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What’s Happening This Week?

What’s Happening This Week?

The US jobs number cAMe out on Friday, missing by over 50%. The addition of 210,000 jobs for the month of November in AMerica was much lower than anticipated, and has some traders concerned. This has been a volatile week in general, especially as Jerome Powell suggested in front of Congress that it “was time to drop the word transitory.” In other words, the Federal Reserve has finally admitted inflation is taking hold.

The week ahead, Omicron will be at the forefront of investors’ minds, and will likely move investors to a risk off mode, while they wait and watch how this variant can be kept in check by current vaccines. Rising prices will also be watched closely.

We’ll have CPI data showing the inflation levels from China and the US, with prices for both expected to rise. We’ll also have rate decisions from Australia and Canada, with no changes to the current policy expected. This week US is the tail end of the Q3 earnings season in the US. GAMestop and Oracle will be reporting and we will also have trading statements from Rolls Royce and British AMerican Tobacco.

Events

Monday

9:30 AM – UK construction PMI (November)

Tuesday

3:00 AM – China trade data

3:30 AM – RBA rate decision

10:00 AM – German ZEW index

1:30 PM – US trade balance

Wednesday

3:00 PM – Bank of Canada rate decision

3:30 PM – US EIA crude oil inventories

Thursday

1:30 AM – China CPI

Friday

7:00 AM – UK balance of trade, GDP (October)

1:30 PM – US CPI (November)