The regular Monday recap is here! Together, let's recap the highlights of the past week.
On Wednesday, we watched incoming data on GDP and retail sales in the euro area. Retail sales fell by 1.2 % yoy in October. This is the third straight month of decline.
The news from the US labour market was the most important fundamental on which we focused our attention. Unemployment claims rose again to 220k. It was the second highest reading since September and negative for the USD.
From Japan, we saw some surprising news last week that added quite significant volatility to the JPY market. On Thursday, the BOJ Governor visited Prime Minister Kishida's office where he was due to confirm his outlook for wage increases next year.
What's in store for the current trading week?
This week will be quite nutritious.
On Tuesday, we have UK labour market data (8:00) followed by US inflation figures in the afternoon (14:30). This will certainly be the market's focus in conjunction with last week's labour market developments.
With the Fed's monetary policy meeting on Wednesday (20:00), Tuesday's inflation data will be all the more important.