Next Week At A Glance
The long-awaited and much anticipated December Fed meeting is next week, with the statement due on Wednesday night along with Janet Yellen’s farewell press conference. Wall Street’s expectation of a rise rise is close to 100%, so what the market will be looking for are clues to the speed of 2018 rate rises.
Next week also brings meetings of both the ECB and Bank of England, subsequent to the Fed. Mario Draghi typically makes any major changes at the December meeting, while the BoE governor has been threatening a rate rise for some time now. US tax is still the issue but global interest rates will take centre stage next week.
China releases November trade data today, inflation tomorrow and industrial production, retail sales and fixed asset numbers next Thursday.
The US will see inflation numbers ahead of the Fed meeting and later in the week, retail sales, industrial production and the Empire State manufacturing index. Friday is a quadruple witching derivatives expiry on Wall Street.
In Australia we’ll see the NAB business confidence survey, the Westpac consumer confidence survey and the November jobs numbers. The RBA governor will speak on Tuesday.
The S&P/ASX index changes to be announced today become effective next Friday.
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