Markets focus on a busy Friday of economic releases, with flash PMI readings across Europe and the US providing fresh insight into economic momentum. UK retail sales and German GDP data set the tone in early trading, while US Michigan consumer sentiment will be closely watched for inflation expectations. Central bankers remain active with ECB President Lagarde and multiple board members scheduled to speak, while Fed’s Bowman closes the week. Markets digest Japan’s CPI data released earlier showing core inflation at 2.3% YoY in October.
Economic Data Releases (Times in GMT)
07:00 UK Retail Sales (Oct)
- MoM: forecast -0.3%; previous 0.3%
- YoY: forecast 3.4%; previous 3.9%
- Core MoM: forecast -0.3%; previous 0.3%
- Core YoY: forecast 3.3%; previous 4.0%
07:00 German GDP (Q3)
- QoQ: forecast 0.2%; previous 0.2%
- YoY: forecast -0.2%; previous -0.2%
08:15 France PMI Data (Nov)
- Manufacturing: forecast 44.6; previous 44.5
- Services: forecast 49.0; previous 49.2
- Composite: previous 48.1
08:30 Germany PMI Data (Nov)
- Manufacturing: forecast 43.1; previous 43.0
- Services: forecast 51.8; previous 51.6
- Composite: previous 48.6
09:00 Eurozone PMI Data (Nov)
- Manufacturing: forecast 46.0; previous 46.0
- Services: forecast 51.6; previous 51.6
- Composite: previous 50.0
09:30 UK PMI Data (Nov)
- Manufacturing: forecast 50.1; previous 49.9
- Services: forecast 52.3; previous 52.0
- Composite: previous 51.8
13:30 Canada Economic Data
- Retail Sales (Sep): forecast 0.3% MoM; previous 0.4%
- Core Retail Sales (Sep): forecast -0.5% MoM; previous -0.7%
- Manufacturing Sales (Oct): forecast -0.8% MoM; previous -1.3%
- Wholesale Sales (Oct): forecast 0.9% MoM; previous -0.6%
- New Housing Price Index (Oct): forecast 0.1% MoM; previous 0.0%
14:45 US PMI Data (Nov)
- Manufacturing: previous 48.5
- Services: previous 55.0
- Composite: previous 54.1
15:00 US Michigan Consumer Sentiment (Nov)
- Sentiment Index: forecast 73.0; previous 70.5
- Current Conditions: forecast 64.4; previous 64.9
- Expectations: forecast 78.5; previous 74.1
- 1-Year Inflation: forecast 2.6%; previous 2.7%
- 5-Year Inflation: forecast 3.1%; previous 3.0%
18:00 US Baker Hughes Rig Count
20:30 CFTC Positions Data
Central Bank Speakers
08:30 ECB President Lagarde
08:30 ECB’s De Guindos
11:15 ECB’s Tuominen
13:00 German Buba President Nagel
15:45 ECB’s Schnabel
23:15 Fed’s Bowman
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