Weekly Economic Events Calendar for U.S. and European Traders (November 25–29, 2024)
The upcoming week is packed with significant economic events that could influence financial markets in the U.S. and Europe. Traders should pay close attention to the following key indicators and reports.
Monday, November 25
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10:00 GMT: Germany – Ifo Business Climate Index for November. This indicator reflects the business sentiment in Germany and can impact the euro's exchange rate.
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14:30 GMT: U.S. – Chicago Fed National Activity Index for October. This provides insight into the overall economic activity in the U.S.
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16:30 GMT: U.S. – Dallas Fed Manufacturing Business Index for November. This reflects the health of the manufacturing sector in the Dallas region.
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Central Bank Speeches: Lane and Nagel from the European Central Bank (ECB) are scheduled to speak. Their comments may offer clues about future ECB monetary policy.
Impact on U.S. and Europe: The release of the Ifo index may influence the euro, affecting trade balances and investment flows between the U.S. and Europe. U.S. data can sway investor sentiment globally, impacting European markets as well.
Tuesday, November 26
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04:15 GMT: China – 1-year Medium-Term Lending Facility (MLF) Rate Decision. Changes in China's monetary policy can affect global commodity markets.
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15:00 GMT: U.S. – S&P/Case-Shiller Home Price Index for September. This measures the change in the value of the U.S. residential real estate market.
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16:00 GMT: U.S. – Conference Board (CB) Consumer Confidence Index for November, New Home Sales for October, and Richmond Fed Manufacturing Index for November. These provide insights into consumer sentiment and economic health.
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20:00 GMT: U.S. – Federal Open Market Committee (FOMC) Meeting Minutes. Investors will look for hints on future Federal Reserve actions.
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21:30 GMT: U.S. – API Weekly Crude Oil Stock Report. Changes in oil inventories can influence oil prices.
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ECB Speech: McCaul from the ECB is scheduled to speak.
Impact on U.S. and Europe: China's monetary policy decisions can influence global demand for commodities, affecting European exporters. U.S. housing and consumer confidence data can impact market expectations for economic growth, influencing both U.S. and European markets. The FOMC minutes may provide insights into future interest rate paths, affecting global financial conditions.
Wednesday, November 27
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04:00 GMT: New Zealand – Reserve Bank of New Zealand (RBNZ) Interest Rate Decision.
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04:30 GMT: China – Industrial Profits for October.
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05:00 GMT: New Zealand – RBNZ Press Conference.
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11:30 GMT: Germany – GfK Consumer Climate for December.
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13:30 GMT: U.S. – Initial Jobless Claims, Durable Goods Orders for October, Preliminary GDP for Q3 2024, Trade Balance for October, and Personal Consumption Expenditures (PCE) Price Index for October.
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15:45 GMT: U.S. – Chicago PMI for November.
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16:00 GMT: U.S. – Pending Home Sales for October.
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16:30 GMT: U.S. – EIA Natural Gas Storage Report.
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17:00 GMT: U.S. – Baker Hughes Oil Rig Count.
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ECB Speech: Lane from the ECB is scheduled to speak.
Impact on U.S. and Europe: The release of U.S. GDP and PCE data will provide insights into economic growth and inflation, influencing Federal Reserve policy expectations. German consumer climate data can affect the euro and European market sentiment.
Thursday, November 28
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U.S.: Thanksgiving Day – Markets Closed.
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13:00 GMT: Eurozone – Consumer Confidence for November.
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14:00 GMT: Turkey – Central Bank Meeting Minutes.
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15:00 GMT: Germany – Preliminary Consumer Price Index (CPI) for November.
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Central Bank Speeches: Bullock from the Reserve Bank of Australia, and Elderson and Lane from the ECB are scheduled to speak.
Impact on U.S. and Europe: The U.S. market closure may reduce global market liquidity, potentially increasing volatility. Eurozone consumer confidence and German inflation data can influence ECB policy expectations and the euro's value.
Friday, November 29
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09:00 GMT: Switzerland – GDP for Q3 2024.
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10:00 GMT: Eurozone – Preliminary CPI for November.
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10:30 GMT: UK – Bank of England (BoE) Meeting Minutes.
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13:30 GMT: Canada – GDP for Q3 2024.
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ECB Speeches: Nagel and De Guindos from the ECB are scheduled to speak.
Impact on U.S. and Europe: Eurozone inflation data will be crucial for assessing ECB policy direction. UK BoE minutes may provide insights into future monetary policy, affecting the pound and European markets. Canadian GDP data can influence the Canadian dollar and trade relations with the U.S.
Recommendations for Traders:
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Monitor Macroeconomic Data: Key releases such as the German Ifo index, U.S. GDP, and Eurozone CPI can significantly impact currency and equity markets.
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Pay Attention to Central Bank Communications: Speeches and meeting minutes from the ECB, Federal Reserve, and BoE may offer clues about future monetary policy, influencing market expectations.