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What’s Happening This Week?

What’s Happening This Week?

With Austria locking down its economy, there has been a bit of a “shot across the bow” of risk appetite late during the week. Germany is now starting to make the idea of lockdowns a possibility there as well, so we have seen a bit of a run towards safety. Inflation numbers coming out of Germany on Friday also saw manufacturing PPI numbers of over 18%! Needless to say, there has been a lot of concern on multiple fronts.

This week worldwide, Flash PMIs steal the show with French, German, eurozone, UK and US PMI’s for November on Tuesday.  All are expected to fall. On Wednesday, we have the German IFO business climate index, which is also likely to see a drop. Other events of note include Wednesday’s US durable goods and jobless claims, with orders expected to rise and claims expected to fall respectively, and the FOMC meeting minutes on Thursday, where we will hear discussions over tapering from the last meeting’s decision. More important earnings this week include Zoom and Gap from the US.

Events

Tuesday

8:15AM – 9AM – French, German, eurozone PMIs

9:30 AM – UK PMIs

2:45 PM – US PMIs

Wednesday

9:00 AM – German IFO index

1:30 PM – US durable goods orders

3:00 PM – US new home sales

3:30 PM – US EIA crude oil inventories

7:00 PM – US FOMC minutes

Thursday

US markets closed

7:00 AM – German GfK consumer confidence