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Thanksgiving holiday usually makes for a quiet end to the week but a deluge of US economic data, global flash PMI survey data and the minutes from the last FOMC meeting will all drive the agenda this week. Zoom earnings might tell a story about pandemic winners and where they stand since. 

Here are the week’s key events: 


A fairly light calendar to start the trading week sees German producer price inflation the main event, with the German Buba economic report also in focus. Zoom earnings will be parsed for signs that the worst is over for the speculative tech bubble. In the previous quarter Zoom reported declining revenue growth which it blamed in part on the stronger dollar. For the current quarter just past Zoom guided for adjusted earnings of 82 cents per share to 83 cents per share on $1.095 billion to $1.100 billion in revenue. 

Earnings: Zoom Video Communication (ZM) 


Japanese core CPI data will drive the Asian session and could see some moves in JPY crosses. Eurozone consumer confidence, which has plunged to record lows as the economy splutters and inflation roars higher, will be the main event for the European session. Elsewhere, Canadian retail sales will move the CAD, while investors will also look at the Richmond manufacturing index from the US.  

Earnings: Baidu (BIDU), Medtronic (MDT), HP (HPQ) 


The Reserve Bank of New Zealand is expected to raise rates by as much as 75bps, with inflation and inflation expectations surprising to the upside since their latest survey in August. Last month the RBNZ raised rates by 50bps for a fifth time in a row and signalled that a 75bps was discussed. 

Elsewhere, markets will focus on the flash PMI readings from the Eurozone, UK and US for a steer on the global economy.  There is a deluge of US economic data, too, with durable goods, unemployment claims and new home sales data to look at. Traders will also pay close attention to the University of Michigan consumer sentiment and inflation expectations, whilst the heavy data day is rounded out with the minutes from the last FOMC meeting, which could show more detail on policymakers’ thinking on whether to slow the pace of rate hikes. 

Earnings: Deere & Co (DE) 


It’s Thanksgiving Day in the US so markets will be a little bit quiet as the US cash equities and bond markets will be closed. Tokyo core CPI, German Ifo business climate report and New Zealand retail sales maintain the interest in the FX markets. 


German is the focus with final GDP numbers, the GfK consumer climate report and import price data all on tap. French consumer spending and preliminary CPI inflation data will also be watched as the week rounds out on a fairly quiet note with the US Thanksgiving holiday in full swing, albeit the markets reopen. 

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