USD - Major events in the week ahead

Friday, Nov 13 2015

Events that marked the week:

On Thursday Unemployment Claims figures were released. In the week ending November 7, the advance figure for seasonally adjusted initial claims was 276,000, unchanged from the previous week's unrevised level. Analysts were predicting decrease to 270,000. The 4-week moving average was 267,750, an increase of 5,000 from the previous week's unrevised average of 262,750.

Friday brought Retail Sales, PPI and Consumer Sentiment figures. Sales at U.S. retailers rose less than forecast in October as consumers pocketed the money saved after fueling up their cars. Purchases increased 0.1% after being little changed in September, Commerce Department figures showed Friday in Washington. The median forecast of 84 economists called for a 0.3% gain. Receipts at service stations dropped for a fourth consecutive month as gasoline prices declined. Seven of 13 major retail categories showed gains last month, led by building-material stores, restaurants and non-store merchants, which include Internet sales, according to the report from the Commerce Department.

U.S. wholesale prices unexpectedly declined in October for a second month, depressed by falling costs of food costs and new model light trucks. The 0.4% drop in the producer-price index followed a 0.5% decrease in September that was the biggest in eight months, Labor Department figures showed Friday. The median forecast in a projected a 0.2% gain. The gauge was down 1.6 percent from the year before, the most in records back to November 2010.

Consumer sentiment climbed more than forecast in November as Americans took heart in lower interest rates and store discounts. The University of Michigan’s preliminary consumer sentiment index for this month rose to 93.1, a four-month high, from 90 in October, a report showed Friday. The median projection called for a reading of 91.5.The gain in confidence was propelled by those in the bottom two-thirds of the pay scale as a firming job market and cheap fuel costs made for the most-favorable income expectations in almost nine years. That bodes well for the holiday-shopping season after retail sales were weaker than projected last month.

Next week markets will be looking at:

Empire State Manufacturing Index (Monday 14:30)

CPI (Tuesday 14:30)

Industrial Production (Tuesday 15:15)

Building Permits/Housing Starts (Wednesday 14:30)

Unemployment Claims (Thursday 14:30)

Philly Fed Manufacturing Index (Thursday 16:00)

More in this category: « Consumer Sentiment at a four-month high New Motor Vehicle Sales fell 3.6% in October »