A summary of the most interesting economic events from the trading week of 15-21 November 2021

Welcome to another Monday recap of the most interesting economic events of the past week.


On Monday, ECB President Christine Lagarde gave her speech and again talked about inflation. Christine noted that it was very unlikely that the conditions for a rate hike would be met in 2022. It's not that Christine said anything new, but thanks to her rather dovish messages, the EUR started to weaken slightly. 


A day later (16.11.2021) we turned our attention to the incoming data from the USA. In the afternoon, we got Core retail sales and US retail sales, which came in better than expected. Usually this means a bullish bias for the USD. 


Wednesday was interesting with data from the UK and Canada, where we got news on the Consumer Price Indexes. In both countries, the actual data came out more positive, and that usually means a bullish sentiment for the currency. This is because the Consumer Price Index (CPI) measures the price of goods and services from the consumer's perspective and is a key way to measure changes in purchasing trends and inflation.

What's in store for the current trading week? 

Right from the beginning of this week (Tuesday) PMI data from the UK will come. On Wednesday, we will turn our attention to New Zealand, which will bring the latest interest rate decision. On the same day we also expect GDP data from the US. We expect increased volatility on the NZD and USD on this day. 

The end of the week, on the other hand, will probably bring us less volatility on the USD due to the US Thanksgiving holiday. 




Pictured: Christine Lagarde - President of the ECB

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