Haskel Speech
06:45 PM
US
Fed Daly Speech
10:30 PM
AU
RBA Kent Speech
Tuesday November 17 2020 Actual Previous
12:30 AM
AU
RBA Meeting Minutes
06:00 AM
AU
RBA Debelle Speech
07:00 AM
NO
GDP Growth Rate QoQ Q3 4.6% -4.7% ®
07:00 AM
NO
GDP Growth Mainland QoQ Q3 5.2% -6% ®
08:30 AM
HK
Unemployment Rate OCT 6.4% 6.4%
09:00 AM
IT
Balance of Trade SEP €5.849B €3.928B
01:00 PM
EA
ECB Guindos Speech
01:15 PM
CA
Housing Starts OCT 214.9K 208.7K ®
01:30 PM
US
Retail Sales MoM OCT 0.3% 1.6% ®
01:30 PM
US
Retail Sales Ex Autos MoM OCT 0.2% 1.2% ®
01:30 PM
US
Import Prices YoY OCT -1% -1.4% ®
01:30 PM
US
Import Prices MoM OCT -0.1% 0.2% ®
01:30 PM
US
Export Prices YoY OCT -1.6% -1.8%
01:30 PM
US
Export Prices MoM OCT 0.2% 0.6%
02:00 PM
GB
BoE Gov Bailey Speech
02:15 PM
US
Industrial Production YoY OCT -5.3% -6.7% ®
02:15 PM
US
Industrial Production MoM OCT 1.1% -0.4% ®
03:00 PM
US
NAHB Housing Market Index NOV 90 85
03:00 PM
US
Business Inventories MoM SEP 0.7% 0.3%
03:45 PM
DE
Bundesbank Balz Speech
04:00 PM
EA
ECB President Lagarde Speech
04:30 PM
CO
GDP Growth Rate QoQ Q3 8.7% -16.1% ®
05:00 PM
GB
BoE Ramsden Speech
06:00 PM
US
Fed Bostic Speech
06:25 PM
US
Fed Daly Speech
07:00 PM
CA
BoC Gov Macklem Speech
07:00 PM
US
Fed Williams Speech
07:35 PM
US
Fed Bostic Speech
07:50 PM
US
Fed Daly Speech
09:00 PM
US
Net Long-Term Tic Flows SEP $108.9B $27.8B
09:00 PM
US
Foreign Bond Investment SEP $22.5B $-33.1B
09:00 PM
US
Overall Net Capital Flows SEP $-79.9B $85B ®
09:30 PM
US
API Crude Oil Stock Change 13/NOV 4.174M -5.147M
10:00 PM
AU
RBA Gov Lowe Speech
11:50 PM
JP
Balance of Trade OCT ¥872.9B ¥687.8B ®
11:50 PM
JP
Exports YoY OCT -0.2% -4.9%
SA
OPEC+ JMMC Meeting
Wednesday November 18 2020 Actual Previous
12:00 AM
AU
HIA New Home Sales MoM OCT -1.3% 3.8%
07:00 AM
EU
New Car Registrations YoY OCT -7.8% 3.1%
07:00 AM
TH
Interest Rate Decision 0.5% 0.5%
07:00 AM
GB
Inflation Rate YoY OCT 0.7% 0.5%
07:00 AM
GB
Inflation Rate MoM OCT 0% 0.4%
07:00 AM
GB
Core Inflation Rate YoY OCT 1.5% 1.3%
08:30 AM
DE
Bundesbank Balz Speech
10:00 AM
EA
Core Inflation Rate YoY Final OCT 0.2% 0.2%
10:00 AM
EA
Inflation Rate YoY Final OCT -0.3% -0.3%
10:30 AM
GB
BoE Haldane Speech
11:00 AM
ZA
Retail Sales YoY SEP -2.7% -4.1% ®
11:30 AM
CL
GDP Growth Rate YoY Q3 -9.1% -14.5% ®
11:30 AM
CL
GDP Growth Rate QoQ Q3 5.2% -13.5% ®
01:15 PM
CA
BoC Wilkins Speech
01:30 PM
CA
Inflation Rate YoY OCT 0.7% 0.5%
01:30 PM
CA
Inflation Rate MoM OCT 0.4% -0.1%
01:30 PM
CA
Core Inflation Rate YoY OCT 1% 1%
01:30 PM
US
Building Permits OCT 1.545M 1.545M
01:30 PM
US
Building Permits MoM OCT 0.0% 4.7%
01:30 PM
US
Housing Starts OCT 1.53M 1.459M ®
01:30 PM
US
Housing Starts MoM OCT 4.9% 6.3% ®
03:00 PM
US
Fed Evans Speech
03:30 PM
US
EIA Crude Oil Stocks Change 13/NOV 0.768M 4.278M
03:30 PM
US
EIA Cushing Crude Oil Stocks Change 13/NOV 1.2M -0.518M
03:30 PM
US
EIA Gasoline Stocks Change 13/NOV 2.611M -2.309M
03:30 PM
US
EIA Distillate Stocks Change 13/NOV -5.217M -5.354M
05:15 PM
US
Fed Williams Speech
06:20 PM
US
Fed Bullard Speech
EA
ECB Non-Monetary Policy Meeting
Thursday November 19 2020 Actual Previous
12:00 AM
US
Fed Bostic Speech
12:30 AM
AU
Part Time Employment Chg OCT 81.8K -2.2K ®
12:30 AM
AU
Unemployment Rate OCT 7% 6.9%
12:30 AM
AU
Employment Change OCT 178.8K -42.5K ®
12:30 AM
AU
Full Time Employment Chg OCT 97.0K -40.3K ®
05:30 AM
NL
Unemployment Rate OCT 4.3% 4.4%
07:00 AM
CH
Balance of Trade OCT CHF2.9B CHF2.4B ®
