A slew of economic data and central bank decisions will keep investors in Asia busy this week.
The most important piece of data on everyone's radar will be the November non-farms payroll number out of the United States on Friday, which will likely dictate whether the Federal Open Market Committee decides to raise interest rates at its December meeting.
In Asia-Pacific, Australia, India, and South Korea will release their Q3 gross domestic product (GDP) numbers, the broadest measure of economic health. Australia and India's central banks are also set to announce their monetary policy decisions. China will release its Purchasing Managers Index, a measure of health for its slowing manufacturing sector; Japan will announce its industrial production and retail sales numbers as its sluggish economy continues to struggle.
Will this be a turnaround for India?
India has bucked the downward trend among emerging markets this year as a result of the government's aggressive push for greater foreign direct investment (FDI), improving infrastructure to make it easier to do business and bring the country back on track for growth.
On Monday, all eyes will be on India's third quarter gross domestic product (GDP) results, the broadest measure of economic health. Moody's Analytics predicted that India's GDP will "likely expand at 7.3 percent year-on-year in the September quarter", with consumption being a key driver to output. Moody's said other factors affecting demand will include the agriculture sector, due to a lower than average monsoon season, weak credit growth, and falling exports.
The next day, the Reserve Bank of India will meet to decide on India's monetary policy. Moody's Analytics said it expects the repo rate, the interest rate at which the central bank lends money to commercial banks, to be kept unchanged at 6.75 percent. "After 'front-loading' a 50 basis point cut in the previous meeting, the central bank will sit on the sidelines for the remainder of the year."