Monday Outlook – Beyond the US Elections

Welcome to easyMarkets weekly outlook starting this Monday 14 November. We’ll be looking at the week’s key economic events on the financial calendar covering Monday to Thursday. Be sure to catch up with our Friday morning report that looks back at how the events played out and with a look at Friday’s events. With the result of the US elections being factored into the markets, expect to see volatility high for some time. However, for this week we’ll be focusing on the US dollar, the euro and the Great British pound.

Event: ECB President Mario Draghi’s speech

Date: Monday 14 November 2016

Markets affected: EUR/USD

Trending hashtags: #ecb, #usd, #eur

The European Central Bank (ECB) President Mario Draghi is expected to speak during a Memorial Event in honour of former President Ciampi organised by the Ministry of Economy and Finance in Rome, Italy. There is a possibility that Mr. Draghi might discuss plans to extend the ECB’s asset purchasing programme when the ECB meet again in 08 December following the result of the U.S. presidential elections.

Event: UK Consumer Price Index

Date: Tuesday 15 November 2016 at 09:30 GMT

Markets affected: GBP/USD, EUR/GBP

Trending hashtags: #gbp, #usd, #uk, #inflation

The UK inflation level increased to 1% in September, its highest in almost two years. The reason for the surge was increases in clothing, hospitality, and fuel prices. However, in the scenario where the inflation level increases more than what the Bank of England is expecting, there is a possibility that consumers might not be able to cope with increased prices. Given the ongoing decrease of the pound, it costs more for the UK to import oil, however there is also the benefit of increased tourism which in turn saw the increases in the hospitality sector. UK inflation is expected to increase further to 1.1% in October.

Event: U.S. Retail Sales

Date: Tuesday 15 November 2016 at 13:30 GMT

Markets affected: EUR/USD

Trending hashtags: #us, #retail, #inflation

The U.S. Retail Sales in September increased by 0.6% following a decrease during the previous month by 0.1%. The increase in sales came mainly from the automobile sector and petrol stations while the September result is an indication of slow but steady growth, and was what analysts were expecting. Moreover, Retail Sales excluding autos for September were 0.5% and more than forecasts for a 0.4% increase. The expectation is for October Retail Sales to increase again by 0.6% while Retail Sales excluding autos are expected to increase by 0.5%.

Event: US Consumer price Index

Date: Thursday 17 November 2016 at 13:30 GMT

Markets affected: EUR/USD

Trending hashtags: #usd, #eur, #inflation, #cpi

The monthly US CPI index for September had its highest increase since April 2016 by 0.3% due to higher energy prices as inflation edges closer to the Federal Reserve’s target. However, the Core CPI, excluding food and energy, for September edged upwards by 0.1% although analysts were expecting a 0.2% increase. CPI for October is forecasted to increase by 0.4% and the index excluding food and energy for the same month by 0.2%.

Sources

https://www.ecb.europa.eu/press/weekly/html/index.en.html
https://www.ons.gov.uk/economy/inflationandpriceindices
https://www.census.gov/retail/index.html
http://www.bls.gov/news.release/cpi.nr0.htm

The post Monday Outlook – Beyond the US Elections appeared first on Forex.Info.

Source:: Monday Outlook – Beyond the US Elections

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