07:30 AM
ID
Interest Rate Decision 3.75% 4%
07:30 AM
CH
Industrial Production YoY Q3 -5.1% -9.3% ®
08:00 AM
EA
ECB President Lagarde Speech
08:00 AM
PH
Interest Rate Decision 2% 2.25%
08:30 AM
SE
Unemployment Rate OCT 7.8% 8.3%
09:00 AM
PL
Employment Growth YoY OCT -1% -1.5% ®
09:00 AM
ES
Balance of Trade SEP €-1.48B €-1.74B
10:00 AM
EA
Construction Output YoY SEP -2.5% 0.4% ®
11:00 AM
TR
TCMB Interest Rate Decision 15% 10.25%
11:00 AM
GB
CBI Industrial Trends Orders NOV -40 -34
12:00 PM
PL
Monetary Policy Meeting Minutes
01:00 PM
ZA
Interest Rate Decision 3.5% 3.5%
01:30 PM
CA
ADP Employment Change OCT -79.5K -564.4K ®
01:30 PM
US
Fed Mester Speech
01:30 PM
US
Initial Jobless Claims 14/NOV 742K 711K ®
01:30 PM
US
Jobless Claims 4-Week Average 14/NOV 742K 755.75K ®
01:30 PM
US
Philadelphia Fed Manufacturing Index NOV 26.3 32.3
02:30 PM
DE
Bundesbank Mauderer Speech
03:00 PM
US
Existing Home Sales MoM OCT 4.3% 9.9% ®
03:00 PM
US
Existing Home Sales OCT 6.85M 6.57M ®
04:00 PM
DE
Bundesbank Buch Speech
05:00 PM
DE
Bundesbank Wuermeling Speech
05:35 PM
US
Fed Mester Speech
11:30 PM
JP
Inflation Rate YoY OCT -0.4% 0%
11:30 PM
JP
Core Inflation Rate YoY OCT -0.7% -0.3%
EU
European Council Video Conference
Friday November 20 2020 Actual Previous
12:01 AM
GB
GfK Consumer Confidence NOV -33 -31
12:30 AM
AU
Retail Sales MoM Prel OCT 1.6% -1.1% ®
12:30 AM
JP
Jibun Bank Manufacturing PMI Flash NOV 48.3 48.7
12:30 AM
JP
Jibun Bank Services PMI Flash NOV 46.7 47.7
01:30 AM
CN
Loan Prime Rate 1Y 3.85% 3.85%
01:30 AM
CN
Loan Prime Rate 5Y NOV 4.65% 4.65%
05:30 AM
NL
Consumer Confidence NOV -26.0 -30.0
07:00 AM
DE
PPI MoM OCT 0.1% 0.4%
07:00 AM
TR
Consumer Confidence NOV 80.1 81.9
07:00 AM
GB
Retail Sales MoM OCT 1.2% 1.4% ®
07:00 AM
GB
Retail Sales YoY OCT 5.8% 4.6% ®
09:30 AM
EG
Unemployment Rate Q3 7.3% 9.6%
01:00 PM
DE
Bundesbank Weidmann Speech
01:30 PM
CA
Retail Sales MoM SEP 1.1% 0.5% ®
01:30 PM
CA
New Housing Price Index YoY OCT 3.9% 3.2%
01:30 PM
CA
New Housing Price Index MoM OCT 0.8% 1.2%
03:00 PM
EA
Consumer Confidence Flash NOV -17.6 -15.5
04:00 PM
RU
Unemployment Rate OCT 6.3% 6.3%
Saturday November 21 2020 Actual Previous
SA
G20 Summit Meeting
Sunday November 22 2020 Actual Previous
10:00 PM
AU
Markit Services PMI Flash NOV 54.9 53.7
10:00 PM
AU
Markit Manufacturing PMI Flash NOV 56.1 54.2
SA
G20 Summit Meeting
Monday November 23 2020 Actual Previous
12:00 AM
SG
GDP Growth Rate YoY Final Q3 -5.8% -13.3% ®
12:00 AM
SG
GDP Growth Rate QoQ Final Q3 9.2% -13.2%
03:30 AM
TH
Balance of Trade OCT $2.05B $2.23B
08:00 AM
NG
GDP Growth Rate YoY Q3 -3.62% -6.10%
08:00 AM
NG
GDP Growth Rate QoQ Q3 12.1% -5%
08:00 AM
TW
Unemployment Rate OCT 3.77% 3.78%
08:15 AM
FR
Markit Manufacturing PMI Flash NOV 49.1 51.3
08:15 AM
FR
Markit Services PMI Flash NOV 38 46.5
08:30 AM
DE
Markit Services PMI Flash NOV 46.2 49.5
08:30 AM
DE
Markit Manufacturing PMI Flash NOV 57.9 58.2
09:00 AM
EA
Markit Manufacturing PMI Flash NOV 53.6 54.8
09:00 AM
EA
Markit Services PMI Flash NOV 41.3 46.9
09:30 AM
GB
Markit/CIPS UK Services PMI Flash NOV 45.8 51.4
09:30 AM
GB
Markit/CIPS Manufacturing PMI Flash NOV 55.2 53.7
11:00 AM
IL
Unemployment Rate OCT 4.7% 4.6% ®
11:30 AM
BR
BCB Focus Market Readout
01:30 PM
US
Chicago Fed National Activity Index OCT 0.83 0.32 ®
02:45 PM
US
Markit Composite PMI Flash NOV 57.9 56.3
02:45 PM
US
Markit Manufacturing PMI Flash NOV 56.7 53.4
02:45 PM
US