Research Team at BNZ, suggests that it’s a less busy week as far as US data is concerned.
“The NFIB small business optimism index for October is the first key release on Tuesday. After several second tier reports mid-week, it’s pretty scarce as far as key US economic reports are concerned with the JOLTs job openings report for September, retail sales for October, PPI (also October), as well is the preliminary November reading from the University of Michigan consumer sentiment survey. This will be an interesting survey for two reasons: first, very initial reaction of consumers to ramped up expectations for a rate hike in December and second whether there’s been any recent change in consumers’ medium to longer term inflationary expectations which in October pushed down to a lower in this cycle of 2.5%. It’s an indicator the Fed watches closely.”
“There are yet more Fed speakers scattered through the week including Fed presidents Rosengren, Bullard, Lacker (a dissenter at the last FOMC voting for a rate hike) Evans, Dudley, and Mester all speaking on the economy and/or monetary policy.”