What’s in store for markets this week

November 13, 2017

Another busy week ahead, with plenty of data set for release from around the world. This should ensure some volatility follows.

The EUR/USD bumped up slightly from this time last Friday, but it looks like it is trading in a tight range. It is currently trading at $1.1660, up from $1.1641 on Friday. The GBP/USD pair is also trading in a tight range, with the GBP still vulnerable to movements after the last interest rate rise by the BoE. It has ticked up however, trading at $1.3178, up from $1.3147 it was trading at this time last Friday.

US stocks were a mixed bag, the NASDAQ being the only major US stock to end the session in positive territory (albeit flat). It added 0.89 points (+0.01%) to close at 6,750.94. The S&P 500 was flat as well, although it shaved 2.32 points (-0.09%) to close at 2,582.30. The Dow dropped 39.73 points (-0.17%) to close at 23,422.21. European stocks were worse than their US counterparts, finishing lower at the end of trading. The DAX was the best of the worst, losing 55.09 points (-0.42%) to close at 13,127.47, while the FTSE dropped 51.11 points (-0.68%) to end the session at 7,432.99.

Looking at the week ahead and there is plenty to keep trader’s interest. Donald Trump is on the final leg of his tour of Asia, where he is currently in the Philippines. It remains to be seen whether any major economic deals will be done in the next couple of days while he is over there. Looking ahead to the rest of the day and the rest of the week:

Today – Japanese Prelim Machine Tool Orders, China Foreign Direct Investment, German WPI, US Mortgage Delinquencies & Federal Budget Balance, BoJ Governor Haruhiko Kuroda speaks, Canadian bank holiday

Tuesday – China Industrial Production, UK CPI, US PPI, ECB President Mario Draghi, BoE Governor Mark Carney, BoJ Governor Haruhiko Kuroda and US Fed Chair Janet Yellen, all speak

Wednesday – UK Average Hourly Earnings, US CPI & Core CPI, US Retail & Core Retail Sales, US Crude Oil Inventories

Thursday – Australian Unemployment Rate & Employment Change, UK Retail Sales, US Unemployment Claims, BoE Governor Mark Carney speaks

Friday – US Building Permits, Canadian CPI, ECB President Mario Draghi speaks