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Forex Weekly Outlook – November 26-30

Forex Weekly Outlook November 26-30

The week after Thanksgiving will be in the sign of a meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping that takes place on Friday.

The G20 Buenos Aires summit is an important event that could have a meaningful impact on the economy and markets. The approaching week also brings a few additonal key events that we will review right now.

Monday

The Munich-based Ifo Insitute is will provide a glimpse at German business climate. The Ifo’s business climate index is expected to descrease from 102.8 to 102.3 in November. ECB President will testify before the European Parliament’s Economic and Monetary Affairs Committee. However, it is not expected that Draghi will provide new views on the monetary policy outlook.
Mark Carney, the leader of the UK central bank, will speak at an event in London.

Tuesday

The U.S.-based Conference Board will release November consumer confidence data. In October, confidence hit an 18-year high.
New Zealand, the 53rd-largest national economy in the world is to unveil its latest trade data.

Wednesday

Fed Chairman Jerome Powell will give speech in New York.
The U.S. will publish revised data of the third-quarter GDP growth, and a report on new home sales.

Thursday

Australia is to publish figures on private capital spending, while New Zealand is to publish data on business confidence.
The important event in euro zone will be the publishing of preliminary inflation data for Germany in November.
As for the United States, the Federal Reserve will publish the minutes of its November meeting.

Friday

As we already mentioned, Presidents Trump and Xi Junping will meet in Buenos Aires on Friday. There are hopes that the meeting will result in calming of tensions which have caused the huge share price drops, especially in US tech stocks.

On this day, Canada will give a glimpse on its GDP growth and raw material price inflation.