Compiled by: Gary Ma Wu Discusses Blockchain

Summary
Wu Discusses This Week's Macroeconomic Indicators and Analysis: Key focus this week includes US November non-farm data, the Federal Reserve's economic conditions Beige Book, and Powell's speech.

Last Week Review

  • Federal Reserve Releases November Monetary Policy Meeting Minutes: The number of decision-makers who believe a gradual interest rate cut is appropriate due to uncertainty around neutral interest rates has changed from 'some' to 'many'; almost all decision-makers believe that the risks regarding employment and inflation remain broadly balanced, some believe that the downside risks to economic activity and the labor market have decreased, and many believe that the risk of a cooling labor market since the September meeting has diminished; some believe that the adjustment of the ON RRP rate should be considered to align with the lower bound of the federal funds rate. 'New Federal Reserve News Agency': The minutes suggest that if inflation progress stagnates, rate cuts will be approached with more caution; Federal Reserve officials discussed a technical adjustment of the ON RRP rate down by 5 basis points at the 'next meeting'. (Wall Street Watch)

  • US Q3 Real GDP Annualized Quarter-on-Quarter Revision is 2.8%, in line with expectations and initial values.

  • US October Core PCE Price Index Year-on-Year increased from 2.7% to 2.8%, also in line with expectations.

  • For the week ending November 23, the number of initial jobless claims in the US is 213,000, expected 216,000, previous value revised from 213,000 to 215,000.



Key Events & Indicators This Week
December 02

  • UK, US, France, Germany, Eurozone Manufacturing PMI

  • China November Caixin Manufacturing PMI (09:45)


December 04

  • US November ADP Employment Change (thousands) (21:15)

  • China November Caixin Services PMI (09:45)

  • UK, US, France, Germany, Eurozone Services PMI


December 05

  • Federal Reserve Chairman Powell is invited to be interviewed at the DealBook/Summit conference hosted by The New York Times (02:45)

  • Federal Reserve Releases Economic Conditions Beige Book (03:00)

  • For the week ending November 30, the number of initial jobless claims in the US (thousands) (21:30)


December 06

  • US November Unemployment Rate (21:30)

  • US November Seasonally Adjusted Non-Farm Employment (thousands) (21:30)