Monetary policy meetings are concentrated in EM during the coming week. China and Hungary are on Tuesday, followed by Turkey, Israel and Russia later in the week. Turkey is expected to hike by another 150bps. Hungary will also be closely watched given renewed forint weakness despite last month’s hike to the one-week depo rate.
In DM, the Fed will release its Beige Book while Clarida, Williams and Powell are all scheduled to speak. The RBA will release the minutes of its last policy meeting and several BoE MPC members are due to speak.
This article is only available to Macro Hive subscribers. Sign-up to receive world-class macro analysis with a daily curated newsletter, podcast, original content from award-winning researchers, cross market strategy, equity insights, trade ideas, crypto flow frameworks, academic paper summaries, explanation and analysis of market-moving events, community investor chat room, and more.
Monetary Policy
Monetary policy meetings are concentrated in EM during the coming week. China and Hungary are on Tuesday, followed by Turkey, Israel and Russia later in the week. Turkey is expected to hike by another 150bps. Hungary will also be closely watched given renewed forint weakness despite last month’s hike to the one-week depo rate.
In DM, the Fed will release its Beige Book while Clarida, Williams and Powell are all scheduled to speak. The RBA will release the minutes of its last policy meeting and several BoE MPC members are due to speak.
Data
Monday’s Q3 GDP data for China is expected to confirm the strong economic recovery seen in the higher frequency data, while IP, retail sales and FAI data are also due for September. Russia have a number of activity releases due on Tuesday. In the US, housing starts are due on Tuesday and claims data on Thursday. UK CPI is on Wednesday.
Friday’s flash PMIs in the major economies will be in focus for any sign of renewed weakness, particularly so in Europe where rising COVID cases have meant restriction are steadily increasing.
Bilal Hafeez is the CEO and Editor of Macro Hive. He spent over twenty years doing research at big banks – JPMorgan, Deutsche Bank, and Nomura, where he had various “Global Head” roles and did FX, rates and cross-markets research.
(The commentary contained in the above article does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.)