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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

08:51 · 18 November 2021

Economic calendar: CBRT rate decision, Fed speakers

  • European markets seen opening flat

  • CBRT expected to cut rates

  • 4 Fed speeches scheduled

Futures markets point for flat or slightly higher opening for the majority of European blue chips indices today. Oil continues to slide on reports that China released strategic reserves. Safe haven currencies like CHF and JPY are lagging while NZD gains after inflation expectations data that most likely cements decision on rate hike next week.

CBRT rate decision is a big event of the day. Erdogan vowed yesterday to keep fighting interest rates, exerting pressure on central bank members ahead of today's meeting. Market expects the main 1-week rate to be cut from 16.00% to 15.00% but a bigger cut cannot be ruled out. Turkish lira is expected to experience large volatility near the announcement hour. Apart from that, investors will be offered some second-tier data from the US that is unlikely to influence markets. 

11:00 pm GMT - CBRT rate decision

1:30 pm GMT - US, jobless claims. Expected: 260k. Previous: 267k

1:30 pm GMT - US, Philadelphia Fed index for November. Expected: 24.0. Previous: 23.8

3:30 pm GMT - US, natural gas storage. Expected: 25 bcf. Previous: 7 BCF

Central bankers' speeches

  • 1:00 pm GMT - Fed Bostic

  • 2:30 pm GMT - Fed Williams

  • 7:00 pm GMT - Fed Evans

  • 8:30 pm GMT - Fed Daly

Top Wall Street earnings

  • Alibaba Group (BABA.US) - before market open

  • Intuit (INTU.US) - after market close

  • Applied Materials (AMAT.US) - after market close

  • JD.com (JD.US) - before market open

  • Ross Stores (ROST.US) - after market close

  • Macy's (M.US) - before market open

  • Kohl's Corporation (KSS.US) - before market open

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