3 Things on Economic Focus for Week 11/20 thru 11/24/2017

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Ahead of the coming week, Team Day Trader has compiled a list of 3 major events on the economic calendar that are most likely to affect the market this week. Financial market participants should focus on minutes of the Federal Reserve’s latest policy meeting & possibly looking for any new developments on the trajectory of monetary policy. A report on durable goods orders will also be the highlight of the holiday-shortened week. U.S. markets will be closed Thursday for Thanksgiving & Friday will be a half-session day.

Meanwhile, on the other side of the world, Japanese trade data should also be in focus as investors assess the health of the world’s third largest economy.

1. Fed FOMC Meeting Minutes

The Federal Reserve will release minutes of its most recent policy meeting on Wednesday at 2:00 pm EST. The U.S. central bank left interest rates unchanged following its meeting on Nov. 1st & signaled it still intended to raise rates in December, as officials noted “solid” economic growth & a tightening labor market.

Besides the minutes, markets will also be watching Fed Chair Janet Yellen, when she speaks in New York on Tuesday evening, for any other clues on the FOMC intentions.

2. Japan Trade Data

Japan’s Statistics Bureau will publish October trade figures at 6:50 pm EST Sunday (today). Exports are forecast to have grown 15.8% from the same period a year ago, which would mark the 11th monthly increase in a row, led by robust demand for cars & electronics manufacturing equipment as the world’s third-largest economy continues its recovery. Imports likely rose 20.2% last month, the fastest pace of growth since January 2014, as higher oil prices inflate import costs.

The trade balance likely stood at 330.0 billion yen ($2.93 billion) in October, narrowing from a revised 667.7 billion yen in September.

The Bank of Japan last month pushed back the timing for achieving its 2% inflation target, reinforcing expectations that it will lag other central banks in tightening monetary policy.

3. Trump Administration’s Tax Bill

Still on the political front, tax reform will likely stay at the forefront, as markets look for any new developments on the Trump Administration’s tax bill. The House approved its version last Thursday, an obvious market mover when one looks at the charts. The Senate bill will be voted on next before the two can be reconciled.

The week also brings Black Friday, the traditional start of the holiday season, but we, as well as many other’s, would argue that it has lost its importance with online shopping wreaking havoc on traditional brick-and-mortar retail chains.

Hopefully helpful & stay up-to-date on all of this week’s action by visiting Team Day Trader’s blog Tuesday’s thru Friday’s.

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