{"id":9800,"date":"2024-11-04T07:20:17","date_gmt":"2024-11-04T07:20:17","guid":{"rendered":"https:\/\/justmarkets.eu\/?p=9800"},"modified":"2024-11-04T07:22:54","modified_gmt":"2024-11-04T07:22:54","slug":"weekly-overview-2024-11-04","status":"publish","type":"post","link":"https:\/\/justmarkets.eu\/pl\/analytics\/weekly-overview-2024-11-04\/","title":{"rendered":"Week\u2019s main events (November 04 \u2013 November 08)"},"content":{"rendered":"\r\n<div class=\"ag-base_page ag-m-format-container\">\r\n<h1 class=\"ag-base_title-page\">Week&#8217;s main events (November 04 \u2013 November 08)<\/h1>\r\n<div class=\"ag-analytics-page ag-market-overview-page\">\r\n<p class=\"ag-analytics_text\"><span style=\"font-weight: 400;\">This is going to be an extremely volatile week. We will witness the US presidential election, the Fed, Bank of England, and Reserve Bank of Australia interest rate meetings. Finally, China&#8217;s National People&#8217;s Congress Committee will be meeting all week. The US presidential election will have far-reaching fiscal policy and global trade implications. We should expect increased volatility in stock indices and gold throughout Tuesday and the vote counting period. On Tuesday, the RBA will announce its decision, and Australia&#8217;s central bank is expected to keep the rate at 4.35%. Rather than Wednesday as usual, Thursday will see the US Federal Reserve&#8217;s monetary policy meeting, where a 0.25% rate cut is expected. Also, on Thursday, a 0.25% rate cut is expected from the Bank of England.<\/span><\/p>\r\n<div class=\"ag-analytics_title\">Monday, November 04<\/div>\r\n<div class=\"ag-analytics_title-list\"><span style=\"font-weight: 400;\">Monday will be relatively quiet for Asian and European indices and currencies. Among the events, we can highlight data on manufacturing activity in the Eurozone and Germany. It\u2019s a bank holiday in Japan.<\/span><\/div>\r\n<div class=\"ag-analytics_title-list__strong\">Main events of the day:<\/div>\r\n<ul class=\"ag-analytics_list\">\r\n<li><span style=\"font-weight: 400;\">\u2013 German Manufacturing PMI (m\/m) at 10:55 (GMT+2);<\/span><\/li>\r\n<li><span style=\"font-weight: 400;\">\u2013 Eurozone Manufacturing PMI (m\/m) at 11:00 (GMT+2);<\/span><\/li>\r\n<li><span style=\"font-weight: 400;\">\u2013 New Zealand RBNZ Financial Stability Report at 22:00 (GMT+2).<\/span><\/li>\r\n<\/ul>\r\n<div class=\"ag-analytics_title\">Tuesday, November 05<\/div>\r\n<div class=\"ag-analytics_title-list\"><span style=\"font-weight: 400;\">On Tuesday, the volatile fun will begin. The National People&#8217;s Congress Committee meeting will be scrutinized for further stimulus to the Chinese economy. Any additional stimulus will boost Asian indices, especially CHA50 and HK50. Next, the RBA meeting is expected to keep rates unchanged, which is positive for AUD. Next, Donald Trump and Kamala Harris will battle it out at the US open for the Oval Office. Although Harris entered the race with a decent lead, the gap has narrowed considerably in recent days, and the outcome of the election is now uncertain, but Trump retains a small lead. The US stock indices, US dollar currency pairs, and gold could be very volatile throughout the day and night as the votes are counted. On a separate note, New Zealand will release its quarterly unemployment report. A rise in unemployment could put additional pressure on the NZD.