In the final two days of the trading week, the market is trading quietly as US trading floors are closed for Thanksgiving Day. The situation is sure to change from Monday. What events are going to determine market sentiment? Let’s watch a video calendar on InstaForex TV channel! The first major report of the new trading week is government data on China’s industry. Market participants will get to know a measure of business activity in the manufacturing sector. The PMI for November is expected to climb to 49.5. Thus, the index has got stuck at the level below 50 points for the 7th straight month. This signals a protracted downtrend in China’s large factories. Besides, on Monday the Caixin analytical group is due to publish a similar PMI for small and medium-sized factories. The business activity here has been above the level of 50 which means expansion, though analysts predict a decline in November. Discouraged by tepid reports from China, traders are likely to express risk aversion amid fresh news on escalating tensions between the US and China. As a result, the dollar/yen pair is set to trade lower. Trade jitters will knock down the trade-exposed Australian dollar. The aussie is going to face a challenge from the Reserve Bank of Australia. On Tuesday, Australia’s regulator will unveil its policy decisions. The official cash rate is likely to remain the same, but traders are mostly interested in the policy statement. In the wrap-up of the last meeting, the board assured the market that the ongoing monetary policy was appropriate to revive the sluggish economic growth. However, lately Governor Philip Lowe dropped a hint in a speech that the central bank was ready to cut interest rates twice next year. Now traders are alert to more hints from the central bank that will clear up a further direction of the AUD/USD pair. On Wednesday, the Bank of Canada is holding a policy meeting. The Canadian regulator is more predictable about further monetary policy that is stated in the forward guidance. The central bank insists that the overnight target rate at 1.75% suits well the domestic economic conditions. So, the Bank of Canada is widely expected to put the ongoing monetary policy on hold that will be bullish for the Canadian dollar. The loonie could find extra support from downbeat US statistics which could push the US dollar down. On Wednesday, experts foresee a minor drop of a non-manufacturing PMI from the Institute for Supply Management that will prove waning momentum in the US service sector in November. In addition to the above-said events, the economic calendar reminds traders of other important reports which are due in the first half of the next week. On Monday, Markit Economics will provide manufacturing PMIs for Germany and the UK. The US manufacturing PMI from the ISM will be posted later. Tuesday is going to be a quiet day. The economic calendar contains mostly data of secondary importance, except for a producer price index for the eurozone and inflation data for Switzerland. On Wednesday, the busy economic calendar will trigger a market buzz. Traders will take notice of Australia’s GDP, China’s services PMI, PMIs for the eurozone and the UK, and ADP employment report for the US.