Economic Calendar: European Inflation and BOE Testimony in Focus, US Housing Data Ahead

Markets focus on today's European inflation data and North American housing figures. The RBA minutes released earlier highlighted the board's commitment to restrictive monetary policy, while keeping the door open for future adjustments. The economic calendar features key CPI readings from the eurozone and Canada, along with U.S. housing market indicators. Today's central bank speakers include ECB's Elderson and multiple BOE members appearing before the Treasury Committee. Markets remain closed in Brazil for Republic Day and India for Guru Nanak Jayanti.

Economic Data Releases (Times in GMT)

10:00 European Union Core CPI (YoY) (Oct)

• Forecast: 2.7%
• Previous: 2.7%

10:00 European Union CPI (MoM) (Oct)

• Forecast: 0.3%
• Previous: -0.1%

10:00 European Union CPI (YoY) (Oct)

• Forecast: 2.0%
• Previous: 2.0%

13:30 United States Building Permits (Oct)

• Forecast: 1.440M
• Previous: 1.425M

13:30 United States Housing Starts (Oct)

• Forecast: 1.340M
• Previous: 1.354M

13:30 Canada Core CPI (YoY) (Oct)

• Previous: 1.5%

13:30 Canada Core CPI (MoM) (Oct)

• Previous: 0.0%

13:30 Canada CPI (MoM) (Oct)

• Forecast: 0.3%
• Previous: -0.4%

16:30 United States Atlanta Fed GDPNow (Q4)

• Forecast: 2.5%
• Previous: 2.5%

21:30 United States API Weekly Crude Oil Stock

• Previous: -0.777M

23:50 Japan Trade Balance (Oct)

• Previous: -294.1B

Central Bank Speakers

• 08:45 ECB's Elderson
• 10:00 BOE Governor Bailey
• 10:00 BOE MPC Member Mann
• 13:00 German Bundesbank Board Member Mauderer speaks
• 16:45 German Bundesbank Board Member Balz speaks