8:27 AM · 23 November 2021

Economic calendar: Flash PMIs, Biden's speech

EUR/USD
Forex
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  • European markets expected to open lower today

  • Flash PMIs from Europe and the United States

  • Biden to deliver speech at 7:00 pm GMT

Futures markets point to a lower opening of today's European trading session. This comes after a downbeat session on Wall Street yesterday and a mixed session in Asia today. Key macro data of the day will be released in the morning - European flash PMIs for November. French reading at 8:15 am GMT and German reading at 8:30 am GMT will be the most closely watched ones. Both are expected to show deterioration in manufacturing and services sectors. On the contrary, US PMI reading in the afternoon (2:45 pm GMT) is expected to show improvement.

Another big event to follow today is a speech from US President Biden at 7:00 pm GMT. Biden will speak on economy and inflation. It was rumoured that he may announce the next Fed chair during the speech but as the announcement was already made yesterday, there is some chatter that SPR release announcement may come during the speech.

8:15 am GMT - France, PMI indices for November (flash).

  • Manufacturing. Expected: 53.0 Previous: 53.6

  • Services. Expected: 55.9 Previous: 56.6

8:30 am GMT - Germany, PMI indices for November (flash).

  • Manufacturing. Expected: 56.9. Previous: 57.8

  • Services. Expected: 51.5. Previous: 52.4

9:00 am GMT - Euro area, PMI indices for November (flash).

  • Manufacturing. Expected: 57.2 Previous: 58.3

  • Services. Expected: 53.6 Previous: 54.6

9:00 am GMT - Poland, retail sales for October. Expected: 12.4% YoY. Previous: 11.1% YoY

9:30 am GMT - UK, PMI indices for November (flash).

  • Manufacturing. Expected: 57.5 Previous: 57.8

  • Services. Expected: 58.4 Previous: 59.1

2:45 pm GMT - US, PMI indices for November (flash).

  • Manufacturing. Expected: 59.0 Previous: 58.4

  • Services. Expected: 59.1 Previous: 58.7

7:00 pm GMT - Biden speaks on economy and inflation

9:40 pm GMT - API report on oil inventories. Expected: -1.1 mb. Previous: +0.65 mb

Asian session

  • 0:30 am GMT - Japan, manufacturing PMI for November

  • 1:00 am GMT - RBNZ rate decision

US earnings releases

  • Medtronic (MDT.US) - before market open

  • Best Buy (BBY.US) - before market open

  • Dollar Tree (DLTR.US) - before market open

  • Dell Technologies (DELL.US) - after market close

  • HP (HPQ.US) - after market close

  • Autodesk (ADSK.US) - after market close

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