Investing.com - In the week ahead, investors will be looking ahead to Friday’s U.S. data on retail sales, producer prices and consumer sentiment for fresh indications on the likelihood of a December rate hike.
Tuesday’s inflation figures from China will also be in focus, along with Friday’s preliminary data on economic growth in the euro area.
Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.
1. U.S. retail sales report
The Commerce Department will publish data on October retail sales at 8:30AM Eastern Time Friday.
The consensus forecast is that the report will show retail sales rose 0.3% last month, after gaining 0.1% in September. Core sales are forecast to increase 0.4%, after falling 0.3% a month earlier.
Strong retail sales figures were likely to add to already growing expectations for a December rate hike by the Federal Reserve.
2. U.S. PPI data
Also at 8:30AM ET on Friday, the U.S. is to release data on producer price inflation.
Producer prices are expected to grow by 0.2% in October, after falling 0.5% a month earlier, while core prices are forecast to rise 0.1%, following a 0.3% decline in September.
Weak inflation, due largely to lower oil prices, has been one of the key reasons for the Fed’s reluctance to raise interest rates so far this year.
3. U.S. Michigan consumer sentiment
The University of Michigan consumer sentiment index scheduled for release at 10:00AM on Friday is expected to inch up to 91.5 this month from 90.0 in October.
Market players have been paying close attention to U.S. consumer sentiment numbers in recent months to gauge the health of the economy.
4. Chinese CPI report
Traders looked ahead to data on Chinese consumer and producer price inflation on Tuesday for further hints on the strength of the world's second largest economy.
The report is expected to show that consumer prices rose 1.5% last month, compared to a reading of 1.6% in September, while producer prices are forecast to fall by 5.8%, which would be the 42nd straight monthly decline.
On Wednesday, the Asian nation is due to publish reports on industrial production, retail sales and fixed asset investment for October.
Data released Sunday revealed that China's trade surplus widened to $61.6 billion last month from $60.3 billion in September, missing forecasts for a surplus of $64.8 billion.
Chinese exports slumped 6.9% from a year earlier, worse than forecasts for a decline of 3.0%, while imports plunged 18.8%, compared to expectations for a drop of 16.0%.
5. Euro zone Q3 GDP
The euro zone will publish preliminary data on third quarter economic growth at 10:00AM London time, or 5:00AM ET, on Friday. The consensus forecast is that the report will show the economy grew 0.4% in the three months ended September, after expanding 0.4% in the second quarter.
Germany will release its individual report at 7:00AM London time. The euro zone's largest economy is forecast to grow 0.3% in the third quarter after increasing 0.4% in the preceding quarter.