New releases on consumer and producer price inflation, retail sales, industrial production and capacity utilization, and the Treasury budget are all on tap in the U.S. this week. The consensus forecasts are that U.S. industrial production contracted 0.4% month-on-month in October while the capacity utilization rate declined to 77.1% (from 77.5% in September).
The Financial Times reports that investors will also be paying close attention to speeches this week from President Trump and Fed Chairman Jerome Powell: “Mr. Trump is due to give a potential market-moving speech on trade and economic policy at the Economic Club of New York on Tuesday. The markets will be looking for the U.S. president to bring some clarity on any trade deal with China when he speaks. Federal Reserve chair Jay Powell is due to testify on economic outlook before the Congressional Joint Economic Committee on Wednesday and the House Budget Committee the next day.” Overseas, China reports on retail sales and industrial production while Germany reports on GDP, consumer price inflation, and business sentiment. Have a great week!
