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The week ahead: 28/11/22

In Japan this week we’ll see labour market, retail sales and industrial production data. Also look out for German and eurozone CPI figures and French and US GDP, while the key data of the week is Friday’s US nonfarm payrolls. The earnings schedule includes updates from Intuit, Workday, easyJet, Synopsys, Hormel, Splunk, Marvell, Kroger and Ambarella.

Monday 28 November

Early on Monday the Australian retail sales figures were released. While it’s a relatively quiet day for data, late in the evening we’ll get the latest Japanese jobs/application ratio, unemployment rate and retail sales. The reading for September showed Japanese retail sales rising for the seventh consecutive month, an annual rise of 4.5%.

Tuesday 29 November

As well as German CPI data for November, on Tuesday we’ll see the latest UK mortgage approvals and lending, Japanese industrial production and the Conference Board’s US consumer confidence. Business software firms Intuit and Workday report to the market, along with convenience foods group Greencore and budget airline easyJet, which last week launched a campaign to hire more over-45s as cabin crew.

Wednesday 30 November

Salesforce chart: 25/11/22
   Salesforce chart: 25/11/22 (click to expand image)

Dow component Salesforce leads the earnings on Wednesday after recently implementing a round of job cuts in response to challenging business conditions. Figures are also due from electronic design automation firm Synopsys, food company Hormel, software firm Splunk, semiconductor maker Semtech and clothing company PVH. A packed data schedule includes Australian building approvals, construction work done and private sector credit, China’s NBS manufacturing and non-manufacturing PMI, French consumer spending, German unemployment change, eurozone CPI and, in the US, the Chicago PMI, the JOLTs labour market report, pending home sales and the Fed’s latest beige book. Keep an eye out too for French and US Q3 GDP updates.

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Thursday 1 December

Late on Wednesday the Australian November manufacturing PMI is released, followed throughout Thursday by PMI data for Japan, China, French, German, the eurozone, the UK and the US, plus the ISM’s US manufacturing PMI. Other data includes the Nationwide UK house price index, German retail sales, the eurozone unemployment rate and US personal income and spending. We expect earnings from US tech firm Marvell, discount store Dollar General, retail chain Kroger, beauty store Ulta, one-stop retailer Big Lots, semiconductor designer Ambarella and footwear retailer Designer Brands.

Go long or short on energies, metals and other commodities.

Friday 2 December

The first Friday of the month brings us the last US nonfarm payrolls release of the year, along with the US average hourly earnings and unemployment rate. Last time out unemployment rose to 3.7%, while the US economy added 261,000 new jobs in October. Also watch out for the German trade balance for October.

Trade stock indices to take a broad market view.

Published: 28 November 2022

You should under no circumstances consider the information and comments provided as an offer or solicitation to invest. This is a macro summary of scheduled news announcements and is not investment advice, independent research or an investment recommendation. The information provided is believed to be accurate at the date the information is produced.

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