A Week in the Market (15.11 - 21.11): Flow of Statistics Again
One more week of November will bring us a flow of statistics that will become catalysts for the currency market.
Brent: sharp price movements are possible
This week, the International Energy Agency will publish its monthly report on the oil market. The most interesting part is the demand-supply balance. If the market gets a positive forecast on global crude oil production, Brent prices might go down.
USD: the key event of the week are sales statistics
The USA are preparing to publish a retail sales report for October. The value could have grown by 1.1-1.3% m/m. If the forecast coincides with reality, this will be the third month when the value is going. For the USD, this is a good sign.
Central banks: no stopping
This new week, the CBs of the Philippines, South Africa, Indonesia, and Turkey are having conferences. In the last case, things are not that clear, yet this time, there are no changes in the monetary policy expected. Stable credit and monetary politics of important Central banks and neutral comments will create calm atmosphere for risky assets.
EUR: the ECB will show a report on financial stability
The ECB will publish a report on financial stability. Investors will be looking for signs of any changes in the credit and monetary policy, though it is not likely that the market will find anything new in the report. If the tone of the ECB is neutral, the EUR will keep the course.
GBP: all eyes on employment statistics
Great Britain is preparing statistics on the employment market for September and October. The unemployment rate in September could remain without a change at 4.5%, but the average wage over the three months ending in September could keep growing. This would be great news for the GBP.