The week ahead starts with Asian traders digesting the below-view trade figures from China released at the weekend.
October exports fell 6.9 percent from a year ago, dropping for a fourth month, while imports slipped 18.8 percent, leaving the country with a record high trade surplus of $61.64 billion, the General Administration of Customs said on Sunday.
Although Beijing has already repeatedly cut interest rates and softened the exchange rate to prop up the economy, the latest trade numbers suggest that a stubborn slowdown persists in the world's second-largest economy.
"It's a big week for China and these numbers might set the tone for the likes of industrial production due on Wednesday, along with October retail sales and fixed assets investment. Again, little to no change is predicted for these three key monthly economic activity indicators. Also due this week is China's consumer and producer prices, scheduled for Tuesday," analysts from National Australia Bank wrote in a report issued on November 6.
China's consumer price index (CPI) for October is expected to rise 1.5 percent from a year earlier, a Reuters poll showed, slightly lower than September's 1.6 percent gain. The producer price index (PPI) is likely to have clocked its 44th straight month of declines, with the PPI falling 5.8 percent, following a 5.9 percent fall in the previous month.
Meanwhile, the slew of monthly indicators due on Wednesday will add to doubts about Beijing reaching its current full-year growth target of about 7 percent. State-controlled media outlet Xinhua reported last week that President Xi Jinping had said that China would aim for growth of no less than 6.5 percent over the next five years.
Fixed-asset investment in non-rural areas of China is estimated to increase 10.2 percent in the January-October period compared with the year-earlier period, the survey by Reuters indicated, slightly below the 10.3 percent gain recorded in the January-September period.
Retail sales in China likely held steady at 10.9 percent in October, while China's industrial production is expected to grow 5.80 percent year-over-year in October, marginally faster than September's 5.70 percent level, Reuters' analysts said.