USD - Major events in the week ahead

Friday, Dec 11 2015

Events that marked the week:

On Tuesday JOLTS Job Openings figures were released. The number of job openings was little changed at 5.4 million on the last business day of October. Hires and separations were little changed at 5.1 million and 4.9 million, respectively. Within separations, the quits rate was 1.9% for the seventh consecutive month, and the layoffs and discharges rate was 1.2%. This release includes estimates of the number and rate of job openings, hires, and separations for the nonfarm sector by industry and by four geographic regions.

Thursday brought Unemployment Claims figures. In the week ending December 5, the advance figure for seasonally adjusted initial claims was 282,000, an increase of 13,000 from the previous week's unrevised level of 269,000. Analysts were anticipating decline to 266,000. The 4-week moving average was 270,750, an increase of 1,500 from the previous week's unrevised average of 269,250.

Friday was marked by PPI, Retail Sales and Consumer Sentiment figures. The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for November, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $448.1 billion, an increase of 0.2% from the previous month, and 1.4% above November 2014. Total sales for the September 2015 through November 2015 period were up 1.7% from the same period a year ago. The September 2015 to October 2015 percent change was unrevised from +0.1%. Retail trade sales were up 0.2% from October 2015, and up 0.7% above last year. Nonstore retailers were up 7.3% from November 2014 and food services and drinking places were up 6.5% from last year.

Separate report on the Producer Price Index for final demand showed that it increased 0.3% in November, seasonally adjusted. No change was expected. Final demand prices decreased 0.4% in October and 0.5% in September. On an unadjusted basis, the final demand index fell 1.1% for the 12 months ended in November, the tenth consecutive 12-month decline.The November rise in the final demand index can be traced to prices for final demand services, which advanced 0.5% In contrast, the index for final demand goods moved down 0.1%.

U.S. consumer sentiment inched up in December, but missed expectations, according to a report released on Friday. The Thomson Reuters/University of Michigan's preliminary December reading on the index was 91.8. That was higher than the previous month's reading of 91.3, but lower than expectations for 92.3. The index has average 92.9 this year, the highest since 2004, the report said. The data indicates that real consumer expenditures will grow by 2.8 percent in 2016 compared to 2015.

This week markets be looking at:

CPI (Tuesday 14:30)

Empire State Manufacturing Index (Tuesday 14:30)

Building Permits/Housing Starts (Wednesday 14:30)

Industrial Production (Wednesday 15:15)

Federal Funds Rate/FOMC Statement/FOMC Economic Projections (Wednesday 20:00)

Unemployment Claims (Thursday 14:30)

Philly Fed Manufacturing Index (Thursday 14:30)

Current Account (Thursday 14:30)

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