Monday – 19 November 2018
- ECB Financial Stability Review (EUR, GMT 09:00) – The Financial Stability Review provides an overview of potential risks to financial stability in the Euro Area.
Tuesday – 20 November 2018
- Monetary Policy Meeting Minutes (AUD, GMT 00:30) – The RBA minutes, similar to the ECB Reports, provide a detailed assessment of the bank’s most recent policy-setting meeting, containing in-depth insights into the economic conditions that influenced the rate decision. They are usually a cause for FX turbulence.
- Housing starts and Building Permits (USD, GMT 13:30) – The September decline in starts reflected weakness in both the single- and multi-family components, led by a big decline in the South that likely reflected Hurricane Florence effects. Hurricane-related weakness should continue in October due to Hurricane Michael. Housing starts should rise 1.6% to a 1.220 mln pace in October after a 5.3% decline to 1.201 mln (was 1.201 mln) in September. Permits are expected to be flat at 1.270 mln in October.
- Inflation Report Hearings (GBP) –The BOE Governor and several MPC members testify on inflation and the economic outlook before the Parliament’s Treasury Committee.
Wednesday – 21 November 2018
- European Commission decision on Italy (EUR) – The European Commission will issue its assessment on Eurozone’s draft budget plan, including Italy’s.
- Durable Goods (USD, GMT 13:30) – Durable Goods is the leading indicator of production in the US. October Durable Goods orders are expected to decline to -1.8%, following a 0.8% rise in September.
Thursday – 22 November 2018
- United States – Thanksgiving Day – US Markets closed
- ECB Monetary Policy Meeting Accounts (EUR, GMT 12:30) – The ECB Monetary Policy Meeting Accounts provide information with regards to the policymakers’ rationale behind their decisions. At the same time, the minutes from the last ECB meeting acknowledge that external risk factors are predominantly tilted to the downside, but at least so far officials stuck to the view that the overall risk was still balanced.
Friday – 23 November 2018
- Markit Composite and Manufacturing PMI (EUR, GMT 09:00) – The PMI Indices are expected to continue above 50, but slightly decline to 52.9 and 51.9 respectively, according to consensus expectations.
- Consumer Price Index and Core Retail Sales ex Autos (CAD, GMT 13:30) – Retail sales are expected to have increased in Canada, with consensus forecasts suggesting that a 0.2% growth should be registered, compared to -0.4% in August. The Canadian CPI index is also on tap, released last month at 2.2% y/y in September.
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Andria Pichidi
Market Analyst
HotForex
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