(MENAFN– ecpulse) Next week will be relatively quiet in the U.S., with only a few first-tier economic reports to be watched for clues over the Federal Reserve’s next move on monetary policy.
On Monday, the U.S. will witness the Veteran’s Day Holiday. Banks will be closed but stock market trading will be active. Ben Bernanke is due to make a speech on Wednesday, so Wall Street may stick to the sidelines, waiting to hear what he has to say.
Federal Reserve policymakers surprised markets in September by continuing the central bank’s $85-billion-per-month bond-buying program, rather than beginning to wind it down as widely expected.
One reason cited by the Fed was the looming fiscal fights in Washington, which threatened to disrupt the economy, a threat that has since passed, at least temporarily.
The Fed held off again in October, but left the prospect of a December “taper” on the table, saying any decision will depend on the economic data. That makes the next two jobs reports particularly important.
Investors will also be watching Twitter as it enters its third day of trading. Twitter shares closed at $44.90 on Thursday, a whopping 73% gain from its initial public offering price of $26.
Macro Side
The U.S. economy sees industrial production data, alongside the Empire State manufacturing index next week.
On Thursday , the federal budget statement for October will be released.
On Friday , the US will unveil its trade balance reading for September, with analysts tipping a deficit of $39 billion.
The Bloomberg consumer comfort survey will also be released, as will productivity as and labor costs data.
Late on Friday, October industrial production data will be released, with economists forecasting a 0.2 percent lift, and manufacturing production data will also be unveiled.
The Empire manufacturing index for November will be released, with Bloomberg analysts expecting a read of 4.50, while wholesale inventories for September will be unveiled, with a 0.4 percent lift expected.
It`s a big week for overseas GDPs next week, with Japan`s due on Thursday along with Germany, France and the other Eurozone constituents, ahead of Friday`s net Eurozone release.
This will come after U.S. GDP surprised markets after a preliminary reading showed the U.S. economy expanded by 2.8 percent, as analysts had expected a weakening in the world’s largest economy.
TTIP Agreement
U.S. and EU negotiators meet next week in Brussels for the second round of talks on the proposed free-trade agreement otherwise known as the Transatlantic Trade and Investment Partnership (TTIP).
The talks were originally scheduled to be held on October 7-11, but were postponed because of the partial shutdown of the U.S. government.
The United States and the EU account for about one-third of global trade , so TTIP has the potential to spur economic growth on both sides of the Atlantic and to increase Western influence over the rules of the global trading system.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.