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.
Today’s data calendar looks relatively light, following a bumper Friday which left markets stunned by significantly lower payroll gains in the US.
German Factory & Industrial Orders (0700 GMT)
German factory orders are forecast to contract -0.2% m/m for October following some volatile past months, with September’s reading showing recovery signs at 1.3% m/m following August’s plunge to -8.8% m/m where metal production and automotive orders dropped against a backdrop of severe supply bottlenecks. Yearly factory orders also likely to show a slowdown, expected to come in at 5.5% for October 2021 compared to 9.7% in October last year.
Eurozone Construction PMI (0830 GMT)
Eurozone construction is forecasted to continue to marginally increase in November, up from October’s pandemic-era high of 51.2 due to rising demand and workloads, edging back up to pre-covid levels.
Italian Retail Sales (0900 GMT)
Retail in Italy is projected to remain stable around October’s 0.8% m/m and 5.3 y/y mark, with COVID-19 cases only beginning to rise in the last week of the month. Italian retail readings remain above Friday’s pan-Eurozone growth rate of 0.2% m/m.
UK Construction PMI (0930 GMT)
UK construction was 54.6 in October, in line with pre-pandemic levels, following a bumper reading of June’s 24-year peak. Persistent labour and input shortages are likely to continue.
Today BOE Deputy Governor and MPC member Ben Broadbent will be speaking at Leeds University, perhaps offering a further clue on the central bank's core thinking a week or so from the December meeting.
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.