November 2023 EVENTS
- US ISM Manufacturing PMI for October (November 1 at 14:00 GMT)
October’s ISM Manufacturing PMI is expected to print 49.5. The previous print was 49.
Possible influence: Volatile US Dollar, Gold and US Stocks
- US Federal Reserve Meeting and Press Conference (October 31st - November 1st at 18:00 GMT and 18:30 GMT)
The U.S. Central Bank’s 2-day meeting concludes on November 1st. They will announce their latest interest rate decision and hold a press conference after to discuss their outlook moving forward as well as their plans for adjustments to their balance sheet. The current rate is 5.5%. Rates were unchanged at their last meeting on October 20th.
Possible Influence: Volatile US Dollar, Gold and US Stocks
- Bank of England Meeting (November 2nd at 12:00 GMT)
The Monetary Policy Committee of the Bank of England will meet to decide on interest rates. The current rate is 1.75%. It was raised by 50 basis points at their last meeting on August 3rd.
Possible Influence: Volatile British Pound and British stocks
- U.S. Unemployment Rate and Non-Farm Payrolls (NFP) (October) (November 3rd at 12:30 GMT)
The Unemployment rate for October is expected to print at 3.8%. The previous month also had unemployment at 3.8%. Non-Farm Payrolls for October are expected to come in at 190,000. Nonfarm Payrolls for the previous month printed 336,000.
Possible Influence: Volatile US Dollar, Gold and US Stocks
- Reserve Bank of Australia Interest Rate decision (November 7th at 03:30 GMT)
The RBA will meet to decide on interest rates. The current rate is 4.10%.
Possible Influence: Volatile Australian Dollar
- US Inflation data (October) (November 14th at 13:30 GMT)
Core CPI (excluding food and energy) was 4.1%, Year-over-Year in September. Top-line CPI for September came in at 3.7%, Year-over-Year, higher than the expected 3.6%.
Possible Influence: Volatile US Dollar, Gold and US Stocks
- Retail Sales in the US for (October) (November 15th at 13:30 GMT)
Retail Sales grew to 0.6%, Month-over-Month, in September, which was higher than expected by the market. Expected Retail Sales for October are 0.5%.
Possible Influence: Volatile US Dollar, Gold and US Stocks
- OPEC+ meeting (November 26th)
OPEC+ will hold a meeting on November 26. Its current deal is to cut production by 2 million barrels per day. Saudi Arabia has a voluntary production cut of 1 ml bpd while Russia has export cuts of 300,000 bpd - both until end 2023. The meeting will be closely watched considering the current geopolitical situation in Israel and the west bank.
Possible Influence: Volatile Oil, Gasoline, and Natural Gas
- Company Q3 Earnings Season (November)
The 3rd Quarter earnings season continues with just over half of S&P500 companies having already declared
Possible Influence: Volatile US Stocks
- US President Biden to meet Chinese President Xi in US (November)
The presidents of US and China are expected to meet in San Francisco to discuss mutual issues of interest including trade, geopolitics including the situation in Ukraine and Israel.
Possible Influence: Volatile Gold prices.
- ISRAEL- HAMAS WAR CONTINUES (November)
ISRAEL BEGAN EXPANDED GROUND INCURSION IN GAZA (SECOND PHASE OF THE WAR). More than 600 targets have been taken down. Some pictures posted online also appeared to show Israeli soldiers waving an Israeli flag deep inside Gaza. Iranian-backed Hamas militants have been largely kept from public view, with forces moving under darkness and a telecommunications blackout cutting off Palestinians.
Possible Influence: Volatile Gold, Oil, Natural Gas and Global Stock prices.