Summary:
- Canadian housing data for October/November seems to be worth looking at this afternoon
- Eurozone Sentix index depicting investor confidence
- RBA’s Lowe to take the floor this evening
7:00 am GMT - German foreign trade for October: The consensus suggests exports declined 0.3% YoY while imports ticked down 0.1% YoY. At the same time, a trade surplus is projected to have shrunk to 19.3 billion EUR from 21.2 billion EUR.
9:30 am GMT - Eurozone Sentix Investor Confidence index for December: The index showed a sharp rebound in November boosted by rising optimism regarding a possible trade deal between the US and China. However, things have even more complicated since then, therefore the index could be subject to a corrective pullback once again as any trade agreement seems to be a long way off. The consensus points to a decline to -5.3 from -4.5.
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Open account Try demo Download mobile app Download mobile app1:15/1:30 pm GMT - housing starts/building permits from Canada for November/October: These are going to be a second tier releases, though they could matter anyway for the Loonie. Let us remind that the Bank of Canada maintained its main rate last week and suggested that future decisions would be guided by a trade-off between trade conflicts' risks and resilience of the Canadian economy. Thus, the underlying trends from the housing market are worth looking at. Expectations point to 215k new houses building started in November while building permits increased 2.8% MoM in October.
10:05 pm GMT - a speech of RBA Governor Lowe in Sydney
Moreover, we should know Chinese CPI data for November during Asian Tuesday’s trading.
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