Week ahead: Brexit, Fedspeak and US-China trade talks in focus
Investors will have their plates full over the coming week with a slew of risk events to digest, including around Brexit, central bank policy in America and trade talks between China and the US.
All of the above will occur against a backdrop of heightened investor nervousness in the wake of the recent sharp correction across asset classes, including in credit markets.
Indeed, as Stephen Innes, Oanda Head of Trading APAC, explained to clients: "It's starting to feel a lot like Christmas, but that's not from cheery perspective mind you, but instead, traders are beginning to fold their cards as the markets have that remarkable tendency to swing one way into year end. But with month-end approaching and when combined with year-end flows, markets could get messy and noisy next week."
The first hurdle will come on Sunday, as the European Union and the UK try to wrap-up an agreement on Britain's future relationship with the bloc and with any negative headlines or delays likely to feed immediately into the pound's value, even if only temporarily.
Then, early on Monday, European Central Bank chief, Mario Draghi, and his chief economist, Peter Praet, are scheduled to make speeches which may move markets, following on from recent weaker-than-expected readings on the euro area economy, although some economists expect the recent slide in oil to act as at least a partial offset.
Towards the middle of the week, on Tuesday and Wednesday, all eyes will be on speeches from US Federal Reserve vice president Richard Clarida, on Tuesday at 1330 GMT, and his boss, Jerome Powell, on Wednesday at 1700 GMT.
How hawkish are they still? Are we close or far away from 'neutral' on interest rates? Investors want to know.
Possibly impacting on the above, although recent Fed communications seem to focus more on the very tight conditions in the labour market, will be inflation data released on Thursday, in the form of the latest reading on the price deflator for personal consumption expenditures in the US.
Not to lose sight of, the US PCE data will be followed by readings on consumer prices in the Eurozone and Japan on Friday.
Also on Friday, and close on the heels of last weekened's acrimonious APEC meeting, investors will be waiting on the headlines coming out of the week's key event, outside the UK, the G-20 summit in Buenos Aires and the one-to-one talks scheduled between US President Donald Trump and China's Xi Jinping.
Monday November 26
INTERIMS
Augmentum Fintech, Cake Box Holdings, D4T4 Solutions, Fusion Antibodies , Kainos Group , Palace Capital , Polar Capital Holdings, Sysgroup
INTERIM DIVIDEND PAYMENT DATE
BlackRock Smaller Companies Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
BBA Mortgage Lending Figures (09:30)
IFO Business Climate (GER) (09:00)
IFO Current Assessment (GER) (09:00)
IFO Expectations (GER) (09:00)
Q3
Bank of Cyprus Holdings Public Limited Company
FINALS
Sanderson Group
AGMS
JPEL Private Equity USD Equity Shares , Mila Resources
FINAL DIVIDEND PAYMENT DATE
El Oro Ltd, SCS Group
Tuesday November 27
INTERIMS
Amigo Holdings, Cranswick, De La Rue, GB Group, IG Design Group, Pennon Group, Pets at Home Group , Quiz, Severfield, Victoria, VP
INTERIM DIVIDEND PAYMENT DATE
Toyota Motor Corp.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
House Price Index (US) (14:00)
Q2
Amigo Holdings
Q3
Nostrum Oil & Gas
FINALS
Gooch & Housego, Renew Holdings, Shaftesbury, Topps Tiles, Treatt, UDG Healthcare Public Limited Company
AGMS
Allergy Therapeutics, Inland Homes, JPMorgan Global Markets Emerging Income Trust, Scotgold Resources (DI)
TRADING ANNOUNCEMENTS
Blue Prism Group, Intertek Group
UK ECONOMIC ANNOUNCEMENTS
CBI Distributive Trades Surveys (11:00)
Wednesday November 28
INTERIMS
Findel, Grafenia , LondonMetric Property, RPC Group, Telford Homes
INTERIM DIVIDEND PAYMENT DATE
William Hill
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Crude Oil Inventories (US) (15:30)
GDP (Preliminary) (US) (13:30)
GFK Consumer Confidence (GER) (12:00)
GFK Consumer Confidence (GER) (07:00)
M3 Money Supply (EU) (09:00)
MBA Mortgage Applications (US) (12:00)
New Homes Sales (US) (14:00)
GMS
Communisis, Restaurant Group
FINALS
Brewin Dolphin Holdings, On The Beach Group , Ten Lifestyle Group
EGMS
Arcontech Group
AGMS
Arc Minerals Limited NPV (DI), BATM Advanced Communications Ltd., Croma Security Solutions Group, Harvest Minerals Limited (DI), JPMorgan Smaller Companies Inv Trust, PRS Reit (The) , Range Resources Ltd. (DI), Revolution Bars Group, Target Healthcare Reit Ltd, Thor Mining
TRADING ANNOUNCEMENTS
Jadestone Energy Inc NPV (DI), Senior
UK ECONOMIC ANNOUNCEMENTS
BRC Shop Price Index (00:01)
Thursday November 29
INTERIMS
BCA Marketplace, Fidelity China Special Situations , Great Eastern Energy Corp Ltd. GDR, Greene King, Latham (James), LXI Reit , Motorpoint Group, PayPoint, Scholium Group, XPS Pensions Group
INTERIM DIVIDEND PAYMENT DATE
Bloomsbury Publishing, British American Inv Trust, Panther Securities
INTERIM EX-DIVIDEND DATE
600 Group, Caledonia Investments, CMC Markets, CML Microsystems, Creightons, Cropper (James), Electrocomponents, Establishment Inv Trust, First Property Group, Gresham House Strategic , Headlam Group, Helical, Hill & Smith Holdings, International Consolidated Airlines Group SA (CDI), JD Sports Fashion, Johnson Matthey, Liontrust Asset Management, Majestic Wine, Martin Currie Asia Unconstrained Trust , Norcros, Prime People, Redcentric, Renewi , Severn Trent, TalkTalk Telecom Group , Tarsus Group, Telecom Plus, TR Property Inv Trust, Triple Point Income VCT
QUARTERLY PAYMENT DATE
Greencoat Renewables
QUARTERLY EX-DIVIDEND DATE
Alpha Real Trust Ltd., Blackrock North American Income Trust , Canadian General Investments Ltd., Diversified Gas & Oil, Land Securities Group, Volta Finance Limited
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Business Climate Indicator (EU) (10:00)
Consumer Confidence (EU) (10:00)
Continuing Claims (US) (13:30)
Economic Sentiment Indicator (EU) (10:00)
Industrial Confidence (EU) (10:00)
Initial Jobless Claims (US) (13:30)
Pending Homes Sales (US) (15:00)
Personal Consumption Expenditures (US) (13:30)
Personal Spending (US) (13:30)
Services Confidence (EU) (10:00)
Unemployment Rate (GER) (08:55)
FINALS
Character Group, Daily Mail and General Trust A (Non.V), Lonmin, Premier Asset Management Group, Urban&Civic
ANNUAL REPORT
IronRidge Resources Limited (DI), URA Holdings
SPECIAL EX-DIVIDEND DATE
Keystone Inv Trust, VinaLand Ltd
EGMS
Real Estate Credit Investments Ltd
AGMS
ASOS, Crown Place VCT, CVS Group, Dunelm Group, Ferguson, Global Petroleum Ltd., Grit Real Estate Income Group Limited NPV (DI), Hotel Chocolat Group , Investment Company, IronRidge Resources Limited (DI), Kin and Carta , Oilex Ltd.
TRADING ANNOUNCEMENTS
Go-Ahead Group, Irish Continental Group Units, Thomas Cook Group
UK ECONOMIC ANNOUNCEMENTS
Consumer Credit (09:30)
M4 Money Supply (09:30)
Mortgage Approvals (09:30)
Nationwide House Price Index (07:00)
FINAL DIVIDEND PAYMENT DATE
JPMorgan Emerging Markets Inv Trust, Thorpe (F.W.), Wetherspoon (J.D.)
FINAL EX-DIVIDEND DATE
Aviva 8 3/4% Cumulative Irrd Preference 1, Baillie Gifford Japan Trust, Bellway, Brunner Investment 5% Prf, Carr's Group, Diploma, Euromoney Institutional Investor, General Accident 'A', Origin Enterprises, Sherborne Investors (Guernsey) 'B' Limited
Friday November 30
INTERIMS
Naspers Ltd. ADR
INTERIM DIVIDEND PAYMENT DATE
Anpario, BAE Systems, Balfour Beatty, Gore Street Energy Storage Fund , Hansa Trust, Hilton Food Group, London Security, Mission Marketing Group, RTC Group, Scottish Mortgage Inv Trust, Senior, U And I Group
QUARTERLY PAYMENT DATE
APQ Global Limited, City of London Inv Trust, Civitas Social Housing , Civitas Social Housing C Shs, Custodian Reit , F&C Commercial Property Trust Ltd., Picton Property Income Ltd
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Chicago PMI (US) (14:45)
Retail Sales (GER) (07:00)
Unemployment Rate (EU) (10:00)
SPECIAL DIVIDEND PAYMENT DATE
Artemis VCT, Diverse Income Trust (The), ProVen Growth & Income VCT, ProVen VCT
AGMS
Bluefield Solar Income Fund Limited, DFS Furniture, Eqtec, Oncimmune Holdings, Purecircle Limited (DI), Quadrise Fuels International, Salt Lake Potash Limited (DI), Volta Finance Limited NPV (GBP)
UK ECONOMIC ANNOUNCEMENTS
GFK Consumer Confidence (00:01)
FINAL DIVIDEND PAYMENT DATE
Abcam, Clinigen Group, Croma Security Solutions Group, Genus, Mid Wynd International Inv Trust, New Star Investment Trust, Sylvania Platinum Ltd (DI), TR European Growth Trust