Key Economic Data and Reports for the Week Ahead
On Monday, markets will focus on manufacturing activity in Germany and the UK. These are the first estimates for November and will be based on the data which appeared after introduction of second lockdowns in the EU, so they will be very important in understanding how hard the new restrictions have hit the economies of Germany and the UK. The negative surprise is expected to hit European equities.
On Tuesday, Germany's third-quarter GDP growth and IFO Business Climate Index will also help to assess long-term impact of the pandemic on the German economy and the ability to jump-start a quick recovery after the restrictions are lifted.
On Wednesday, the focus will move across the Pond to the United States. Initial claims for unemployment benefits, new home sales, orders for durable goods will provide more information on the state of the economy in October. The publication of the FOMC minutes will probably have little impact on the market as the Fed meeting was held before the presidential elections and the regulator preferred to wait for the outcome of the elections giving little clues about upcoming policy tweaks.
Thursday is likely to be a day of calm as US traders will be celebrating Thanksgiving Day. However, some movement is expected in European markets as on this day thanks to release of the ECB minutes, which will clarify the extent of the Central Bank's easing action in December.
On Friday, we do not expect reports or events that could have a significant impact on the market.
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Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
Past performance is not indicative of future results.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% and 75% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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