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What to Watch in the Week Ahead and on Monday, December 5

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A survey from the Institute for Supply Management is scheduled to show its non-manufacturing PMI
fell to 53.1 in November from 54.4 in October. The Commerce Department is expected to report
that factory orders rose 0.7% in October after increasing 0.3% in September. The S&P Global
composite PMI final and services PMI final are also due for release.
Ford Motor Co CEO Jim Farley and Stellantis NV North American COO Mark Stewart are scheduled to
speak at the Automotive News Congress to be held in Detroit.
Statistics Canada is expected to release Canadian building permits for October.
The S&P Global services and composite PMI data for Brazil for November is due for release.
Separately, the national statistics agency of Mexico is scheduled to release consumer confidence
index data for November.
On the U.S. economic tap, the Labor Department is scheduled to report a rise in initial jobless
claims on Thursday to 230,000 for the week ended Dec. 3, from 225,000 in the previous week.
Continued jobless claims data is also due for release. The Labor Department is expected to
report on Friday the producer price index for final demand rose 7.2% in the 12 months through
November, compared to an 8.0% rise in the year-ago period. On a month-on-month basis, the
producer price index for final demand likely remained unchanged at 0.2% in November. The
producer price index, excluding food and energy, likely fell 5.9% in November. The Commerce
Department is set to report on Tuesday a U.S. trade deficit of $79.1 billion in October, up from
a deficit of $73.3 billion in the previous month. On Friday, the University of Michigan is set
to report that preliminary December reading on the overall index on consumer sentiment rose to
57.0 from 56.8 in the previous month. Meanwhile, the Commerce Department is scheduled to release
wholesale inventories data on the same day.
Costco Wholesale Corp on Thursday is expected to post a rise in first-quarter revenue,
benefiting from a resilient demand for its fresh food, grocery and fuel offerings even in the
face of decades-high inflation. Investors will be on the lookout for comments from the company
on impacts from inflation, stronger dollar, shift in consumer behavior and trends during the
Thanksgiving weekend.
On Thursday, U.S. oil major Exxon Mobil Corp is expected to release details of its capital
spending and oil production plans through 2027. The company will also hold a conference call
with analysts to update its corporate plan thereafter.
The Bank of Canada is expected to increase the interest rate to 4.25% from 3.75% when it
announces its rate decision on Wednesday. Separately, Sharon Kozicki, deputy governor at the
Bank of Canada, will give an economic progress report on Thursday.
Lululemon Athletica Inc on Thursday is expected to report a rise in third-quarter revenue,
benefiting from strong demand for its sportswear and athleisure apparel as well as price
increases. Investors will look out for comments on a shift in consumer spending, excess
inventory, supply-chain disruptions, impact of the Russia-Ukraine conflict and COVID-19
lockdowns in China.
Former Theranos Inc President Ramesh “Sunny” Balwani is scheduled to be sentenced on Wednesday
by a U.S. judge on his convictions for defrauding investors in the blood testing startup and
patients who received flawed tests.
On Friday, Turquoise Hill shareholders will vote on Rio Tinto’s $3.3-billion bid to buy them
out, which would deliver to Rio majority ownership and control of the giant Oyu Tolgoi copper
mine in Mongolia.
Canada’s Ivey Purchasing Managers Index data is due for release on Tuesday. Statistics Canada is
set to release the trade balance report for October on Tuesday and the Canadian industries’
capacity utilisation report for the third quarter on Friday.
The Brazilian central bank’s rate decision is expected on Wednesday. Inflation data for November
in Brazil as measured by the IGP-DI price index, and auto sales data for November are also due
for release on Wednesday. Brazil’s retail sales data for October is due for release on Thursday.
On Wednesday, Mexico’s central bank will publish its financial stability report. Mexico’s
inflation, producer price index and consumer price index data are expected on Thursday.
Argentina’s industrial output data for October is due for release on Wednesday. On Tuesday,
Chile’s central bank is expected to announce its interest rate decision. Chile’s inflation and
trade balance data for November are due on Wednesday. Peru’s central bank interest rate decision
is scheduled for Wednesday.
Reuters FX analyst Jeremy Boulton discusses G7 currencies and select EM FX pairs. (0600 ET/1100
GMT) To join the discussion, click here
(Compiled by Ananya Roy in Bengaluru; Edited by Shilpi Majumdar)

Read More: What to Watch in the Week Ahead and on Monday, December 5

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