On the Macro
For the Dollar, it’s another busy week ahead, with key stats including October JOLTs job openings on Monday, November wholesale and consumer price inflation numbers due out on Tuesday and Wednesday. A heavy day of stats on Friday includes October business inventories, November retail sales, and industrial production numbers and prelim December private-sector PMI numbers. Thursday’s import and export price index and weekly jobless claims figures will unlikely to have a material impact. Outside the numbers, expect Oval Office chatter, with the markets also likely to be second guessing whether the FED will take a more dovish outlook on rates for 2019. The Dollar Spot Index ended the week down 0.78% to $96.514.
For the EUR, Key stats include October Trade and economic sentiment numbers due out of Germany on Monday and Tuesday, Eurozone industrial production numbers on Wednesday, with prelim December private-sector PMI numbers for France, Germany, and the Eurozone, together with the Eurozone’s 3rdquarter wage growth figures due out on Friday. While finalized November inflation figures due out in the 2ndhalf of the week will likely be ignored, we can expect plenty of movement on the ECB monetary policy decision and more importantly, the ECB press conference. The EUR/USD ended the week up 0.55% to $1.1379.