Week Ahead

Next week, in the US investors will be focused on the earnings reports, flash Markit PMIs, durable goods orders and housing data. Elsewhere, the ECB will meet but no changes are expected in the monetary policy and the People's Bank of China will provide an update on its new loan prime rate. Other important releases include: UK CBI factory orders distributive trade surveys; and Eurozone, Japan and Australia flash PMIs. Also in the spotlight will be central banks' decisions in Turkey, Sweden, Norway and Russia as well as Canadian federal election.

In the US, earnings season will be in the full swing. Also, durable goods orders are seen falling in September after posting an unexpected increase of 0.2 percent in the previous month, while Markit will be releasing flash PMIs, providing an updated picture on manufacturing and services activity during October. Other notable publications are existing and new home sales, and the final reading of Michigan consumer sentiment.

Other key data for America include: Canada retail sales; Mexico unemployment rate; and Chile interest rate decision. 

In the UK, the fate of the Brexit deal will take the spotlight follwed by CBI factory orders and business optimism, public sector net borrowing and UK Finance mortgage approval. Elsewhere in Europe, the ECB will decide on monetary policy, with markets anticipating no changes in borrowing costs. It will be the last meeting with Mario Draghi at the helm of the European Central Bank. On the economic data front, preliminary estimates of Eurozone consumer confidence are expected to show a deterioration in morale while Markit PMIs are likely to signal a slight improvement in services growth and factory output contraction is expected to ease. In Germany, Gfk consumer confidence is set to decrease in November and Ifo business climate will probably fall due to lower assessment of current conditions. Other key data includes: Germany producer inflation; France business morale; Spain balance of trade, unemployment rate and industrial orders; Turkey business and consumer survey; and interest decisions from Turkey, Sweden, Norway and Russia.

The People's Bank of China will provide an update on its new loan prime rate (LPR) on Monday, which was set at 4.2 percent on September 20th. The LPR, which replaced the central bank’s benchmark lending rate, was designed to steer borrowing costs lower for companies and support the economy amid ongoing trade tensions with the US. Investors will also focus on house price index. In Japan, the Jibun Bank will be releasing its flash PMIs for October, trade figures and all industry activity index. Meanwhile in Australia, the CommBank will be publishing its flash PMIs. Other highlights for the Asia-Pacific region include: South Korea Q3 GDP Growth advance estimate and consumer confidence; trade figures for New Zealand and Thailand; and Indonesia interest rate decision.

On the political front, the Canadian federal election is schedule to be held on October 21st. 


Stefanie Moya | stefanie.moya@tradingeconomics.com
10/19/2019 1:20:05 PM



 


Friday October 18 2019 Actual Previous
02:00 AM
CN
GDP Growth Rate YoY Q3 6% 6.2%
02:00 AM
CN
Fixed Asset Investment (YTD) YoY SEP 5.4% 5.5%
02:00 AM
CN
GDP Growth Rate QoQ Q3 1.5% 1.6%
02:00 AM
CN
Industrial Production YoY SEP 5.8% 4.4%
02:00 AM
CN
Retail Sales YoY SEP 7.8% 7.5%
08:30 AM
HK
Unemployment Rate SEP 2.9% 2.9%
11:30 AM
IN
Monetary Policy Meeting Minutes
02:00 PM
BR
Business Confidence OCT 59.3 59.4
02:00 PM
US
Fed George Speech
02:00 PM
US
Fed Kaplan Speech