The Week Ahead: Attention on Federal Reserve Chair Powell, the Reserve Bank of Australia, and Key Data from China, Germany, and the UK

• Fed Chair Powell and other FOMC members' speeches will provide additional insight into the Federal Reserve's policy objectives.
• The RBA is anticipated to declare another increase in interest rates on Tuesday, as per market expectations.
• The figures for UK GDP and speeches from the Bank of England could result in fluctuations in the value of the Pound.

US Dollar 

Thursday's release of US initial jobless claims will capture investor attention. Should there be a notable increase in jobless claims following recent labor market data, it could reinforce expectations of the Fed concluding its rate hike cycle.

Additionally, consumer sentiment figures for November, particularly sentiment towards 1-year and 5-year inflation expectations, will also be significant.

Fed Chair Powell is scheduled to deliver speeches on Wednesday and Thursday, while other FOMC members will also speak throughout the week, adding further importance to their commentary.

EUR

Investor focus in the week ending November 10, 2023, will center on the performance of the German economy, with economic indicators likely impacting the appetite for the EUR/USD currency pair.

Data such as German factory orders and finalized euro area services PMI figures on Monday, followed by German industrial production and finalized inflation figures on Tuesday and Wednesday, will likely influence EUR/USD trading. The latter half of the week will feature a spotlight on the European Central Bank (ECB), particularly with the release of the ECB Economic Bulletin and speeches by ECB President Lagarde.

Pound

The upcoming week holds critical importance for the Pound. Key events include the release of the BRC Retail Sales Monitor and house price figures on Tuesday, as well as the September GDP Report on Friday. Additionally, scheduled speeches from Bank of England officials, including Governor Andrew Bailey and Chief Economist Huw Pill, will be closely monitored.

Loonie

Trade data and the activities of the Bank of Canada will be key focal points for the Canadian Dollar. The impact of trade data will be significant, but commentary from Bank of Canada officials such as Deputy Governor Kozicki and Senior Deputy Governor Rogers is likely to carry even greater weight.

Australian Dollar

Tuesday is expected to bring the spotlight on the Reserve Bank of Australia (RBA) and the Australian Dollar, with economists predicting a potential 25 basis points rate hike to combat inflation. Beyond the interest rate decision, markets will carefully analyze the RBA's rate statement and any indications of future rate movements.

Kiwi Dollar

The Kiwi dollar will be influenced by inflation expectations, electronic card retail sales on Thursday, and business PMI numbers on Friday. These metrics will offer insights into the New Zealand dollar's performance.

Japanese Yen

Key events include finalized services PMI numbers and the release of minutes from the Bank of Japan's monetary policy meeting on Monday, followed by a focus on household spending on Tuesday. The impact of these events will be significant for the Japanese Yen.

Out of China

Trade data will take center stage on Tuesday, offering insights into the country's economic performance. Additionally, Thursday will see a focus on inflation figures, including producer prices and consumer price inflation, which will influence market risk sentiment.