<\/span><\/div>\r\n<div class=\"ag-analytics_title-list__strong\">Main events of the day:<\/div>\r\n<ul class=\"ag-analytics_list\">\r\n<li>\u2013 Japan Services PMI (m\/m) at 00:00 (GMT+2);<\/li>\r\n<li>\u2013 China Standing Committee National People&#8217;s Congress;<\/li>\r\n<li>\u2013 Australia RBA Interest Rate Decision at 05:30 (GMT+2);<\/li>\r\n<li>\u2013 Australia RBA Rate Statement at 05:30 (GMT+2);<\/li>\r\n<li>\u2013 Switzerland Unemployment Rate (m\/m) at 08:45 (GMT+2);<\/li>\r\n<li>\u2013 UK Services PMI (m\/m) at 11:30 (GMT+2);<\/li>\r\n<li>\u2013 US Trade Balance (m\/m) at 15:30 (GMT+2);<\/li>\r\n<li>\u2013 Canada Trade Balance (m\/m) at 15:30 (GMT+2);<\/li>\r\n<li>\u2013 Eurozone ECB President Lagarde Speaks at 16:30 (GMT+2);<\/li>\r\n<li>\u2013 US ISM Services PMI (m\/m) at 17:00 (GMT+2);<\/li>\r\n<li>\u2013 New Zealand Unemployment Rate at 23:45 (GMT+2).<\/li>\r\n<li>\u2013 US Presidential Election (All Day);<\/li>\r\n<li>\u2013 US Congressional Elections (All Day).<\/li>\r\n<\/ul>\r\n<div class=\"ag-analytics_title\">Wednesday, November 06<\/div>\r\n<div class=\"ag-analytics_title-list\"><span style=\"font-weight: 400;\">On Wednesday, the market will take a breather after a busy Tuesday. However, stock indices and currency pairs with the US dollar may still be volatile amid counting votes in the US. Among the events on Wednesday, we can highlight the minutes of the Bank of Japan meeting and data on crude oil inventories.<\/span><\/div>\r\n<div class=\"ag-analytics_title-list__strong\">Main events of the day:<\/div>\r\n<ul class=\"ag-analytics_list\">\r\n<li><span style=\"font-weight: 400;\">\u2013 Japan Monetary Policy Meeting Minutes at 01:50 (GMT+2);<\/span><\/li>\r\n<li><span style=\"font-weight: 400;\">\u2013 China Standing Committee National People&#8217;s Congress;<\/span><\/li>\r\n<li><span style=\"font-weight: 400;\">\u2013 Japan Services PMI (m\/m) at 02:30 (GMT+2);<\/span><\/li>\r\n<li><span style=\"font-weight: 400;\">\u2013 German Services PMI (m\/m) at 10:55 (GMT+2);<\/span><\/li>\r\n<li><span style=\"font-weight: 400;\">\u2013 Eurozone Services PMI (m\/m) at 11:00 (GMT+2);<\/span><\/li>\r\n<li><span style=\"font-weight: 400;\">\u2013 UK Construction PMI (m\/m) at 11:30 (GMT+2);<\/span><\/li>\r\n<li><span style=\"font-weight: 400;\">\u2013 Eurozone ECB President Lagarde Speaks at 16:00 (GMT+2);<\/span><\/li>\r\n<li><span style=\"font-weight: 400;\">\u2013 Canada Ivey PMI (m\/m) at 17:00 (GMT+2);<\/span><\/li>\r\n<li><span style=\"font-weight: 400;\">\u2013 US Crude Oil Reserves (w\/w) at 17:30 (GMT+2).<\/span><\/li>\r\n<\/ul>\r\n<div class=\"ag-analytics_title\">Thursday, November 07<\/div>\r\n<div class=\"ag-analytics_title-list\"><span style=\"font-weight: 400;\">Thursday is expected to be a volatile day. The Bank of England will meet for its regular monetary policy meeting in the first half of the day. The BoE is expected to cut the rate by 0.25% because of lower inflation and weak economic indicators. It will be negative for the GBP. In the second half of the day, the ball will be passed to the FOMC, which is also expected to cut the rate by 0.25%. The non-farm payrolls report released on Friday showed that job growth nearly stopped in October, reinforcing expectations for a smaller rate cut. We should also not forget about the press conference, where Jerome Powell will give hints about further steps of the US Fed. Hints of more aggressive rate cuts could weigh heavily on the US dollar.<\/span><\/div>\r\n<div class=\"ag-analytics_title-list__strong\">Main events of the day:<\/div>\r\n<ul class=\"ag-analytics_list\">\r\n<li><span style=\"font-weight: 400;\">\u2013 China Standing Committee National People&#8217;s Congress;<\/span><\/li>\r\n<li><span style=\"font-weight: 400;\">\u2013 China Trade Balance (m\/m) at 05:00 (GMT+2);<\/span><\/li>\r\n<li><span style=\"font-weight: 400;\">\u2013 German Trade Balance (m\/m) at 09:00 (GMT+2);<\/span><\/li>\r\n<li><span style=\"font-weight: 400;\">\u2013 German Industrial Production (m\/m) at 09:00 (GMT+2);<\/span><\/li>\r\n<li><span