Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Monday sees a quiet start to the week in terms of data releases. The main publications to look out for include the CBI Distributive Trades survey at 1100GMT and EZ flash consumer confidence at 1500GMT.
UK CBI sales expected to improve
Monthly sales deteriorated in November to -25, down from -23 seen in October amid the second lockdown. Restrictions eased in most parts of the country and markets look for an uptick of CBI expected sales to 0 in December. Order volumes placed upon suppliers improved in November to the highest level since December 2019. Internet sales surged to 55 in November, growing at the fastest pace since October 2018 and suggesting that consumers shifted spending away from in-store retailing. Internet sales remained elevated throughout the crisis, leading to a difficult situation for high street retailers. The volume of stocks increased only marginally in November which is in contrast to previous upticks ahead of Brexit deadlines.
EZ flash consumer confidence seen unchanged
Consumer sentiment in the Eurozone deteriorated in November to -17.6, showing the lowest level since May amid renewed lockdowns in several European countries. In December, markets are looking for a small uptick in consumer confidence to -17.4. Infection rates continue to rise in several countries despite the tight measures in November. As a result, several countries keep the persisting measures, while others even tightened them which will weigh on sentiment in December. However, the positive news regarding a vaccine should provide a boost in the coming months.
The events calendar remains quiet with no speeches scheduled.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.