The Eurozone will publish the Indicator of GfK Consumer Confidence on November 25, at 09:00 GMT+2.
Chinese data is full of surprises
China will publish manufacturing and non-manufacturing PMIs on December 31, at 3:00 MT time.
Instruments to trade: USD/CNH, EUR/CNH
Manufacturing and non-manufacturing PMIs are indicators that show how businesses in China see the current situation in the industry. Their calculations are based on surveys of a big number of purchasing managers in the manufacturing and services industries. If the index is bigger than 50, the industry is expanding. Alternatively, if the index is lower than 50, the industry is contracting. Besides indicators' direct impact on the Chinese yuan, these indicators tend to determine the risk sentiment during the Asian trading session. Last time, both indicators came out higher than the forecasts. While manufacturing PMI reached 52.1 (vs. the forecast of 51.6), non-manufacturing PMI rose to 56.4 (vs. 56 points expected). Despite that, the CNH weakened back then. This time, due to the lack of events and pre-holiday mood, the situation may be completely different.
- If the indicators are higher than the forecasts, the CNH will strengthen;
- In case of an alternative scenario, CNH will weaken.
Hong Kong’s HK 50 index rose and the Chinese yuan edged up as traders assess the outcome of the first virtual meeting between US President Joe Biden and Chinese leader Xi Jinping.
US Retail Sales will be out on November 16 at 15:30 MetaTrader time (GMT+2). Get ready with us!
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.