Monday, November 22 This week, Monday will be more eventful than usual. Instead of an absolutely empty economic calendar, market participants are waiting for data on home sales in the US secondary market in October. It is expected that sales volume will decrease by 1.0%, which will indicate a decline in consumer activity and put pressure on the greenback rate. The UK will present statistics on the composite PMI index on Monday. The indicator should remain at the same level of 54.1 points. Tuesday, November 23 Tuesday will be a very busy day, as preliminary estimates of business activity indices are published in many countries. It will all start with Australia, where all indices are expected to grow, without exception, which will cause the Australian dollar to rise. But in the eurozone, a decline in all indices is predicted, which will result in a weakening of the single European currency. A similar situation is expected in the UK, so the pound will also be under pressure. However, with the beginning of the American session, the situation may change significantly – after the publication of business activity indices in the United States. Analysts expect a decline in absolutely all indicators, which will inevitably negatively affect the dollar exchange rate and allow other currencies to improve their position somewhat. Wednesday, November 24 Wednesday starts with a meeting of the board of the Central Bank of New Zealand: the regulator is likely to raise the refinancing rate again. And this will be a good reason for the impressive growth of the New Zealand dollar. Germany will present data on the IFO business climate index and business expectations in November. But the day will end with a whole block of statistics from the United States. Analysts expect quite multidirectional data. On the one hand, the volume of orders for durable goods should increase by 0.3%. Although this is not much, it still indicates a future growth in consumer activity. On the other hand, sales of new homes should decrease by 2.0%, which is quite impressive. Therefore, most likely, the data will level each other. Statistics on applications for unemployment benefits, which are usually published on Thursday, will also be presented on Wednesday (due to the weekend in the US on Thursday). Experts predict a very slight reduction in the number of both initial and repeated requests, which will have no impact on the market. The minutes of the FOMC meeting will be published in the evening. Thursday, November 25 Thursday will be the quietest day of the trading week, since the macroeconomic calendar is almost empty, and in the United States it is a day off on the occasion of Thanksgiving. Friday, November 26 The week will end with retail sales data in Australia for October, and Switzerland will present GDP statistics for the third quarter. Recent data may show a slowdown in economic growth from 7.7% to 4.6%. And this is a fairly strong contraction of the economy, which will have a negative impact on the Swiss franc.
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