The major economic releases and events: November 22 to November 26
US GDP, RBN zero rate decision
Next week in the US will have the Thanksgiving day holiday on Thursday, November 25 which extends into Friday, November 26, and will have traders leaving early on Wednesday, November 24. As a result, releases are limited and expectations are the same.
Below are the key releases and events that should shape the market price action.
Tuesday November 23rd:
On Tuesday, flash manufacturing/service PMI data will be released out of Europe including out of France, Germany, EU. France bought get things started with the release at 3:15 AM ET/0815 GMT. Germany will follow at 3:30 AM ET/0830 GMT. EU at 4 AM ET and UK at 4:30 AM ET/0930 GMT will finish the European releases.
In the US, the flash manufacturing PMI will be released at 9:45 AM with expectations of 59.0 versus 58.4 last month. The services PMI is expected to come in at 59.1 versus 50.7
Wednesday, November 24
The Reserve Bank of New Zealand will announce their interest rate decision at 8 PM ET/0100 GMT. The central bank is expected to raise rates by the 0.25 basis points to 0.75%. Press conference will commence at 9 PM ET/0200 GMT
German Apple business climate will be released at 4 AM ET/0 900 GMT with expectations of a dipped to 96.8 from 97.7
US preliminary GDP (the second cut) will be released at 8:30 AM/1330 GMT. The initial reading came in at 2.0. The estimate for the revision to show a 2.2% increase.
US durable goods orders will also be released at 8:30 AM/1330 GMT. Expectations for it hour for a 0.2% gain after a -0.3% decline last month. The core durable goods orders are expected to rise by 0.5%. That is the same as last month
US initial unemployment claims will be released a day early on Wednesday with expectations of 259K versus 268K last week. A number below last week’s number will be another low going back to the start of the pandemic in March 2020
Finally the revised University of Michigan consumer sentiment will be released at 10 AM ET with the expectations to remain unchanged at 66.8 from the preliminary number. That number was weaker than expectations. Core PCE price index will also be released at 10 AM with expectations of 0.4% versus 0.2%
Thursday, November 25: US Thanksgiving day holiday.
ECB Pres. Lagarde is expected to speak at 8:30 AM/1330 GMT and later at 12 PM ET/1700 GMT, BOE Gov. Bailey will speak.