Investing.com – This week attention will shift to U.S. inflation data after the Federal Reserve indicated that it is still on course to hike interest rates in December.
Wednesday’s inflation data is expected to show that consumer prices rose in October. Investors will get another update on the health of U.S. consumers from Thursday’s retail sales numbers, which are expected to show an increase from the previous month.
Investors will also be watching a speech by Fed Chairman Jerome Powell in Dallas on Wednesday, where he is expected to discuss national and global economic issues, as well as appearances by a handful of other Fed speakers, including Vice Chair Randal Quarles.
Outside of the U.S., Brexit negotiations will remain in focus amid reports that the UK and European Union are edging closer to a draft deal. UK wage growth and inflation figures will also be closely watched.
The euro zone, Germany and Japan are to release preliminary data on third quarter growth. Meanwhile, Italy has until Tuesday to submit a new draft budget to Brussels, so the ongoing budget row between Brussels and Rome will likely remain in focus.
The dollar rose against a basket of the other major currencies on Friday, a day after the Fed indicated that rates are likely to rise again in December and beyond, with the U.S. economy looking strong on almost every front.