Weekly Outlook: 2017, November 12 - November 19

The US dollar was somewhat on the backfoot in a relatively slow week. Will it continue sliding? The upcoming week features the all-important inflation and retail sales figures from the US as well as housing data and more. Here are the highlights for the upcoming week.

1. FOMC’s Harker talks: Monday, 00:10. Philly Fed President Patrick Harker will speak early in the week and can have an outsized impact due to low liquidity.
2. German GDP: Tuesday, 7:00. A revised figure for the all-European number will be influenced by this publication.
3. UK inflation: Tuesday, 9:30. 3.1% is forecast now.
4. Yellen, Draghi, Carney, and Draghi speak Tuesday, 10:00. The governors of the US FED, the ECB, the BOE and the BOJ will all speak at a panel at the ECB’s conference in Frankfurt. The topic is communication, which has been an important part of central banks’ policies. Any comments about these all-important CBs policies could impact the USD, EUR, GBP, and the BOJ. Draghi will also speak on Friday at 8:30, but the panel with his peers on Tuesday is more important.
5. US PPI: Tuesday, 13:30. Headline PPI is expected to rise by 0.1% and core PPI by 0.2%.
6. Japanese GDP: Tuesday, 23:50. A slower growth rate of 0.4% is projected now.
7. US CPI: Wednesday, 13:30. Headline CPI is expected to rise by 0.1% m/m and core CPI by 0.2% m/m.
8. US retail sales: Wednesday, 13:30.
9. Australian jobs report: Thursday, 00:30. An increase of 18.9K is estimated and the unemployment rate is forecast to remain unchanged at 5.5%.
10. FOMC’s Brainard talks: Thursday, 14:30. Lael Brainard is a permanent voter at the FOMC. She does not make many public appearances and her opinions certainly matter. Her speech at Ann Arbor could provide hints about future monetary policy.
11. US housing data: Friday, 13:30. Small rises are likely now: building permits to 1.25 million and housing starts to 1.19 million.

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