Highlights
US markets are closed on Thursday for the Thanksgiving Day holiday, moving up the release of weekly jobless claims to Wednesday. US existing home sales on Tuesday are likely to indicate continued softening in the housing market amid high mortgage costs and low inventories. After easing inflation rates in the US, Britain and the Eurozone, Canada's CPI data due Tuesday is also expected to show the annual rate sliding back to a four-month low of 3.2 percent, although that would be still above the bank's 2 percent inflation target.
Monday's data calendar is thin.
In Germany, producer prices for October are forecast to edge down 0.1 percent on the month after a 0.2 percent dip in September while the year-over-year decrease is seen decelerating to 11.0 percent from 14.7 percent.
The index of US leading economic indicators in October is expected to extend its long streak of decline, down a consensus 0.6 percent, after falling 0.7 percent in September. This index has long been signaling a coming recession.
The Reserve Bank of Australia will release the minutes of its Nov. 7 meeting at 11:30 a.m. AEDT Tuesday (7:30 p.m. EST Monday/0030 GMT Tuesday). At the meeting, the RBA raised its main policy rate, the cash rate, by 25 basis points to 4.35 percent from 4.10 percent, as expected, after having left rates on hold at its previous four meetings. Inflation in Australia has passed its peak but is still too high and is proving more persistent than expected a few months ago, RBA Governor Michele Bullock said in a policy statement.
Monday's data calendar is thin.
In Germany, producer prices for October are forecast to edge down 0.1 percent on the month after a 0.2 percent dip in September while the year-over-year decrease is seen decelerating to 11.0 percent from 14.7 percent.
The index of US leading economic indicators in October is expected to extend its long streak of decline, down a consensus 0.6 percent, after falling 0.7 percent in September. This index has long been signaling a coming recession.
The Reserve Bank of Australia will release the minutes of its Nov. 7 meeting at 11:30 a.m. AEDT Tuesday (7:30 p.m. EST Monday/0030 GMT Tuesday). At the meeting, the RBA raised its main policy rate, the cash rate, by 25 basis points to 4.35 percent from 4.10 percent, as expected, after having left rates on hold at its previous four meetings. Inflation in Australia has passed its peak but is still too high and is proving more persistent than expected a few months ago, RBA Governor Michele Bullock said in a policy statement.
Definition
Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.
Description
Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.
