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Economic Calendar | November 13 – 17


November, 13 2023
watermark Economic news

Monday, November 13


The only thing worth paying attention to at the beginning of a new trading week is the producer price index in Japan. It is expected to decrease from 2.0% to 1.9%. Theoretically, this should weaken the yen. However, due to the extremely soft monetary policy of the Bank of Japan, the impact of Japanese macroeconomic statistics on the market is minimal, so a significant reaction is not expected.


Tuesday, November 14


Tuesday will start with data on the labor market in the UK – the unemployment rate is expected to rise from 4.3% to 4.4%, which may weaken the pound. 


This will be followed by the most significant event of the week – the publication of inflation data in the United States. Consumer price growth is expected to accelerate from 3.7% to 3.8%. This could push the Federal Reserve to further raise the refinancing rate, probably as early as December. Such a development of events will contribute to the strengthening of the dollar.


Wednesday, November 15


Wednesday will be a particularly busy day in terms of macroeconomic data. It will all start with the UK, where inflation is expected to slow down from 6.7% to 4.9%, which may lead to a weakening of the pound. 


The euro will also go down after it, but the scale of the decline in the single euro currency will be much smaller, as it will be supported by data on industrial production. Analysts predict a slowdown in the decline from -5.1% to -3.2%. 


And during the US trading session, the dollar may lose ground due to a slowdown in retail sales growth from 3.8% to 2.1%.


Thursday, November 16


Data on the labor market in Australia on Thursday is unlikely to arouse interest among investors due to the unchanged unemployment rate. But industrial production in the United States may attract attention, since its growth rate of 0.1% is likely to be replaced by a decline of 0.5%. And this will cause the dollar to lose its positions.


Friday, November 17


The main event on Friday will be data on retail sales in the UK. Moreover, there are no forecasts among analysts on the dynamics of consumer activity, which adds intrigue. So anything can happen. But apparently, it will be about deepening the recession, which will negatively affect the pound itself. 


Then the statistics on inflation in Europe will be published, but it is unlikely that it will have at least some impact on the market, as it should confirm preliminary estimates. 


The week will end with data on producer prices in Canada, the growth of which by 0.6% is likely to be replaced by a decline of 1.2%, which will lead to a noticeable weakening of the Canadian dollar.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.