Investors will test the evolution of the world’s main economies next week with the publication on both sides of the Atlantic of new data on inflation and growth of the Gross Domestic Product. However, it will be European stock market which will react almost alone to these new macroeconomic references because Thursday is a holiday in the United States, for Thanksgiving Day, and for leaving Wall Street without activity both that day and in the middle of next Friday’s session.
Although the week will be full of data from Monday itself, the first update on monetary policy will come with the publication of the latest minutes of the United States Federal Reserve (Fed). That is, they will be the keys to the last Fed meeting before Donald Trump’s Republican victory was announced at a time when the market discounts, according to Bloomberg, that no new interest rate cuts will come in 2024 by the Fed.
Next Wednesday, advance data on quarterly GDP growth will be published in the US, which is expected to be 2.8%, according to Bloomberg. There will also be an update on the sale of new homes that would indicate a drop compared to the previous month and the new consumer price data that would rise one tenth to 2.8%.
On the European side, starting on Thursday the Consumer Price Index (CPI) will arrive from Germany, Spain and France, among others, and in all these cases the month of November would show an increase in inflation in the main economies of the euro zone. In this way, the consensus of experts expects that the CPI of the eurozone rebound three tenths of a percentage point to 2.3%would be the highest figure since August of this year, with a rebound in underlying inflation as well.
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