TC Economic Insight - The Week Ahead (Oct 30 - Nov 3)


Kim Ming Lam


October 27, 2023



Min Read

TC Economic Insight - The Week Ahead (Oct 30 - Nov 3)

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

We are looking into the trading week of October 30 - November 3:

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:

All eyes are now on the U.S. Federal Reserve’s coming interest-rate decision due Wednesday (November 1).

The Fed has raised rates 11 times for a total of 5.25 percentage points, taking the benchmark rate to 5.50%, the highest level in some 22 years.

According to Trading Central's "Economic Insight", the Fed will maintain its Key Interest Rate unchanged at 5.50%.

In the past 8 U.S. Interest-Rate Decisions, EUR/USD rose in 63% of times (5 out of 8 events) within one hour from the report’s release, marking a trading range of 70.85 pips on average.

Meanwhile, the Bank of Japan (Tuesday, October 31) and the Bank of England (Thursday, November 2) will also announce their interest-rate decisions next week.

Other key economic data include:

Monday (October 30)

Australia Retail Sales (SEP) to grow 1.3% on month.

Germany Inflation Rate (OCT) to slow to 4.0% on year.

U.S. Dallas Fed Manufacturing Index (OCT) expected to improve to -15.0.

Tuesday (October 31)

Japan Central Bank expected to keep Key Interest Rate unchanged at -0.100%.

Japan Unemployment Rate (SEP) expected to stay at 2.7%.

Japan Industrial Production (SEP) to increase 0.6% on month.

Japan Retail Sales (SEP) to drop 0.1% on month.

China Official Manufacturing PMI (OCT) to climb to 50.5.

China Official Non-Manufacturing PMI (OCT) to rise to 52.0.

France GDP (3Q) expected to slow to 0.1% on quarter.

France Inflation Rate (OCT) to slow to 4.1% on year.

Germany Retail Sales (SEP) to rise 0.5% on month.

Eurozone GDP (3Q) expected to grow 0.4% on quarter.

Eurozone Inflation (OCT) to cool to 3.1% on year.

U.S. Chicago PMI (OCT) expected to tick up to 45.0.

U.S. S&P/Case-Shiller Home Price Index (AUG) expected to rise 0.4% on month.

Canada GDP (AUG) may grow 0.1% on month.

Wednesday (November 1)

New Zealand Unemployment Rate (3Q) expected to climb to 3.8%.

China Caixin Manufacturing PMI (OCT) to edge up to 50.7.

U.S. ADP Additional Private Jobs (OCT) expected to fall to 65,000.

U.S. Fed expected to keep Key Interest Rate unchanged at 5.50%. 

Thursday (November 2)

Australia Trade Surplus (SEP) expected at A$8.40 billion.

U.S. Initial Jobless Claims (OCT/28) to pick up to 217,000.

U.S. Factory Orders (SEP) to increase 0.7% on month.

Germany Unemployment Rate (OCT) to rise to 5.8%.

U.K. Central Bank expected to keep Key Rate unchanged at 5.25%.

Friday (November 3)

China Caixin Services PMI (OCT) expected to rise to 50.4.

Germany Trade Surplus (SEP) expected at 18 billion euros.

France Industrial Production (SEP) to rise 1.2% on month.

Eurozone Unemployment Rate (SEP) to climb to 6.5%.

U.S. Additional Non-Farm Payrolls (OCT) expected to fall to 190,000.

U.S. Unemployment Rate (OCT) to be stable at 3.8%. 

Canada Unemployment Rate (OCT) to be stable at 5.5%.

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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