The NFP report was better than expected with a gain of 271K jobs and growth in wages of 2.5%. This report rekindled the belief of a possible rate hike by the Fed in December. On this week’s agenda: U.S. JOLTS, German GDP for Q3, U.S. PPI, China’s CPI, Japan’s current account, U.S. consumer sentiment, GB claimant count, Australia employment report, China’s industrial production, OPEC and IEA reports, and U.S. retail sales. So let’s review the economic calendar for the week of November 9th to 13th:
(All times GMT):
Monday, November 9th
23:50 – Japan’s Current Account: This report will show the changes in the difference between imported and exported goods, services, and income flows. In the recent monthly report, the surplus in the current account expanded again to 1.59 trillion yen;
Tuesday, November 10th
02:30 – China’s CPI: According to the latest update, the CPI declined to an annual rate of 1.6%; if the annual rate keeps falling, it could signal the Chinese economy is cooling down; the current expectations are for the CPI to inch down to 1.5%; it’s also worth noticing that the PPI remains negative at 5.9% — and this month the PPI is expected to remain unchanged;
Wednesday, November 11th
05:30 – China’s Industrial Production: According to the previous monthly report, China industrial production slipped to an annual rate of 5.7% — lower than market expectations; the growth rate is estimated to slightly rise — current estimate is for a growth rate of 5.8%;
09:30 – Great Britain Average Earnings Index 3m/y: This report shows the developments in the price businesses and the government pays for labor force; in the latest report, this index grew by 3%; current market estimates are for the index to rise to 3.2%;
09:30 – Great Britain Claimant Count Change: As of the recent monthly report, the number of unemployed in GB rose by 4.6K; the rate of unemployment edged down to 5.4% and is expected to remain flat in the upcoming report;
10:30 – BOE Gov Carney Speaks: He is expected to hold a press conference, along with other MPC members, about the Inflation Report, in London;
Thursday, November 12th
02:30 – Australia Employment Update: In the recent report for September the rate of unemployment didn’t change at 6.2%; the number of employed (seasonally adjusted) decreased by 5.1K people. The weakness in China could weaken the Australian labor market, which may prompt the RBA to cut rates in the coming months (see here the recent report);
13:30 – U.S. Jobless Claims Weekly Report: This weekly report will refer to the changes in the initial jobless claims for the week ending on November 6th; in the previous report, jobless claims rose to 276K;
Tentative – OPEC Monthly Report: This report will show the main developments in crude oil and natural gas’s supply and demand for October 2015; this report will also refer to the developments in the production of OPEC countries during last month;
15:00 – U.S JOLTS Job Openings: The Bureau of Labor Statistics will release its monthly report on the U.S number of job openings for September, excluding the farming industry; in the previous update for August, the number of jobs opening dropped to 5.37 million;
15:30 – U.S Crude Oil Stockpiles Weekly update: The EIA (Energy Information Administration) will release its weekly report on the U.S oil and petroleum stockpiles for the week ending on November 6th;
15:30 – EIA U.S. Natural Gas Storage: The EIA weekly report of the U.S. natural gas market will refer to the latest changes in natural gas production, storage, consumption and rates as of November 6th;
Friday, November 13th
10:00 –Germany’s Third Quarter GDP 2015: In the second quarter, Germany’s economy grew by 0.4% –lower than expected. The current expectations are for the growth rate to reach 0.3% in Q3 2015;
Tentative –IEA Monthly Oil Update: This report will show an updated (as of October) forecast and analysis for the global crude oil and natural gas market for 2015 and 2016;
13:30 – U.S. Retail Sales Report: This monthly report pertain to October; in the last September update, retail sales inched up by 0.1% (month-over-month); core retail fell by 0.3%; current expectations are for a 0.4% gain in core retail sales in October;
13:30 – U.S. Producer Price Index: This report presents the inflation rate from the producers’ side; it will refer to September 2015. In last month’s report regarding August, this index for finished goods dropped by 0.5%, m-o-m; the core PPI, by 0.3%; current estimates are for the PPI to show a gain of 0.1%;
14:55 – UoM Consumer Sentiment (preliminary): University of Michigan will publish its preliminary consumer sentiment monthly update; this survey could offer information vis-à-vis the latest developments in U.S consumers’ sentiment; According to the recent report, the sentiment index rose to 92.1;
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