This week, financial markets have been keeping a close eye on key reports on inflation, business activity, and retail sales from the Eurozone, UK, Canada, and the US. Here are the main events of the week.
Australia:
The Reserve Bank of Australia has released the minutes from its latest monetary policy meeting, providing insight into the regulator's next steps.
Eurozone:
The October inflation report showed stable price growth, with the core consumer price index (CPI) holding steady at 2.7% year-over-year, while the headline CPI rose from -0.1% to 0.3%.
Canada:
Inflation is experiencing moderate growth, with the core CPI increasing from 1.6% to 1.7% year-over-year, and the headline index rising from 0.0% to 0.4% month-over-month.
United States:
Building permits dropped to 1.416 million, below the expected 1.440 million, indicating a slowdown in construction activity.
Great Britain:
The inflation report revealed that the consumer price index increased to 0.6% month-over-month, up from 0.0%, fueling expectations of a potential shift in monetary policy.
United States:
Crude oil inventories rose by 0.545 million barrels, although the growth rate was much slower compared to the previous week, which saw an increase of 2.089 million barrels.
United States:
Initial jobless claims came in at 213,000, better than the expected 220,000, pointing to a strong labor market.
The Philadelphia Fed's manufacturing activity index dropped to -5.5 from 10.3, indicating a slowdown in the manufacturing sector.
Germany:
GDP grew by 0.1% quarter-over-quarter in the third quarter, preventing a recession. However, the economy shrank by 0.3% year-over-year.
The manufacturing PMI rose to 43.2, while the services PMI fell to 49.4, reflecting mixed economic sentiment.
Eurozone:
Business activity in November showed signs of weakening, with the manufacturing PMI dropping to 45.2 and the services PMI falling to 49.2, both staying below the neutral 50 mark.
Canada:
Retail sales data for September will be released, with the core index expected to improve slightly to -0.5%, up from -0.7% previously. Total sales are forecast to rise by 0.3%.
United States:
Business activity indices (PMIs) for November are set to be published. The manufacturing index is expected to remain at 48.5, while the services index is anticipated to reach 55.0.
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