Rather quiet week? Spain & Catalonia, Some data releases from US/EU and more

November 7, 2017

Quiet week from the Eurozone and the U.S.

Rather quiet week? Spain & Catalonia, Some data releases from US/EU and more

This article is originally referred from Orbex Market Preview

The economic data from the Eurozone and the United States slows down with most of the data relegated to only second tier data.

Movements from US

From the U.S. the week ahead will see the release of JOLTS labor market data which stands out. The data will cover the period of September which could be interested.

Fed member speeches are lined up over the week as well. This includes the NY Fed President Dudley who is known to be slightly hawkish in his outlook and could give a push to the U.S. dollar.

Other member speeches includes governor Quarles who was newly appointed and is also a voter on the FOMC. So far, Quarles has remained mum on his views about rate hikes.

Data releases Eurozone

Data from the Eurozone takes a back seat after last week saw the release of the preliminary GDP numbers. Data showed that economic activity in the Eurozone expanded strongly in the third quarter.

The second tier data this week will include the final services PMI numbers for the month of October.

The German industrial production and industrial orders data are also lined up over the week. This stands out amid a quiet week with expectations calling for a slightly weaker print.

Spain and Catalonia

The ongoing political developments in Spain remain in the background but are expected to affect the markets to a certain extent.

Last week, eight ministers from Catalonia who were sacked were ordered by the Spanish high court to be arrested as the tussle between Spain and Catalonia continues to drag.

Spanish prosecutors are also pushing for the arrest of the Catalonia leader, Carles Puigdemont which could result in repercussions.

Original Source: Orbex Market Preview

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