- UK November CBI trends total orders -37 vs -33 expected
- Eurozone September construction output -0.5% vs -0.1% m/m prior
- ECB's Makhlouf: I'm comfortable with where monetary policy is
- European indices see green at the open as risk sentiment improves
- FX option expiries for 20 November 10am New York cut
- Germany October PPI 0.1% vs 0.0% m/m expected
- BoJ's Koeda: Will get more information on direction of next year's wage negotiations
- What are the main events for today?
It's been a very boring session with very limited newsflow. We just got a couple of low tier data releases that didn't move the markets at all, and ECB's Makhlouf reaffirming once again the neutral central bank stance.
The markets have been fairly rangebound. The US equities erased some of the gains triggered by the strong Nvidia Q3 earnings. The US dollar is mixed but on net, positive on the day. Treasury yields are the highs of the two-week ranges. Gold is a bit in the negative, while oil recovered almost half of yesterday's losses.
In the American session, all eyes will be on the September NFP report and the latest US Jobless Claims figures. The NFP is expected at 50K vs 22K prior with the Unemployment Rate remaining unchanged at 4.3%. The Average Hourly Earnings Y/Y is expected at 3.7% vs 3.7% prior, while the M/M figure is seen at 0.3% vs 0.3% prior.
The Initial Claims are expected at 230K, while the Continuing Claims are seen at 1951K.
