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USD - Major events in the week ahead

Saturday, Nov 12 2016
USD - Major events in the week ahead

Events that marked the week:

On Thursday Unemployment Claims figures were released. In the week ending November 5, the advance figure for seasonally adjusted initial claims was 254,000, a decrease of 11,000 from the previous week's unrevised level of 265,000. The 4-week moving average was 259,750, an increase of 1,750 from the previous week's revised average. The previous week's average was revised up by 250 from 257,750 to 258,000. There were no special factors impacting this week's initial claims. This marks 88 consecutive weeks of initial claims below 300,000, the longest streak since 1970.

Focus of the Wednesday's session was on US Presidential Elections results. Donald Trump has stunned the world by defeating Hillary Clinton to be elected the 45th president of the United States in one of the most divisive elections in modern US history. The triumphant billionaire walked on stage to deliver his victory speech in New York to chants of "USA, USA!" after crucial victories in swing states such as Florida and North Carolina took him beyond the 270 Electoral College votes required to take The White House. The celebrity businessman and political novice pledged to bind the wounds of division and called on Republicans and Democrats to come together after a "nasty" presidential race. Mr Trump paid tribute to his rival for a hard-fought campaign and promised to be "president to all Americans".

 

Friday brought Consumer Sentiment figures. Consumer confidence rose to a five-month high in early November as Americans became more upbeat about the economy in the days before the presidential election concluded. The University of Michigan said Friday that its preliminary index of sentiment for the month climbed to 91.6 from 87.2 in October. The median projection in a Bloomberg survey called for 87.9. The report also showed year-ahead inflation expectations rose the most since early 2015. Job and income gains helped to boost assessments of their finances, underscoring forecasts of sustained consumer spending approaching the holiday-shopping season.

 

This week markets will be looking at:

 

Retail Sales (Tuesday 14:30)

Empire State Manufacturing Index (Tuesday 14:30)

PPI (Wednesday 14:30)

Industrial Production (Wednesday 15:15)

CPI (Thursday 14:30)

Unemployment Claims (Thursday 14:30)

Philly Fed Manufacturing Index (Thursday 14:30)

Building Permits/Housing Starts (Thursday 14:30)

More in this category: « US Consumer Sentiment up to a 5 month high China's Industrial Production rose less than expected »

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