This week is fairly quiet in terms of economic data – especially out ot the us where the thanksgiving holiday on Thursday will cause many traders to be off.
Focus will likely be on the turnover in retail as this week is traditionally one of the busiest, with black Friday the key event.
After equities traded minutely higher on Friday, ne corona outbreaks in China weigh on risk this morning. The USD gains to 107.50, EURUSD falls to 1.0260, GBPUSD 1.1830 and USDJPY rises to 140.70.
Oil, Gold and Silver trade lower at 79.60, 1746 and 20.80, Indexes are trading lower by app 0.3% and Bitcoin is meandering the 16000.
Several districts in China have reported new corona outbreaks and new lockdowns are being imposed. While the moves are still fairly small this is a development the could turn significant.
With little key economic news on the agenda and likely thin trading, anything that boosts or diminishes confidence can push markets either way quickly. Next week the year end phase will start in earnest with the Non-farm payroll on December 2nd providing key input for the last rate decision by the fed on December 14th.
Tuesday: EU Consumer Confidence
Wednesday European and US PMIs
Thursday: DE IFO, Swedish and Turkish rate decisions
Friday: DE GDP