style=\"font-weight: 400;\">\u2013 Eurozone Retail Sales (m\/m) at 12:00 (GMT+2);<\/span><\/li>\r\n<li>\u2013 UK BoE Interest Rate Decision at 14:00 (GMT+2);<\/li>\r\n<li>\u2013 UK BoE Rate Statement at 14:00 (GMT+2);<\/li>\r\n<li><span style=\"font-weight: 400;\">\u2013 US Initial Jobless Claims (w\/w) at 15:30 (GMT+2);<\/span><\/li>\r\n<li><span style=\"font-weight: 400;\">\u2013 UK BoE Gov Bailey Speaks (m\/m) at 17:15 (GMT+2);<\/span><\/li>\r\n<li><span style=\"font-weight: 400;\">\u2013 US Natural Gas Storage (w\/w) at 17:30 (GMT+2);<\/span><\/li>\r\n<li>\u2013 US Fed Interest Rate Decision at 21:00 (GMT+2);<\/li>\r\n<li>\u2013 UK FOMC Statement at 21:00 (GMT+2);<\/li>\r\n<li>\u2013 US FOMC Press Conference at 21:30 (GMT+2).<\/li>\r\n<\/ul>\r\n<div class=\"ag-analytics_title\">Friday, November 08<\/div>\r\n<div class=\"ag-analytics_title-list\"><span style=\"font-weight: 400;\">Friday&#8217;s main event will be the Canadian labor market date. Unemployment is expected to continue rising, increasing the likelihood of more aggressive rate cuts from the BoC. It will be a negative scenario for the Canadian dollar.<\/span><\/div>\r\n<div class=\"ag-analytics_title-list__strong\">Main events of the day:<\/div>\r\n<ul class=\"ag-analytics_list\">\r\n<li><span style=\"font-weight: 400;\">\u2013 Canada Unemployment Rate (m\/m) at 15:30 (GMT+2);<\/span><\/li>\r\n<li><span style=\"font-weight: 400;\">\u2013 US Michigan Consumer Sentiment (m\/m) at 17:00 (GMT+2).<\/span><\/li>\r\n<\/ul>\r\n<p class=\"ag-analytics_text\">by <span class=\"author vcard\"><span class=\"fn\">JustMarkets<\/span><\/span>, <span class=\"updated\">2024.11.04<\/span><\/p>\r\n<!--a href=\"\/analytics\/daily-forecast\" class=\"ag-analytics_link\">\r\nWe advise you to get acquainted with the daily forecasts for the major currency pairs.\r\n<\/a--> <a class=\"ag-base-btn\" href=\"https:\/\/secure.justmarkets.eu\/pl\/register\/?sl=1\">Open Account<\/a><\/div>\r\n<\/div>\r\n\r\n\r\n","protected":false},"excerpt":{"rendered":"<p>Week&#8217;s main events (November 04 \u2013 November 08) This is going to be an extremely volatile week. We will witness the US presidential election, the Fed, Bank of England, and Reserve Bank of Australia interest rate meetings. Finally, China&#8217;s National People&#8217;s Congress Committee will be meeting all week. The US &#8230;<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[193,330,338],"tags":[],"class_list":["post-9800","post","type-post","status-publish","format-standard","hentry","category-analytics","category-market-overview","category-weekly-overview"],"featured_image_src":"","blog_images":{"medium":"","large":""},"acf":[],"aioseo_notices":[],"ams_acf":[{"key":"icon","label":"Icon","value":false}],"_links":{"self":[{"href":"https:\/\/justmarkets.eu\/pl\/wp-json\/wp\/v2\/posts\/9800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/justmarkets.eu\/pl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/justmarkets.eu\/pl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/justmarkets.eu\/pl\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/justmarkets.eu\/pl\/wp-json\/wp\/v2\/comments?post=9800"}],"version-history":[{"count":2,"href":"https:\/\/justmarkets.eu\/pl\/wp-json\/wp\/v2\/posts\/9800\/revisions"}],"predecessor-version":[{"id":9812,"href":"https:\/\/justmarkets.eu\/pl\/wp-json\/wp\/v2\/posts\/9800\/revisions\/9812"}],"wp:attachment":[{"href":"https:\/\/justmarkets.eu\/pl\/wp-json\/wp\/v2\/media?parent=9800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/justmarkets.eu\/pl\/wp-json\/wp\/v2\/categories?post=9800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/justmarkets.eu\/pl\/wp-json\/wp\/v2\/tags?post=9800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}