Economic calendar: FOMC minutes and US Conference Board consumer confidence index in the market spotlight 🗽

• Weaker sentiment on indices; Wall Street loses slightly, Europe a little more after mostly weak Asian session
• Light macro calendar from Europe; speeches by ECB members
• Market awaits Conference Board index from the US, home sales and FOMC minutes

Today's session is dominated by the dollar, which is recording another strong session, after Trump announced he would raise tariffs on Chinese goods by another 10% and announced 25% tariffs on goods from Canada and Mexico. Investors will pay particular attention to the U.S. currency in view of upcoming consumer sentiment data and minutes from the latest meeting of Federal Reserve members. The market may be particularly sensitive to comments lowering the likelihood of a rate cut in December. Statements by Kashkari and Goolsbee suggest that there may still be some discord within the Fed over the level of the neutral interest rate. The European macro todayy will be dominated by comments from members of the European Central Bank.

Economic calendar

8:30 GMT, Hong Kong, imports/exports

• Imports: 4.6% YoY forecast vs. 1.4% previously
• Exports 6.7% YoY forecast vs 4.7% previously: 

2 PM GMT U.S., Case/Schiller: 4.7% forecast vs. 5.2% previously

3 PM GMT US, home sales (October): 725k vs 738k (0.3% m/m vs 0.3% previous)

• New home sales: -1.8% YoY vs. 4.1% in September

3 PM GMT US, consumer sentiment by Conference Board: 111.35 forecast vs. 108.7 previously

3 PM GMT, Richmond Fed. -11 forecast vs - 14 previously

7 PM GMT US, minutes of the latest FOMC meeting

Central bankers' speeches:

• 14:00 - ECB Centento
• 16:00 - ECB Villeroy
• 11:00 - ECB Rehn
• 14:05 - BoC Mendes