What to look forward to this week
The market remains in bear territory as investor sentiment continues to deteriorate amid a flurry of issues ranging from Chinese economic growth, Italy, trade wars and an increase in tensions between Saudi Arabia and other global players. The JSE is reeling on the back of this negative sentiment and most of the local blue-chips have weakened considerably over the past month. Could November bring a change in fortunes? We certainly hope so, the potential trigger could be earnings results from Apple this week, as well as the release of the all-important Non-Farm Payrolls numbers which is forecasted to show a significant increase.
I have highlighted some of the other key events to look out for in this week’s trading.
- The United Kingdom will be primarily in focus on Monday as we expect the Net Lending to Individuals data at 11.30am. Later at 2.30pm we are expecting Personal Spending and Personal Income numbers for the USA. In terms of local earnings, we are expecting results from Famous Brands and Raubex.
- A much busier Tuesday awaits starting off with Unemployment Rate data out of Japan. At 8.30am we are expecting French GDP numbers followed by CPI data from Germany afterwards. We are also expecting GDP data for Italy and the Eurozone that same morning. Locally, we are expecting Statistics SA to release South African Unemployment Rate numbers for the third quarter.
- Emerging markets will be watching China closely on Wednesday morning for the release of Manufacturing PMI and Non-Manufacturing PMI data. The Bank of Japan is expected to announce it interest rate decision which is forecasted to remain unchanged at -0.1%. We are expecting German Retail Sales numbers at 9am followed by French CPI and Spanish GDP numbers within the same hour. The Eurozone and Italy are expected to release their CPI numbers at 12pm. At 2.15 we are expecting the ADP Non-Farm Employment Change numbers out of the USA, and at 4.30pm we are expecting the weekly Crude Oil Inventories numbers from the same country.
- Japan is expected to release its Final Manufacturing PMI numbers at 2.30am on Thursday morning, followed by Caixin Manufacturing PMI numbers at from China at 3.45am. Most of the attention that morning will be on the United Kingdom for the release of Manufacturing PMI data at 11.30am that morning, and more importantly the interest rate decision from the Bank of England at 2pm. At 2.30pm we are expecting the weekly Initial Jobless Claims numbers out of the USA, as well ISM Manufacturing PMI and Construction Spending data. The market will also be awaiting Apple Inc’s 3rdquarter earnings out of Nasdaq.
- Friday is jobs day. The USA is expected to release the all-important Non-Farm Payrolls at 2.30pm, along with Average Hourly Earnings and Unemployment Rate data. Other than that action out of the USA, we are expecting Construction PMI data out of the UK at 11.30am. We are also expecting Manufacturing PMI data from most of the countries in the Eurozone.
We will be keeping tabs on the events in the markets. Check out our blog for market updates, insights from our GT247.com team, and our independent analysts. Not sure about a trade? Call the GT247.com Trading Desk on 087 940 6102, and bounce your idea off one of our dedicated traders.
Until next week, we wish you profitable trading!