Economic calendar: Survey data from Germany and the United States

• European markets expected to open higher

• CB consumer confidence index seen dropping below 100 in November

• Speeches from ECB President and Chief Economist

Futures markets are trading higher ahead of the European cash session open. Improvement in moods came after Trump recommended General Services Administration to begin transition to Biden presidency. Economic calendar today looks light but investors will be offered some speeches from ECB officials. A thing of note is that there is an expectation that Biden team will name candidates for key posts today and it may also have an impact on the markets.

Revised Q3 GDP data from Germany was released at 7:00 am GMT. Headline reading of 8.5% QoQ was better than 8.2% signalled in the previous release. Private consumption came in above forecasts while government spending and capital investments missed estimates.

9:00 am GMT - Germany, IFO index for November. Expected: 90.8. Previous: 92.7

3:00 pm GMT - US, CB consumer confidence for November. Expected: 98. Previous: 100.9

9:40 pm GMT - API report on oil inventories.

Central bankers' speeches

• 12:00 pm GMT - BoJ Governor Kuroda

• 1:15 pm GMT - ECB Schnabel

• 2:00 pm GMT - ECB President Lagarde

• 4:00 pm GMT - Fed Bullard

• 5:00 pm GMT - Fed Williams

• 5:45 pm GMT - ECB Chief Economist Lane

• 5:45 pm GMT - Fed Clarida

Noteworthy US earnings releases

• Best Buy (BBY.US) - before market open

• Dell Technologies (DELL.US) - after market close

• Dollar Tree (DLTR.US) - before market open

• Hormel Foods (HRL.US) - before market open

• HP (HPQ.US) - after market close