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Next week will feature a series of important economic announcements, bids and reports that will be of interest to market participants.
Monday, November 20th
The week begins with a Treasury auction for $16 billion worth of 20-year bonds, an event that will give us an idea of the market’s demand for long-term Treasuries. This happened in the aftermath of last week’s terrible 30-year sale.
Tuesday, November 21st
At 8:30 a.m., the Chicago Fed National Activity Index, a comprehensive measure of overall economic activity and related inflationary pressures, will be released. A $26 billion two-year Treasury bond auction is expected to follow, which could have an impact on short-term interest rates. The existing home sales report, scheduled for release at 10 a.m., will provide a snapshot of the health of the U.S. housing market. The Fed minutes will be released at 2 p.m., and there will also be a 10-year TIPS sale.
Wednesday, November 22nd
The busy morning begins at 8:30 a.m. with the October durable goods orders report, a key indicator of the health of the manufacturing industry. Economists are keeping an eye on whether the consensus +3.1% rise materializes, but the key figure will always be orders for capital goods, excluding non-defense industries. Initial unemployment claims data will be released as well, providing the latest insight into the strength of the labor market. His first survey of UMich consumer sentiment for November is scheduled for 10 a.m.
Thursday, November 23rd
Thanksgiving in the United States is a public holiday and a quiet day in the markets.
Friday, November 24th
The abbreviated post-holiday session will include the release of the S&P Global U.S. Services and Manufacturing PMI report at 9:45 a.m. These Purchasing Managers’ Indices provide important data on economic activity in the private sector.
Markets are currently sensitive to economic indicators, and the dollar trades off with signs of economic strength or weakness, which can influence Federal Reserve policy decisions and market movements. Please keep in mind that unexpected results from these reports can cause large market fluctuations.