A quiet start to the week on the announcement front allows us to look at the most important announcements during the week ahead.
Monday – Eurogroup Meetings
Tuesday – German Final GDP, German Ifo Business Climate, European, German and French Flash Manufacturing PMI’s, European, German and French Flash Services PMI’s, UK Public Sector Net Borrowing, Inflation Report Hearings, US Flash Manufacturing & Flash Services PMI’s. Meanwhile, in the early hours of Tuesday morning, UK PM Theresa May speaks as well as Fed Reserve Members, Patrick Harker, Neel Kashkari, Lael Brainard and Charles Evans.
Wednesday – ECB President Mario Draghi and Fed Reserve Members Neel Kashkari & Patrick Harker, speak.
Thursday – US Fed Reserve Meeting Minutes, Crude Oil Inventories and Unemployment Claims, UK Second Estimate GDP. Fed Reserve Member Robert Kaplan speaks, OPEC Meetings are held. Swiss, German & French bank holidays.
Friday – US Core Durable Orders and Prelim GDP. Fed Reserve Member, Lael Brainard speaks.
Aside from announcements, markets are heavily focused on Donald Trump and his visits to foreign nations. He appears to be toning down his election campaign rhetoric and is more willing to work with foreign countries. He has signed some large deals with Saudi Arabia, which a lot of people would see as a positive for markets. It will be interesting to see what other announcements are made by the President as he continues his overseas tour.