Markets: What to expect this week? – Deutsche Bank

Analysts at Deutsche Bank suggest that with it being Veterans Day in the US (US stock market open but bond market is closed), it's a quiet start to the week.

Key Quotes

“Tuesday: There is no data of note in Asia on Tuesday. In Europe, we get Germany's final October CPI and November ZEW survey, the UK's September/October employment report, and France's preliminary Q3 wages and private sector payrolls data. In the US, we get the October NIFB small business optimism index reading and October monthly budget statement. Late in the night, we get Japan's preliminary Q3 GDP report. Away from the data, the Fed's Kashkari and Brainard, and ECB's Lautenschlaeger are due to speak. Tuesday marks the deadline that Italy is due to respond to the EU with its new 2019 budget. German Chancellor Angela Merkel will also speak to the European Parliament on “The Future of Europe,” while the ASEAN summit kicks off.”

“Wednesday: It's a busy day for data on Wednesday with the highlights being Germany and the Euro Area's preliminary Q3 GDP prints, and US October CPI report. Overnight, we get China's October retail sales, industrial production and fixed investments data along with Japan's final September industrial production. In Europe, we also get final October CPI reports for France, Spain and the UK, the Euro Area's September industrial production and Q3 employment data. Also worth noting are scheduled comments from the Fed's Powell, Kaplan, and Quarles, and Bundesbank President Weidmann.”

“Thursday: The main highlight on Thursday is likely to be US retail sales data for October. Prior to this, overnight we get China's October new home prices. In Europe, we get EU27 October car registrations, the Euro Area's September trade balance and the UK's October retail sales report. In the US, we get November Empire manufacturing and the Philadelphia Fed business outlook along with the October import price index reading, latest weekly initial jobless claims and continuing claims, and September business inventories. The Fed's Powell, Quarles, and Kashkari, and ECB's de Guindos and Coeure will all be speaking at different times during the day too. The APEC summit will also kick off. The US International Trade Commission is also likely to submits its report to President Trump and Congress on the likely impact of USMCA on the US economy.”

“Friday: It's a quiet end to the week on Friday. In Europe, we get the final October CPI revisions for the Euro Area and Italy. In the US, we get October industrial production, manufacturing production and capacity utilization along with the November Kansas City Fed manufacturing activity index. Away from the data, ECB President Draghi, Bundesbank President Weidmann, and the Fed's Evans will be speaking at different times during the day.”