5 Things You Should Know About The Markets This Week
1. U.S. New Home Sales (Oct) – Mon, Nov. 27
New Home Sales measures how many single-family homes were sold during the previous month in the U.S. This report tends to have an impact on USD pairs as it is considered an indicator of economic growth. Home sales in the U.S. came in strong for September but the forecasts point to a lower reading for October. It is important to note that a lower than expected reading at 15:00 GMT today, could push USD pairs lower.
2. U.K. Gross Domestic Product for Q3 – Tue, Nov. 28
U.K.’s GDP is seen as the primary indicator of economic health and can therefore greatly affect the price of the sterling. Last Thursday, third quarter GDP was confirmed to have undergone only a 0.4% expansion. This Tuesday, at 9:30 GMT, GDP is expected to come in a bit lower at 0.3% which could have a negative effect on GBP pairs.
3. U.S. Gross Domestic Product for Q3 – Wed, Nov. 29
Forecasts point to a higher US GDP for Q3 this Wednesday at 3.2%, versus a previous 3.0 percent. It should be noted that U.S. GDP has been pointing to a growing economy since May. The latest U.S. GDP reading is expected to be released at 13:30 GMT this Wednesday and a higher than anticipated GDP could boost the USD against its rivals.
4. German Unemployment Change (Nov) – Thu, Nov.30
German Unemployment Change measures the change in the number of unemployed people during the previous month. Germany’s unemployment rate held steady at a record low in October, bolstering optimism over the health of the eurozone’s largest economy. Another lower than expected reading, this Thursday at 9:00 GMT, can push the EUR higher.
5. U.K. Manufacturing PMI (Nov) – Fri, Dec.1
The Manufacturing Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. Any reading above 50 indicates expansion in the manufacturing sector. Manufacturing PMI is watched closely by traders as it is considered a leading indicator of overall economic performance. The UK manufacturing sector continued to expand at a solid pace in October but forecasts point to a lower reading at 55.8 for November, which could be a negative signal for GBP pairs. U.K.’s Manufacturing PMI is expected to be released this Friday at 9:30 GMT.
You can find and trade all of the above mentioned equities and commodities on BDSwiss Forex/CFD platforms.
Source: Investing.com, BDSwiss Economic Calendar
