Weekly News 11.11—15.11.2019

Introducing the most complete review of the upcoming week from analysts Olymp Trade.

This week, the UK and Germany release their quarterly data on the GDP, the EU reports on the inflation rate, and Germany publishes its economic sentiment index. New Zealand is to take the interest rate decision. The EU will determine the foreign policy priorities, and the leaders of the U.S. and Turkey will try to meet at the negotiating table.


November 11. UK GDP. EU foreign policy

At 09:30 GMT, the UK is to publish preliminary data on its Q3 GDP. In the second quarter, the reading come out at 0.2% against a forecast of a slowdown to -0.1%.

It is likely that the result will also please the investors this time. Hints of this have previously come from increased business activity in the manufacturing sector of the United Kingdom.

Foreign Affairs Council will hold a meeting. Officials will discuss the situations in Venezuela, Iran, Afghanistan and military operation in Syria. The outcome of the meeting may affect the market.


November 12. Economic sentiment in Germany

At 10:00 GMT, the ZEW releases its Germany Economic Sentiment Index. They expect a further decline of 27 points, 4.2 points worse than the previous result. Such expectations indicate an accelerating downgrade in German economy.

Earlier, the IMF had cut its growth forecast for EU due to the recession in Germany, as well as zero economic growth in Italy.


November 13. The RBNZ interest rate decision. A meeting of presidents of the US and Turkey

At 01:00 GMT, the Reserve Bank of New Zealand is to release its interest rate decision. In August, it was cut by 0.25%. Such factors as unemployment rate (which rose by 0.1%) indicate the need for new steps in this direction. Traders are likely to expect another rate cut, as soon as the U.S. Federal Reserve had taken a similar step.

The presidents of the United States and Turkey will meet in Washington to discuss an agreement to end the military operation in northern Syria in exchange for the withdrawal of Kurdish military formations. However, the meeting may not take place due to Armenian Genocide recognition by the U.S. House of Representatives.


November 14. Germany’s GDP. Tariffs on Apple

At 07:00 GMT, Germany releases its Q3 GDP, which is the most important report for the entire euro zone. Experts predict a drop of 0.1%. Taking into account the decline in other macroeconomic indicators, these expectations reflect current realities.

On this day, the office of the U.S. Trade Representatives must respond to Apple’s request for exemptions from tariffs on a number of goods manufactured in China. According to Tim Cook, the company’s CEO, these products are not of strategic importance. However, a positive solution is only possible if the U.S. and China sign a trade deal.


November 15. EU inflation. Hearings on the “Trump Case”

At 10:00 GMT, the EU releases consumer price index. The current rate is 0.7% YoY. This year, inflation in the region has declined from 1.7% to 0.7%. The opposite dynamics will support the stocks.

Marie Yovanovitch, former U.S. ambassador to Ukraine will speak before the U.S. House Intelligence Committee. Hearings are a part of the impeachment inquiry initiated by Democrats against the current President Donald Trump.

According to a number of high-ranking representatives of the Democratic Party, the U.S. leader exerted pressure on Ukrainian President Volodymyr Zelensky in order to get damaging information on Hunter Biden, the son of his political rival Joe Biden.

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