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Capital.com week ahead: Lockdowns return in Europe: False alarm or Financial Nightmare Before Christmas?

 
 
 
 
 
 
 

Your financial snapshot for this week

A global resurgence in coronavirus cases has been haunting Christmas, casting a shadow over recovery

Just when we thought lockdowns were a thing of the past, Austria shocked the world returning to a full national lockdown right at the beginning of the festive season. The move was followed by protests against covid restrictions taking place across cities in Europe. The lockdown news put many airlines under new pressure, negatively affecting airline stocks. In an effort to curb rising energy prices, the US, the UK, China, Japan, South Korea and India have coordinated their efforts to release oil reserves.

Let’s have a look at how the financial week rolls out from Monday to Friday and what investors can expect.

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Monday, November 29

Australia’s red-hot housing market has become unaffordable for many low-income families. In some areas the situation is even worse than before the coronavirus pandemic. Despite the financial hurdles caused by lockdowns, there have been rapid rises in property and rent prices, fuelled by the record-low mortgage rates. House prices are set to peak next year and then sink 10% in 2023, according to Australia’s Commonwealth Bank. On Monday we’ll get a better picture of the housing trends Down Under with key information coming from Building Approvals and Private House Approvals for October.

China will share its Manufacturing PMI for the month of November. Hit by energy shortages, high commodity prices and weakening property construction, China’s manufacturing industry shrank for a second straight month in October. Are things looking up or getting worse for China?

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Tuesday, November 30

Following Austria’s reaction to rising Covid numbers, Germany is now considering a full lockdown and mandatory vaccines. German business confidence dropped for the fifth consecutive month this week to a 7-month low in fears of covid-related restrictions, but also ongoing supply bottlenecks. If Germany decides in favour of another lockdown right before the Christmas holidays, the economic repercussions could be severe. Today we’ll get important updates from the German and the European economy with figures from the German Unemployment Rate and Change, and French Consumer Spending for the month of October.

American cloud-based software company Salesforce will release its Q3 earnings. The San Francisco company is currently hiring 1,900 people across the US to work in its sales team, offering salaries above $100K.

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Wednesday, December 1

Despite the ongoing supply chain issues, the UK factory order growth hit a record high in the month of November, jumping to the highest level since April 1977 as new data reveals. The growth was driven by sectors such as food, drink, tobacco, chemicals and electronic engineering. Today the UK will share its Manufacturing PMI for the month of November, and the Eurozone will share similar data on its own manufacturing performance. The US will also share its Manufacturing PMI for November. To alleviate the global chip shortage and increase its manufacturing capacity, Samsung is planning to build a $17 billion semiconductor factory in Texas.

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Thursday, December 2

Leading work management platform Asana will share its quarterly earnings today. In its last earning results in August, Asana beat earnings estimates reporting a revenue of $89.50 million compared to analyst expectations of $82.26 million. Asana became an essential tool for workers during the coronavirus pandemic, but as more people return to the office or choose hybrid work schemes, will its earnings remain strong?

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Friday, December 3

 “The Great Resignation” has gathered a lot of hype in the last months. It has been estimated by the recruitment firm Randstad UK that almost one in four UK workers are planning a job change. In the US, labour shortages are an ongoing problem and according to CNN Business, if they continue, the US won’t be able to recover. On Friday the US will share important numbers regarding this huge problem of its economy with Nonfarm Payrolls and Unemployment Rate for the month of November.

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