Although Monday’s session promises to be rather calm and without major macroeconomic exciting publication, but during the Asian session we had few extremely important readings which had a decisive influence in particular on the economies of Japan and China.
Japanese GDP better than expected
Tonight the first publication of the macro data that we saw was published by the Cabinet Office (Chancellery of the Prime Minister of Japan) GDP reading being a measure of the size of the Japanese economy. This reading was much better not only than the previous one but also from forecasts.
In the morning we had also published by the Ministry of Economy, Trade and Industry report from industrial production including information on changing the volume of production in the industrial sector in Japan, which was predicted at 0.0% remained unchanged and reached 0,6%.
Despite such good data we do not observe, however, the appreciation of the Japanese currency which may be due to good sentiment from last week which definitely strengthen the US Dollar.
At. 3:00 we met the reports published by the Chinese statistics office on fixed investment, industrial production and retail sales.
What are we waiting for
In Monday’s calendar (14/11/2016) its hard to trace really important data. As such, we considered only those that come up before noon:
- 9:15 – goods production price index (PPI) from Switzerland
- 10:00 – Consumer inflation (CPI) in Italy
- 11:00 – Industrial production in the euro area
This is what, in particular, should we pay attention this afternoon to is speech of ECB president, Mario Draghi at. 16:00 and speech member of the FOMC, Robert Kaplan at. 19:20. GMT+2