The end of November and beginning of December will be full of statistics and news, so that the market will have little time for boredom.
Brent: all eyes on OPEC+
The oil sector has been attracting a lot of attention recently. This week, OPEC+ will have a conference, and there the organization can agree on a pause in returning oil volumes to the market, as long as the new strain of coronavirus can influence the consumption of energy carriers. Brent price might stabilize.
USD: employment statistics will help
Check out the flow of statistics on the employment market in the USA that is going to appear one of these days. The ADP Non-Farm Employment Change in November must have grown by 515 thousands, whipe the NFP — by 500 thousands. The better the data, the stronger becomes the USD.
EUR: inflation will strike
This week, the Euro zone will publish the prelim inflation in November, among other things. According to the forecast, the CPI might have grown to 4.4% y/y. This is more than double the goal. High inflation rate might affect the EUR positively.
China: statistics will support risky assets
This week, China is issuing the manufacturing PMI in November, which is forecast to have grown. The stronger the Chinese reports, the better for risky assets. This year, China is really becoming an economic locomotive.
JPY: there is demand
Japan is going to publish the unemployment rate in October that might have remained at 2.8%. Also, among other things, prelim industrial production in October is due. It is expected to recover after a slump in September, which is not bad for the Japanese economy. The JPY will depend more on the global attitude to risk.
The post A Week in the Market (29.11 – 05.12): Time for Oil and Statistics appeared first at R Blog – RoboForex.