Overview for the Week Ahead

Stocks in London are set for a muted start to Monday’s session, easing off last week’s advance, after a mixed session in Asia overnight.

After a strong advance on Thursday, hitting a new post-virus high, the FTSE was tantalisingly close to the 7,403.92 mark, where it stood on February 21, 2020, just before Covid-19 worries started to batter stock prices.

In the US on Friday, Wall Street ended higher, with the Dow Jones Industrial Average ending up 0.5%, the S&P 500 up 0.7% and the Nasdaq Composite up 1.0%

The upcoming week for the US will be dominated by retail earnings and key manufacturing and housing data. President Biden will also host leaders from Canada and Mexico in the back half of the week as he looks to strengthen alliances and tackle global issues.

President Joe Biden will also meet virtually with Chinese President Xi Jinping on Monday. Tensions between the two countries have been building over issues including Taiwan and restrictions on sales of U.S. technology to China.

In commodities, oil fell as traders wait to see what Biden might do to alleviate gasoline prices amid growing criticism about the impact of rising costs. Aluminium and base metals retreated, in part on China’s property slowdown.

In Asia on Monday, the Japanese Nikkei 225 index closed up 0.6%. In China, the Shanghai Composite was down 0.2%, while the Hang Seng index in Hong Kong was up 0.1%. The S&P/ASX 200 in Sydney closed up 0.4%.

This Week’s High Impact Events

The times below are GMT +2.

Monday 15^th November

No High Impact Events Today

Tuesday 16^th November

• 02.30 – Australia – Monetary Policy Meeting Minutes

Potential instruments to Trade: AUD Crosses. 

• 04.30 – Australia – RBA Gov. Lowe Speaks

Potential instruments to Trade: AUD Crosses. 

• 15.30 – US – Core Retail Sales& Retail Sales m/m

Potential instruments to Trade: USD Crosses. 

• 16.15 – US – Industrial Production m/m

Potential instruments to Trade: USD Crosses. 

• 19.00 – US – FOMC Member Barkin Speaks

Potential instruments to Trade: USD Crosses. 

Wednesday 17^th November

• 09.00 – UK – CPI y/y

Potential instruments to Trade: GBP Crosses.

• 15.30 – US – CPI m/m

Potential instruments to Trade: USD Crosses.

• 16.10 – US – FOMC Member Williams Speaks

Potential instruments to Trade: USD Crosses.

• 17.30 – US – Crude Oil Inventories

Potential instruments to Trade: USD & CAD Crosses. 

• 19.40 – US – FOMC Member Waller Speaks

Potential instruments to Trade: USD Crosses. 

• 23.05 – US – FOMC Member Evans Speaks

Potential instruments to Trade: USD Crosses. 

Thursday 18^th November

• 04.00 – New Zealand – Inflation Expectations q/q

Potential instruments to Trade: NZD Crosses.

• 15.30 – US – Philly Fed Manufacturing Index & Unemployment Claims

Potential instruments to Trade: USD Crosses.

• 16.30 – US – FOMC Member Williams Speaks

Potential instruments to Trade: USD Crosses.

• 21.00 – US – FOMC Member Evans Speaks

Potential instruments to Trade: USD Crosses.

Friday 19^th November

• 09.00 – UK – Retail Sales m/m

Potential instruments to Trade: GBP Crosses.

• 10.00 – Europe – ECB President Lagarde Speaks

Potential instruments to Trade: EUR Crosses.

• 15.30 – Canada – Core Retails Sales & Retail Sales m/m

Potential instruments to Trade: CAD Crosses.

• 17.45 – US – FOMC Member Waller Speaks

Potential instruments to Trade: USD Crosses.

• 19.15 – US – FOMC Member Clarida Speaks

Potential instruments to Trade: USD Crosses.

Saturday 20^th November

• US – Treasury Currency Report

Potential instruments to Trade: USD Crosses.

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