Economic Calendar | December 6 – 10

Monday, December 6

The beginning of the week is traditionally accompanied by a relatively empty macroeconomic calendar. Only statistics on production orders in Germany and business activity in the construction sector in Germany and the UK can attract attention. The lack of news even plays into the hands of investors, since the market is likely to recover after the publication of Friday's report by the US Department of Labor, which disappointed the markets, showing employment growth of only 210 thousand.

Tuesday, December 7

Tuesday will begin with a meeting of the Board of the Reserve Bank of Australia, following which the parameters of monetary policy should remain unchanged. And this, in anticipation of tightening monetary policy from the Fed and the ECB, will look weak and put pressure on the Australian dollar. 

The Swiss franc will also be under pressure. The fact is that unemployment in Switzerland should rise from 2.5% to 2.6%. But the third estimate of the eurozone's GDP will probably be ignored, since it should completely coincide with the previous two. 

Germany will share data on the index of economic sentiment in December. And the United States and Canada will publish statistics on import and export volumes in October.

Wednesday, December 8

Perhaps the only thing worth paying attention to on Wednesday is the meeting of the Board of the Bank of Canada. As in the case of the Australian regulator, the parameters of monetary policy should remain unchanged. And again, given the expectation of a sharp tightening of monetary policy by the Federal Reserve, such a step will lead to a weakening of the Canadian dollar.

The United States on Wednesday will share data on the number of open vacancies in the labor market in October, as well as statistics on crude oil reserves. 

Thursday, December 9

On Thursday, attention should be paid only to applications for unemployment benefits in the United States, which will once again contribute to the strengthening of the US currency. It is expected that the number of initial requests may grow by 3 thousand, which is a very small amount. But the number of repeated requests should be reduced by 76 thousand. And this is already quite a lot, and indicates a further improvement in the situation on the US labor market.

Friday, December 10

A whole block of statistics from the UK will be published on Friday. Here are data on industrial production (the growth rate of which should slow down from 2.9% to 2.1%), and statistics on GDP, as well as reports on industrial production and the country's trade balance. 

However, all these data may be ignored, since US inflation data is published on Friday. It is expected that the growth rate of consumer prices should accelerate from 6.2% to 6.4%, which will further convince the market that the Federal Reserve will still sharply raise the refinancing rate in order to cool the raging inflation.