Key Economic Events and Reports of the Week Ahead
The October NFP report came roughly in line with expectations. Wage growth, as the data showed, came in line with forecasts, consequently there was no space for the markets to speculate about acceleration of Fed’s QT which is currently deemed as the biggest potential bullish USD catalyst.
The next week on the economic calendar is going to be pretty boring. US PPI data for October is due Monday. The market can only react to a strong positive surprise. US CPI data for October and jobless claims are due on Wednesday. Given the market's bias to speculate about a possible increase in the rate of tightening of the Fed's policy, the risks for the dollar are shifted towards further growth.
Next Thursday, there will be data on UK GDP, China's industrial production and the ECB forecast. The week ends with the release of the JOLTS report on open vacancies in the United States.
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