Agenda: Speech by Powell, Beige Book, unemployment in Brazil and what moves the market today

The economic agenda in the United States will be busy this Wednesday (30), as Federal Reserve Chairman Jerome Powell told the Brookings Institute in the afternoon. As a result, US futures indices are trading mixed and close to stability. Investors are waiting for more clues about the next step in rates, if it drops to 50 […]

The economic agenda in the US will be full this Wednesday (30), as Federal Reserve Chairman Jerome Powell told the Brookings Institution this afternoon. As a result, US futures indices are trading mixed and close to stability. Investors are waiting for more clues about the next rate hike, whether it will drop to 50 basis points or make a fifth consecutive 75 basis point hike.

Today’s calendar also reserves ADP and Jolts employment data, the second reading of third-quarter GDP, and pending home sales. The main indicator will be the Beige Book, which will bring the view of the different districts in relation to inflation, employment and housing.

Among the indicators in Europe, the market reacts to the consumer price index in the euro area, which showed a cooling to 10.0% in November, according to preliminary data, below market estimates of 10.4 %.

In Brazil, the agenda is leaner, but equally important, with the unemployment rate the main public sector achievement, among others. In the political scenario, the Transition PEC has reached the minimum number of signatures to be tried in the Senate. The text should pass next week to the Constitution and Justice Commission (CCJ).

Asia

Asian stocks closed mostly higher on Wednesday. Investors remain optimistic about easing restrictions related to China’s Covid-zero policy after protests erupted in several major cities across the country.

Europe

European markets were trading higher today as investors reacted to the latest eurozone inflation data for November. Asia-Pacific stocks closed higher today, although China’s April activity reading for November fell below expectations, falling to its lowest value since April.

economic agenda

• New government: Transition working groups present reports
• Eurozone/Eurostat: Preliminary November CPI (7:00)
• FGV: November Business Confidence (8am)
• IBGE/PNAD Contínua: Unemployment rate for the quarter to October (9h)
• BC: Public sector expected to have primary surplus of BRL 26.90 billion in October (9:30am)
• FGV: Brazil Economic Uncertainty Indicator (IIE-Br) for November (10:15am)
• US/ADP Private Sector Job Creation Report for November (10:15am)
• US/Dept of Commerce: Q3 GDP reading (10:30am)
• USA: Fed Director Michelle Bowman attends ‘The Future of Small Banks’ event (10:50am)
• US/ISM/Chicago: November PMI (11:45am)
• US/NAR: October Pending Home Sales (12:00)
• US/Department of Labor: October Jobs Report (Shock) (00:00)
• US/DoE: Oil inventories for the week ending November 25 (12:30)
• USA: Fed Board Member Lisa Cook Attends Detroit Economic Club Event (2:35pm)
• USA: Fed Chairman Jerome Powell speaks at Brookings Institute event (3:30pm)
• US: Fed releases Beige Book (4pm)
• Japan/S&PGlobal/Jibun Bank: November manufacturing PMI (21:30)

*With information on BM&C Now and BDM

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Source: Terra

Camila

Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.