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 little economic data for release in Europe and largely third tier releases in the U.S. The week is building up for a heavy release schedule from the States on Wednesday ahead of Thursday's Thanksgiving holiday.
EU Consumer Confidence seen lower as Covid infections pickup (1500GMT)
Euro area consumer confidence is likely to dip in November, as the rising number of cases across the Continent. Analysts see a decline in the flash reading to 5.9% from 4.8% in October, although the surge in Covid in recent weeks could lead to the risk of a downside surprise.
The October outcome was already a step lower than the 4.0% seen in September and below the post-pandemic high point of 3.3 recorded in June, reflecting households increasing concerns over prosomal finances. One sub-index underlining declining confidence levels is the inflation expectations, which rose to 40.0 in October -- although the November reading will only be published with the final read on November 29.
US Existing Home sales seen modestly lower (1500GMT)
Existing home sales are expected to have declined in October, falling from the sharp 7% m/m increase seen in September, when an 8-month high 6.29 million units changed hands.
House prices are seen higher, up from September's USD352,800 average in what will be a 116th consecutive month of gains. Analysts are looking for home sales to dip to 6.19 million units.
Speakers are few and far between Monday, although ECB vice president Luis de Guindos is scheduled to speak.
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.