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Preparation is Key
Whilst learning to trade one of the most important aspects you need to be aware of is that of preparation.
It was once famously said that by failing to prepare we are preparing to fail.
Well let us help a bit and guide you through the important events during the week ahead.
A busier start to the week.
Monday sees a busier start in terms of data, as well as the markets still reeling a little from Fridays news from the US in terms of Trump, his actions and alleged links to Russia. Europe starts the week with the morning seeing the Sentix Confidence numbers released as well as some PPI data. We then head into the afternoon with a fair amount of US data hitting the wires. The numbers include Durable Goods set of data as well as the Factory Order numbers.
Tuesday, we see a raft of final European numbers including Purchasing Managers Data in the morning, GDP and Retail Sales. Being final readings they should have little market impact. The US afternoon session sees some Trade Balance numbers, PMI readings and the Non-Manufacturing ISM data at 3PM UK time.
Bank of Canada. The single Central Bank event this week.
Wednesday starts at the open with some German Factory Orders data followed by German Construction PMI. We then see some individual countries Retail PMI data around 9AM UK time. The afternoon sees more data again from the US to keep up the busy week, probably the last before Christmas. We get our first glance at US employment in the form of the ADP numbers before we head into the later afternoon seeing first Non-Farm Productivity followed by the Oil inventory numbers. Sandwiched in between these numbers we get our first Central Bank event in the form of the Bank of Canada Rate decision. Up to this point Central Bank speakers are fairly thin on the ground with no one scheduled to be speaking.
Thursday day off?
Thursday, is by far the quietest day for data and events. All the data is not even second tier and very unlikely to be market moving. We have no speakers scheduled either, nor any auctions in the diary. If you were planning a day off for Christmas shopping with the wife then Thursday would be by far the best candidate for that!
Non-Farm Payrolls wraps things up.
Friday we get back to business with a packed calendar. We start with European numbers of Trade Balance, Imports and Exports as well as some French Production data. We then move on to a set of UK data that includes Industrial and Manufacturing Production as well as a 12 month Inflation report. Cable will certainly get lively over these data points.
The US session, of course, gives us the main number of a very busy week in the full US Employment situation. Non-Farm Payrolls, Unemployment rate and earnings all get released at 1.30 PM UK time to round up what is a very busy week.
So to sum up we really do see a lot of data across 4 of our 5 days this week. Central Bank speakers are light on the slate this week with the exception being the Bank of Canada in the middle of the week. Make the most of this week, traders, as the following ones are very likely to be a bit stop start in terms of flow as we head into the holiday with only Central Bank meetings dotted around to bring any action.
Preparation again and again.
Don’t forget The Hub is always on hand via their private Facebook stream to help guide you through all these data points, Central Bank events and daily technical analysis. For more information please visit: