Oh Sh*t, It’s REALLY Happening
Category: Uncategorized
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Central bank digital currency (CBDC)
Central bank digital currency (CBDC)
We are building the capability to issue a digital version of the Canadian dollar—known as a central bank digital currency (CBDC)—that Canadians can trust and rely on so we can be ready should the need arise. Currently, we do not have plans to issue a digital currency. Ultimately, Parliament and the Government of Canada will determine if or when to issue a CBDC.
WATCH THIS:
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Calendar: Nov 28 – Dec 2
Calendar: Nov 28 – Dec 2
Monday, November 28
(830 am ET) Canada current account balance
Earnings include: Pinduoduo Inc.
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Tuesday, November 29
Japan jobless rate and retail sales for October
Euro area economic and consumer confidence indexes
(830 am ET) Canada real GDP for the third quarter. BMO expects an annualized growth rate of 1.5%, with a flat reading for September.
(9 am ET) U.S. S&P CoreLogic Case-Shiller 20-city Home Price Index for September. Consensus is for a 1.2% drop from August, but with prices up 10.7% year over year. Also FHFA House Price Index to be released.
(10 am ET) U.S. Conference Board consumer confidence index for November. Consensus is for the index to fall to 100 from October’s 102.5.
Earnings include: Bank of Nova Scotia; Hewlett Packard Enterprise Co.; Intuit Inc.; Shaw Communications Inc.; Workday Inc.
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Wednesday, November 30
China PMIs and industrial production
Euro area CPI for November, plus German unemployment data and the latest GDP readings from France and Italy.
(815 am ET) U.S. ADP National Employment Report for November.
(830 am ET) U.S. real GDP for the third quarter. Consensus is for annualized growth of 2.7%.
(830 am ET) U.S. goods trade deficit for October.
(830 am ET) U.S. wholesale and retail inventories.
(945 am ET) Chicago PMI
(10 am ET) U.S. pending home sales for October. Consensus is for a 5.2% decline.
(10 am ET) U.S. job openings and labor turnover survey.
(130 pm ET) Fed Chair Powell speaks in Washington on the economic outlook
(2pm ET) U.S. Fed Beige Book
Earnings include: BRP Inc.; National Bank of Canada; Royal Bank of Canada; Salesforce Inc.
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Thursday, December 1
China Caixin manufacturing PMI for November. Japan capital spending, manufacturing PMI and consumer confidence data.
Euro area jobless rate for October, plus German retail sales. UK manufacturing PMI for November and nationwide house prices.
(830 am ET) Canada labour productivity for the third quarter.
(930 am ET) S&P global manufacturing PMI for Canada for November.
(830 am ET) U.S. initial jobless claims.
(830 am ET) U.S. personal spending and personal income for October. Consensus is for rise of 0.8% and 0.4%, respectively.
(830 am ET) U.S. core PCE price index for October. Consensus is for a rise of 0.3% on a monthly basis, or 5% from a year earlier.
(945 am ET) U.S. S&P global manufacturing PMI for November.
(10 am ET) U.S. construction spending for October. Consensus is for a drop of 0.2%.
North American auto sales
Earnings include: Bank of Montreal; Canadian Imperial Bank of Commerce; Dollar General Corp.; Toronto-Dominion Bank
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Friday, December 2
Euro area producer price index, Germany trade surplus and France industrial production data.
(830 am ET) Canada employment for November. BMO expects net job gains of 10,000 – well below the gains of 108,300 in October. It expects the unemployment rate to rise to 5.3% from 5.2%. Consensus is for average hourly wages to be up 5.4% from a year earlier, slightly below October’s 5.6% gain.
(830 am ET) U.S. nonfarm payrolls for November. Consensus is for net job gains of 200,000, below October’s gains of 261,000, with the unemployment rate holding steady at 3.7%. Average hourly earnings are forecast to be up 4.6% from a year ago.
Earnings include: Canadian Western Bank; Marvell Technology Group Ltd.
Sunday, December 5
OPEC+ meeting
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Beijing grinds to a near halt as China’s capital city battles Covid with more lockdowns
Beijing grinds to a near halt as China’s capital city battles Covid with more lockdowns
- More and more apartment compounds in Beijing on Friday forbade residents from leaving for at least a few days.
- “You constantly hear of someone going into lockdown and you have this constant feeling that you’re going to be next,” Joerg Wuttke, president of the EU Chamber of Commerce in China, said Friday.
- It was not clear how many people were affected at a city level, and to what degree stay-in-place measures were being enforced.
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Oil falls as supply-disruption fears ease amid Russian price cap talks
Oil falls as supply-disruption fears ease amid Russian price cap talks
PUBLISHED THU, NOV 24 202212:05 AM EST
- Oil prices fell on Thursday, extending losses from the previous session, as fears of supply disruption eased on news that the Group of Seven (G7) nations were considering a high price cap on Russian oil.
- A greater-than-expected build-up in U.S. gasoline inventories added to downward pressure.
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Apple and Elon Musk’s Twitter are on a collision course
Apple and Elon Musk’s Twitter are on a collision course
- Musk wants to vastly increase the amount of money the company makes through subscriptions while opening up the site to more “free speech.”
- This creates a risk that Twitter could violate Apple or Google’s app rules in a way that slows down the company or even gets its software booted from app stores.
- Battle lines are being drawn. Last week, Musk complained about app store fees, which are between 15% and 30% of digital sales, in a tweet.
https://www.cnbc.com/2022/11/23/apple-and-elon-musks-twitter-are-on-a-collision-course.html
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China may have ‘passed the point of no return’ as Covid infections soar
China may have ‘passed the point of no return’ as Covid infections soar
- In the last few days, the mainland China daily Covid case count has climbed to around or more than 28,000 — near levels seen in April during a stringent lockdown in Shanghai, according to CNBC calculations of Wind Information data.
- “China might have already passed the point of no return, as it’s unlikely to achieve zero Covid again without another Shanghai-style hard lockdown,” Macquarie’s Chief China Economist Larry Hu said in a report Tuesday.
- In GDP terms, nearly 20% of China’s economy was negatively affected by Covid controls as of Monday, close to the high of 21.2% recorded in mid-April during Shanghai’s lockdown, Nomura’s Chief China Economist Ting Lu said, citing the firm’s model.
