TC Economic Insight - The Week Ahead (Dec 4 - 8)


Kim Ming Lam


December 1, 2023



Min Read

TC Economic Insight - The Week Ahead (Dec 4 - 8)

Using Trading Central's "Economic Insight" investors can check out up-coming major economic data.

We are looking into the trading week of December 4 - 8:

We can select economic data of "High", "Medium" or "Low" importance, or any combination of such filters:

We can select which economies to focus on:

The U.S. Federal Reserve paused hiking interest rates in the past two policy meetings, boosting market expectations that the central bank is already done with the current rate-hike cycle.

Further, some investors are betting the Fed will even cut interest rates in the first quarter of 2024 the earliest. They would therefore like to see continuously softening labor data, which could lead the central bank to shift gear. 

According to Trading Central's "Economic Insight", the U.S. Official Jobs Report (due Friday, December 8) will show that the growth of non-farm payrolls will slow to 100,000 in November from 150,000 in October, with the jobless rate standing at 3.9%. 

In the past 12 U.S. Official Jobs Reports, EUR/USD rose in 58% of times (7 out of 12 events) within one hour from the report’s release, marking a trading range of 58.89 pips on average.

Other key economic data include:

Monday (December 4)

Germany Trade Surplus (OCT) expected to widen to 17.1 billion euros.

Germany Exports (OCT) to rise 1.1% on month.

U.S. Factory Orders (OCT) may drop 2.3% on month.

Tuesday (December 5)

Australia’s Central Bank expected to keep key rate at 4.35%.

China Caixin Services PMI (NOV) to climb to 51.0.

France Industrial Production (OCT) to increase 0.4%.

Eurozone Producer Prices (OCT) to decline 10.2% on year.

U.S. ISM Services PMI (NOV) to drop to 51.5.

Wednesday (December 6)

Australia GDP (3Q) expected to grow 1.7% on year.

Germany Factory Orders (OCT) to add 0.1% on month.

Eurozone Retail Sales (OCT) to climb 0.3% on month.

U.S. ADP Private Job Addition (NOV) may slow to 95,000.

Canada’s Central Bank expected to keep key rate at 5.00%.

Canada Ivey PMI (NOV) to tick up to 53.5.  

Thursday (December 7)

Australia Trade Surplus expected to widen to A$7.78 billion.

China Exports (NOV) to fall 5.1% on year.

China Imports (NOV) to increase 4.0% on year.

Germany Industrial Production (NOV) to grow 0.4% on month.

U.S. Initial Jobless Claims (DEC/02) to rise to 225,000.

Canada Building Permits to drop 3.0% on month.

Friday (December 8)

Japan Household Spending (OCT) expected to fall 1.8% on month.

U.S. Non-Farm Payroll Addition (NOV) expected to drop to 100,000.

U.S. Unemployment Rate (NOV) to be stable at 3.9%.

U.S. Average Hourly Earnings (NOV) to add 0.2% on month. 

U.S. University of Michigan Consumer Sentiment Index (DEC) to tick up to 61.4.

Happy Trading!

Source: Trading Central Economic Insight

Kim Ming Lam

Head of APAC Research
Ming graduated from Hong Kong University with a Bachelor's degree in mechanical engineering. He has been working in the financial services sector for over 10 years. He is currently tasked with providing clients with technical analysis views on forex and Asian stock indexes.
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