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05 Dec 2021
3 min read

Economic Calendar Updates – 05/12

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Written by OspreyFX News Team
*OspreyFX would like to state that traders should research extensively before following any information given hereby. Any assumptions made in this article are provided solely for entertainment purposes and not for traders to guide or alter their positions. Please read our Terms & Conditions and Risk Disclosure for more information.

Key Takeaways

  • A light economic schedule will narrate this week’s financial markets
  • Omicron worries still cast a shadow over risk appetite from market participants

Light Agenda for Traders and Investors

The week starting Monday, December 6, will be fairly light in terms of scheduled economic events and reports. To this end, traders will have time to take a breath and assess the state of financial markets and outlook for growth.

On Monday, the UK kickstarts the first full trading week in December with its construction PMI data for November. The report is slated to arrive at 04:30 am EST.

In the evening, Australia’s central bank, the Reserve Bank of Australia, will publish its interest rate decision for December. On that front, the RBA is expected to leave interest rates unchanged at 0.10%. The event arrives at 10:30 pm EST.

On Tuesday, Germany shifts into gear for the day with its ZEW Economic Sentiment data for December. The report is scheduled for release at 05:00 am EST. Next, at 10:00 am EST, Canada will reveal its Ivey PMI data for November.

Japan’s GDP Data and US Inflation Report Ahead

Later, at 06:50 pm EST, Japan delivers its gross domestic product (GDP) numbers for the third quarter. With this in mind, preliminary data already showed the economy of Japan contracted by 0.8% in the quarter ended September.

On Wednesday, the US reports its JOLTs jobs openings for October at 10:00 am EST. At the same time, Canada’s central bank, the Bank of Canada, reveals its own interest rate decision. On this note, the interest rate is expected to remain unchanged at 0.25%.

We skip Thursday for lack of any major economic news, updates, or reports.

On Friday, the UK will publish its manufacturing production PMI numbers for October. The report is expected to land at 02:00 am EST.

Moving to the US, the Bureau of Labor Statistics will announce November’s core consumer price index data or Core CPI. In other words, inflation data.

It is important to note that inflation has been surging in recent months and traders will be watching. The inflation report could result in increased volatility across the financial markets. In particular, the US dollar could experience heightened swings.

Omicron Updates Likely to Sway Markets

In other news, traders and investors will continue following developments over the Omicron Covid-19 variant. Any major update is likely to affect intraday moves in asset classes or individual assets such as gold or oil.