Key Economic News To Watch This Week: Nov. 28
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A quick preview of the key economic events for the upcoming week:
A quick preview of the key economic events for the upcoming week:
Last week’s failed German bond auction brought the euro to new lows, with the auction results suggesting that contagion may have reached what many see as the strongest economy of the eurozone. Over the weekend, Italian newspaper La Stampa reported that the nation is seeking a hefty bailout from the IMF – a move that will soothe the nerves of rattled investors.
This week also marks the start of the last month of the year. A series of U.S. economic data will be released, as investors ponder the impact of the debt crisis, the state of the U.S economy and the chances of a QE3 announcement at the Fed’s December meeting.
Monday, 28 November
Egyptians go to the polls in the country’s first post-Mubarak elections, following renewed protests at continuing military rule.
Related: Deadly violence erupts in Cairo
Related Story: Mubarak’s legacy of debt: Saifedean Ammous
The 17th Conference of the Parties to the UN framework convention on climate change takes place in Durban. Common ground on combating climate change beyond the Kyoto Protocol is sought, though expectation for success is pessimistic.
Related Story: Dirty oil, dirty tactics – The Keystone CL pipeline: Jody Williams & Desmond Tutu
A US-EU summit takes place in Washington with President Barack Obama holding talks with Herman Van Rompuy, president of the European Council, José Manuel Barroso, president of the European Commission, and Catherine Ashton, EU foreign policy chief. Topics will include global economic issues, bilateral relations and foreign policy.
Presidential and national assembly elections take place in the Democratic Republic of the Congo.
Tuesday, 29 November
Finance ministers of the Eurogroup, the European Union states whose currency is the euro, meet in Brussels.
The European Wind Energy Association holds its conference and exhibition in Amsterdam.
Related Story: Blowing in the wind: Europe’s energy debate has stalled
The World Agricultural Forum holds its annual congress in Brussels, with the theme being agriculture for a sustainable future.
The U.S. Consumer Confidence Index is released and is forecast to recover from a disappointing drop to 39.8 in September to 43.0 in October.
Related: EconomyWatch’s real-time global consumer confidence index
Wednesday, 30 November
The UK prepares for a one-day strike by workers of the public sector over government plans to amend pension entitlements, with Unions threatening action.
The Economic and Financial Affairs Council assembles in Brussels to debate the eurozone debt crisis and growth prospects. EU capital requirements for banks will also be on the agenda.
The Financial Times holds its Bank of the Year awards ceremony in London.
Related: Bankers in London need mental help
Thursday, 1 December
Transparency International, which combats corruption worldwide, publishes its annual Corruption Perceptions Index. It will rank 183 countries by perceived levels of public sector corruption.
Related: Russian firms fare worst in bribery index
Related Statistics: Freedom from Corruption Index, Corruption Perceptions Index Rank and Score
Friday, 2 December
U.S. employment rate is announced, with expectations that the figure will remain at a six-month low of 9.0 percent, allaying fears of a second recession. However the pace of recovery needs to accelerate in order to see real changes in the U.S. labour market.
Sunday, 4 December
A parliamentary election takes place in Russia, and a general election is held in Croatia.
Related: Gorbachev: Putin has “castrated” democracy in Russia
Related Story: A new Russian empire: What exactly is Putin planning?
