most important economic events for this week 27 November – 1 December

Investors pay attention to the monthly data of The China’s transformative industries sector, which will be an indicator on the leverage of the world’s second-largest economy.

It is worth mentioning that the Energy markets will pay attention to the long-awaited OPEC’s formal meeting in order to know the decisions which will be taken regarding extending the cut-off agreement until the end of next year.

The top important five financial events that have a noticeable impact on the world market movements are:

The new Reserve Bank President, Jerome Powell, appointed by the US President Donald Trump, is expected to have a talk before the Senate Banking Committee at 14:45 GMT on Tuesday. The Reserve Bank President, Janet Yellen, will issue statements at 15:00 GMT on Wednesday.

Paul Wellen, and a number of other talkers from the reserve bank, will also give statements this week; among them, there will be the New York Reserve Bank President, William Dudley, who is expected to step down next year.

It is scheduled that The Federal Reserve will hold its final periodic meeting of the current year, from December 12 to 13, and it is expected that the bank will take a decision of raising the interest rates for the third consecutive time.

The Department of Commerce will release at 13:30 GMT on Thursday, data on the personal incomes and the consumer spending rates in October. The Reserve Bank depends on the consumer spending rates to measure the inflation rates in the country.

The US economy is planned to release, on Wednesday, the final reading of the gross domestic product growth in the third quarter of the current year, with expectations of rise from 3.0% to 3.2%.

The European economy is planned to publish inflation data of November at 10:00 GMT on Thursday. The consumer prices index is expected to show a 1.6% rise from the previous reading of October, which showed a rise of 1.4%, but will remain slightly below the target value of the bank at 2%. This index will be issued excluding food and fuel prices amid expectations for a rise to 1.0% from 0.9% in the past month.

Germany, France, Italy and Spain will publish their separate Customer Prices Index reports.

The Chinese Federation will release, at 01:00 GMT on Thursday, data on the Transformative Industries sector procurement directors during November, with expectations of a slight drop to 51.5 points from 51.6 points in October. The Kaixin Manufacturing Index is expected to drop by 0.1 points to reach 50.9 points.

The China’s economic slowdown is deemed one of the major risks which the continued global growth faces. Therefore, the big change in such data will lead to some concerns.

Energy ministers of OPEC member states and independent producers are scheduled to have a meeting in Vienna, on Thursday, to discuss whether the cut-off agreement will be extended by additional nine months after the next March.

Most of the market analysts expect that the agreement will be extended until the end of next year, but details are not yet clear because Russia has a different attitude regarding this step.

In November last year, OPEC and eleven other oil-producing countries, led by Russia, agreed to cut the world oil production by 1.8 million barrels per day; such agreement is planned to be implemented from January 2017 to June 2017. The agreement has been extended for additional nine months until the end of March 2018, in an endeavor to reduce the surplus global stocks and to support oil prices.