Global Economy Week Ahead: U.S.-China Meetings, Europe PMI, Fed Minutes

Donald Trump’s picks for his economic and foreign policy teams will remain in focus

Chinese Vice Premier Wang Yang spoke during the opening ceremony for the Shanghai Disney Resort in June. He and other high-level officials are scheduled to meet in Washington this week in connection with the U.S.-China Joint Commission on Commerce and Trade.
Chinese Vice Premier Wang Yang spoke during the opening ceremony for the Shanghai Disney Resort in June. He and other high-level officials are scheduled to meet in Washington this week in connection with the U.S.-China Joint Commission on Commerce and Trade.PHOTO: QILAI SHEN/BLOOMBERG NEWS

Global attention will remain focused on U.S. President-elect Donald Trump as he fills positions on his economic and foreign policy teams. Mr. Trump’s choices for the State Department, Commerce Department and other top jobs will shed light on the incoming administration’s priorities and policies toward the rest of the world. Meanwhile, pre- and post-election data will continue to roll in. U.S. markets will get a respite on Thursday for Thanksgiving.

MONDAY-WEDNESDAY: With Mr. Trump warning China about possible tariffs, the relationship between the world’s two biggest economies will be on display this week at a set of Washington meetings. Chinese Vice Premier Wang Yang and other high-level officials are scheduled to meet in the U.S. capital in connection with the U.S.-China Joint Commission on Commerce and Trade.

WEDNESDAY: A gauge of activity in the eurozone’s manufacturing and services sectors is expected to point to a slightly faster pace of economic growth during the final quarter than in the three months through September, although not fast enough to convince the European Central Bank that it needn’t extend its program of bond purchases. Economists expect the composite purchasing managers index to edge up to 53.4 in November from 53.3 in October.

In the U.K., the government will present new plans for tax and spending, its first fiscal response to the U.K.’s June vote to leave the European Union. Economists expect a small increase in spending on infrastructure, with a slight lowering of forecast growth leaving Treasury chief Philip Hammond little room to splurge given the still wide budget deficit.

The University of Michigan’s consumer sentiment index will offer an early glimpse of economic confidence through the election period. A preliminary reading, out Nov. 11 and which only captured the pre-election mood, rose to 91.6 from October’s two-year low of 87.2. The numbers out Wednesday also will reflect postelection sentiment. Economists expect the headline to hold steady at 91.6, which would indicate a fairly healthy outlook heading into the holiday season.

Federal Reserve officials at their Nov. 1-2 meeting held their benchmark interest rate steady. Minutes from the session will offer details on policy makers’ thinking as the next gathering, set for Dec. 13-14, nears. Indications suggest they are poised to raise rates for the first time since December 2015.

FRIDAY: U.S. exports surged in the third quarter of the year, boosting gross domestic product. But economists think a one-time surge in soybean exports was behind much of the gain. October’s look at U.S. trade in goods will show if exports have reverted to more sustainable levels while also shedding light on demand for consumer, industrial and agricultural goods at home and abroad.

http://www.wsj.com/articles/global-economy-week-ahead-u-s-china-meetings-europe-pmi-fed-minutes-1479672001

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One Response to “Global Economy Week Ahead: U.S.-China Meetings, Europe PMI, Fed Minutes”

  1. daveyone1 Says:

    Reblogged this on World Peace Forum.

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