Get ready for a busy week as we all wait and see how markets react to Reserve Bank (RBA) and US Federal Reserve (FOMC) minutes, along with critical earnings updates from Nvidia and other major companies.

Markets continue to assess the outlook for interest rates as inflation lingers above target. Meanwhile, Australian wage data, global PMI figures and US housing activity round out a packed macro calendar.

As always, this information comes from the team at CommSec.

Monday 17 November

US: Empire State manufacturing index (November)
Tipped to dip to 5.8 from 10.7. A potential sign of slowing regional growth.

US: ADP weekly employment
A timely measure of private payrolls. Useful ahead of upcoming jobs data.

Australia: Elders and Australian Agriculture Co trading updates
Agribusiness results will give insight into food production and commodity trends.

Australia: FleetPartners Group earnings
Fleet leasing group reports trading performance.

Tuesday 18 November

Australia: RBA monetary policy meeting minutes (November)
The RBA left the cash rate on hold at 3.60%. Markets will comb the minutes for future policy guidance.

US: Export & import prices (October)
Import index excludes taxation on goods. Inflation signals will be closely watched.

US: Industrial production (October)
Output could be flat. Key for understanding US manufacturing momentum.

US: NAHB housing market index (November)
Tipped to lift from 37 to 38. Confidence in the housing market may be stabilising.

Australia: Technology One, Webjet, ALS earnings
Updates from software, travel and lab-testing firms will be assessed for growth and margin resilience.

Wednesday 19 November

Australia: Wage Price Index (WPI, September quarter)
Wages are tipped to grow 0.8%. Annual growth could ease to 3.3% from 3.4%, easing inflation pressures.

US: Housing starts & building permits (October)
Expected to remain at their lowest levels since May 2020. A weak print could dampen construction sentiment.

US: FOMC meeting minutes (October)
The Fed cut rates by 25 basis points. Minutes may provide clarity on how many more cuts are coming.

Australia: James Hardie, Web Travel, Plenti Group, Nufarm earnings
A heavy day of company reporting focused on construction, consumer finance and agri.

US: Nvidia earnings (September quarter)
The chip giant’s AI-fuelled rally has defined market optimism. Results post-closing bell will be pivotal.

Thursday 20 November

Australia: RBA Assistant Governor Sarah Hunter speaks
Remarks at the Australia Industry Group, Sydney. May provide insight on wages and productivity.

Australia: RBA Head of Payments Policy Ellis Connolly speaks
Speaking at the Women in Payments Symposium, Sydney. Potential comments on digital finance and regulation.

China: 1- and 5-year loan prime rates (LPRs)
No change is expected. A key policy reference rate for Chinese lending.

US: Philadelphia Fed manufacturing index (November)
Tipped to rebound to -1.5 from -12.8. A sign that weakness may be stabilising.

US: Conference Board leading index (October)
Expected to fall 0.3%. A broad gauge of US economic momentum.

US: Existing home sales (October)
Sales could lift 0.7%. Might support homebuilder sentiment if sustained.

US: Walmart earnings
Retail bellwether’s performance offers insight into household spending and discount trends.

Friday 21 November

Australia: S&P Global purchasing managers’ index (PMI, November)
Composite index could lift to 52.8 from 52.1. Signals modest economic expansion.

US: S&P Global PMIs (November)
Focus on services and hiring activity. Useful for gauging economic breadth.

Key themes to watch

• RBA & Wages: Meeting minutes and the WPI will help shape expectations on rate cuts in 2026.
• FOMC Minutes: The Fed’s tone will be crucial after its 25bp cut. Will they go again in December?
• Earnings: Nvidia headlines a week of results across tech, retail and agri-industrials.
• US Housing: Data and sentiment indicators show whether rate cuts are filtering through.

Check back next Monday for the latest investor calendar, only on Switzer.