The Week Ahead: 22nd – 26th November 2021

Overview for the Week Ahead

The world economy is approaching the northern hemisphere winter in disarray, unable to shake off the coronavirus crisis amid persisting supply disruptions, soaring prices, and resurgent outbreaks.

Global surveys of purchasing managers this week are likely to point that way. Among the outcomes anticipated by economists are slowing manufacturing and services activity throughout the eurozone and the U.K., and only modest improvement in the U.S.

With parts of Europe confronting renewed restrictions to contain another wave of the virus, China’s rebound fading, and rising infections taking hold in America too, much of the global economy is now staring at the threat of a second northern winter of woe, compounded by a cost-of-living squeeze amid surging gas prices and supply bottlenecks.

Europe is at the sharper end of the advanced-world wedge. Record infections in Germany might push authorities to announce new lockdowns, and Austria has already done just that. The continent is enduring a painful peak in consumer prices.

The US markets will be closed on Thursday in observance of the Thanksgiving holiday and an abbreviated session on Friday.

The Nasdaq is sitting in record territory after closing above 16,000 for the first time on Friday, while the Dow Jones Industrial Average and S&P 500 finished lower on global COVID-19 concerns.

Amazon will also kick off its Black Friday deals, which will run through Friday. Will Black Friday be enough to shed the covid shadow, at least for the short term, we will see over this week ahead.

This Week’s High Impact Events

The times below are GMT +2.

Monday 22nd November

No High Impact Events Today

Tuesday 23rd November

  • 10.15 – Europe – Flash Manufacturing PMI & Flash Services PMI

Potential instruments to Trade: EUR Crosses. 

  • 11.30 – UK – Flash Manufacturing PMI & Flash Services PMI

Potential instruments to Trade: GBP Crosses. 

  • 13.00 – UK – MPC Member Haskel Speaks

Potential instruments to Trade: GBP Crosses. 

  • 16.45 – US – Flash Manufacturing PMI & Flash Services PMI

Potential instruments to Trade: USD Crosses. 

Wednesday 24th November

  • 03.00 – NZD – Official Cash Rate, RBNZ Monetary Policy Statement, & RBNZ Rate Statement

Potential instruments to Trade: NZD Crosses.

  • 04.00 – NZD – RBNZ Press Conference

Potential instruments to Trade: NZD Crosses.

  • 11.00– Europe – German ifo Business Climate

Potential instruments to Trade: EUR Crosses.

  • 15.30 – US – Prelim GDP q/q

Potential instruments to Trade: USD Crosses. 

  • 17.00 – US – Core PCE Price Index m/m

Potential instruments to Trade: USD Crosses. 

  • 21.00 – US – FOMC Meeting Minutes

Potential instruments to Trade: USD Crosses. 

Thursday 25th November

  • 15.30 – Europe – ECB President Lagarde Speaks

Potential instruments to Trade: EUR Crosses.

  • 19.00 – GBP – BoE Gov. Bailey Speaks

Potential instruments to Trade: GBP Crosses.

  • All – Day – Thanksgiving Holiday

Friday 26th November

  • 10.00 – Europe – ECB President Lagarde Speaks

Potential instruments to Trade: EUR Crosses.

Saturday 27th November

  • US – Treasury Currency Report

Potential instruments to Trade: USD Crosses.

If you have any questions, please email our Education Centre.

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