Monday, November 8 As usual, the beginning of the week is accompanied by the absence of any important economic publications. Attention should be paid only to the speeches of the heads of the US Federal Reserve and the Bank of England. Tuesday, November 9 The only thing that may arouse interest on Tuesday is the producer price index in the United States. It is expected to grow from 8.6% to 8.7%. And given the fact that producer prices, as a rule, are a leading indicator for inflation, their growth will mean a further rise in consumer prices. And as we know, the growth of consumer prices, especially in conditions of high inflation, is an exceptionally negative factor. Therefore, a weakening of the US currency is not excluded on Tuesday. Wednesday, November 10 Inflation data in the United States is being published on Wednesday, which will be the main event of the whole week. Analysts predict that inflation should accelerate from 5.4% to 5.7%. Such statistics may further undermine the dollar's position, given the growing concerns about global inflation growth. At the same time, data on the number of applications for unemployment benefits, which are usually released on Thursdays, will be published on Wednesday. And if the number of initial appeals should decrease by only 5 thousand, then the number of repeated appeals may decrease by 54 thousand. And apparently, further improvement of the situation in the US labor market will somewhat mitigate the negative effects of rising inflation. Thursday, November 11 Thursday starts with data on producer prices in Japan, the growth rate of which may accelerate from 6.3% to 7.0%. And this is rather a positive factor, since Japan is still teetering on the verge of a return to deflation. So the yen has a good growth potential. Unlike the pound, which will be under pressure due to GDP, the growth rate of which should slow down from 23.6% to 6.5%. Moreover, the growth rate of industrial production may slow down from 3.7% to 3.4%. These data demonstrate that the British economy is noticeably slowing down, which, of course, will negatively affect the positions of the British currency. Friday, November 12 The week will end with data on industrial production in the eurozone, the growth rate of which should slow down from 5.1% to 4.5%. Therefore, the trading week will end with the weakening of the single European currency. However, the scale of this decline will not be so significant.
