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ECB Minutes likely to be a non-event
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SARB expected to leave rates unchanged
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Semi-important US data to be released in the afternoon
12:30 pm GMT - ECB Minutes. The latest ECB meeting was a non-event as it was the last meeting governed by Mario Draghi. However, ECB Chief Economist Lane said yesterday that the Bank is considering a major review of monetary policy. