U.S. manufacturing and service industry PMI results are announced, but attention is being paid to whether the economy shrinks.

Nov. 20 Key Weeks: Government Bond Auction And Nvidia Earnings Release

11/20 Key Schedule This Week: Treasury Auctions And Nvidia Earnings Announce

November 20th Monday
① A 20-year U.S. Treasury bid is ready. Demand for long-term bidding is important because the sharp drop in demand in the bidding for 30-year government bonds last week led to a surge in interest rates.
② Attention is also paid to China’s decision on LPR rates. It is expected to freeze interest rates, but the possibility of a rate cut cannot be ruled out behind the economic slowdown.
③ As negotiations between Israel and Hamas on the release of hostages are underway, related expectations are also high. The U.S. government noted progress in negotiations.
④ BOE President Bailey’s remarks on the same day were also noted amid a contraction in retail sales in the UK last Friday. As related remarks are expected to change the pound

11/21 Tuesday
① The release of the minutes of the FOMC is underway. Attention is focusing on whether the possibility of the Fed ending its rate hike policy will be highlighted. As interest rates have stabilized since the FOMC, it’s important to further expand related expectations in the minutes
② There is a bid for a two-year government bond, and attention is paid to the short-term interest rate depending on the result.
③ Chicago Fed, which can know economic activity along with existing U.S. home sales numbers, may stimulate concerns about a slowdown in the release of the National Activity Index, and may also affect interest rates
④ Nvidia’s earnings are announced after the market closes, as it showed a sharp growth in sales last quarter and has since driven strong technology stocks. However, since it jumped 21% in November alone, the direction of the index will be determined by whether or not to continue the upward trend after the results are announced. In addition, there are performance announcements such as Loire, Medtronics, Analog Devices, Baidu, Best Buy, and Kohl’s before the market begins, and after the market closes, there are performances such as Nvidia, Auto Desk, HP, Nordstrom, and Goose. Changes can be magnified depending on the results.

Wednesday, November 22
① The announcement of the fixed consumer sentiment index at the University of Michigan shows that shrinking consumer sentiment is important, but whether or not expected inflation is corrected. In the preliminary, one-year expected inflation rose to 3.2% in September and 4.2% in October, while the increase widened to 4.4% in November

11/23 Thursday
① Closed for Thanksgiving Day in the United States
② The release of the ECB monetary policy minutes is underway, and the market is likely to pay more attention to comments related to the eurozone economy rather than the issue of a rate freeze. This could affect the change in the euro

11/24 Friday
① Consumption behavior is important for Black Friday in the U.S. The National Retail Association expects sales for the year-end shopping season to increase by 3-4 percent year-on-year this year, the lowest level since last year’s 5.4 percent as well as 1.7 percent in 2018. However, through Thanksgiving, Black Friday, and Cyber Monday on the 27th, the number of people planning to buy goods is expected to be 182 million, up 15.7 million from last year. Especially focusing on Cyber Monday
② U.S. manufacturing and service industry PMI results are announced, but attention is being paid to whether the economy shrinks. Depending on the results, volatility in the foreign exchange and bond markets may increase. In addition, the German IFO corporate environment index is announced, and the euro changes depending on the results

conclusion
This week, the market expects changes, noting changes in interest rates through government bond bids and FOMC minutes. Furthermore, Nvidia is expected to perform better than expected, but it jumped more than 20% this month alone, and whether Nvidia will make further gains after the results or sell profit-taking will determine the direction of the big tech stocks that drove the U.S. stock market’s gains