Weekly Economic Events Calendar for Traders in the U.S. and Russia (November 11 – November 15, 2024)

Weekly Economic Events Influencing Global and Russian Markets (November 11–15, 2024)

Monday, November 11

• U.S. — Veterans Day (Public Holiday)
• China — Singles’ Day (Largest Shopping Day)
• Russia — Trade Balance Data for September
  Expected to decline to $9.33 billion from a previous $15.5 billion surplus.

• U.S. Bond Market Closure: In observance of Veterans Day, the U.S. bond market will be closed, reducing liquidity in bond trading. This can create some volatility in other financial markets, including stocks and commodities.
• Fortune Global Forum: CEOs including Brian Cornell from Target ($TGT), Joey Wat from Yum China ($YUMC), and Kristin Peck from Zoetis ($ZTS) will participate in discussions, potentially sharing insights into corporate strategy and global market conditions.
• 3rd Anniversary of Rivian Automotive IPO: Shares of Rivian Automotive ($RIVN) are trading approximately 85% below their initial IPO price, marking three years since the company went public.
• Nasdaq Short-Term Interest Rate Report (00:00 MSK): Nasdaq will release its short-term interest rate outlook, providing guidance on rate expectations that could influence market sentiment.

Pre-Market Highlights:

• $MNDY - Monday.com Ltd (Report at 15:00 MSK): Reporting an expected increase of 29.9%.

Key Russian Reports:

• $SBER - Sberbank: Releases RAS (Russian Accounting Standards) report for the first 10 months of 2024.
• $PHOR - PhosAgro: Releases its Q3 2024 IFRS financial report.
• $AFLT - Aeroflot: Reports October 2024 operational results.

After-Market Reports:

• $GRAB - Grab Holdings Ltd Class A (Report at 02:45 MSK): Expected growth of 14.7%.
• $LAZR - Luminar Technologies Inc (Report at 00:00 MSK): Expected increase of 7.5%.
• $LYV - Live Nation Entertainment (Report at 00:05 MSK): Projected decrease of 3.0%.

Key Points to Watch:

In the U.S., Veterans Day is a national holiday, with banks closed but markets open. This will likely lead to reduced trading volumes, which may cause short-term volatility in U.S. markets. Meanwhile, in China, Singles’ Day, a major shopping event comparable to Black Friday, will significantly impact retail and e-commerce stocks like Alibaba and JD.com. The day’s sales results are essential for assessing consumer sentiment in China, especially amidst economic slowdown concerns.

Russia’s decreasing trade surplus could weaken the ruble and heighten concerns over economic stability, potentially influencing investor sentiment and Russian markets.

Tuesday, November 12

• UK — Unemployment Rate (September)
• Germany — ZEW Economic Sentiment Index (November)
• Eurozone — ZEW Economic Sentiment Index (November)
• U.S. — Producer Price Index (PPI, October)

Key Points to Watch:

The UK unemployment rate provides insight into labor market conditions, influencing inflation expectations. A stronger-than-expected figure could support the pound, while higher unemployment might pressure the Bank of England to adjust its stance.

Germany and the Eurozone’s ZEW Economic Sentiment indices are critical indicators of investor sentiment. Weak sentiment could negatively impact the euro, while strong readings may offer support.

The U.S. PPI reflects inflation trends in the manufacturing sector, which may influence the dollar and Fed rate expectations.

Wednesday, November 13

• UK — Consumer Price Index (CPI, October)
• Eurozone — Industrial Production (September)
• U.S. — Consumer Price Index (CPI, October)
• U.S. — EIA Crude Oil Inventories
• Russia — Preliminary Q3 GDP Data
  Forecasted growth of 4.1% compared to previous 2.4%.
• Russia — October Inflation Data
  Previous rate: 8.6% (YoY).

Key Points to Watch:

Inflation data from the UK and the U.S. will offer insights into potential monetary policy adjustments. High CPI in the UK could support expectations for rate hikes, potentially strengthening the pound. In the U.S., CPI data will also shape Fed rate expectations, impacting the dollar.

Eurozone industrial production reflects economic activity; low results may put pressure on the euro, while stronger data may support equity markets.

In Russia, an uptick in GDP growth could bolster Russian indices and the ruble, while high inflation may raise investor concerns and prompt the Central Bank to consider tightening policies. U.S. crude oil inventory data from the EIA will influence oil prices, affecting energy stocks and currencies like the ruble.

Thursday, November 14

• Australia — Unemployment Rate (October)
• China — Industrial Production and Retail Sales (October)
• Eurozone — Q3 GDP Second Estimate
• U.S. — Initial Jobless Claims
• Russia — Q3 Financial Reports from “Soflete” (SOFL) and “Renaissance Credit” (RENI)

Key Points to Watch:

Unemployment data from Australia and China will reflect economic health and impact the Australian dollar and Chinese market-related stocks. In China, retail sales data will also provide insights into consumer activity.

Revised GDP estimates for the Eurozone may shift sentiment on the euro and equity indices, with confirmation of growth providing support for European stocks.

In Russia, financial reports from major companies will reveal their economic health, influencing their share prices and investor interest.

Friday, November 15

• Japan — Q3 GDP
• UK — Retail Sales (October)
• U.S. — Retail Sales (October) and Industrial Production (October)
• U.S. — University of Michigan Consumer Sentiment Index (November, Preliminary)
• Russia — Tatneft Board Meeting on Dividends for Q3 2024

Key Points to Watch:

Japan’s GDP data will affect the yen and guide investors in assessing the country’s economic prospects.

Retail sales data from both the UK and U.S. will shed light on consumer activity amid high inflation. Slowing sales could negatively impact stock markets and national currencies.

U.S. industrial production data will gauge the manufacturing sector’s strength, while the Michigan Consumer Sentiment Index will reveal consumer outlooks, which may influence U.S. equities.

In Russia, Tatneft’s decision on dividend payouts will impact the company’s stock and attract investor interest in the energy sector.

Recommendations for Traders

For Russian Traders:

• Monitor Russia’s Inflation and GDP Data: Higher inflation may increase expectations for monetary tightening, while GDP growth will support the ruble and equities.
• Analyze Russian Corporate Earnings: Q3 earnings reports will provide insights into corporate performance, affecting stock values and market sentiment.
• Watch Dividend Announcements: Tatneft’s dividend decision could boost investor interest in energy stocks.

For Global Traders:

• Focus on U.S. and UK Inflation Data: These figures will shape Fed and Bank of England rate expectations, impacting currencies and stock indices.
• Track China and Eurozone Economic Data: Industrial production and retail sales in these regions offer insights into economic activity and will affect commodities and export-focused stocks.
• React to U.S. Oil Inventories: The EIA report on oil stocks may lead to volatility in oil prices, influencing energy stocks.

Main Reports This Week - U.S. and Russia: Timing + ExpectationsMain Reports This Week - U.S. and Russia: Timing + Expectations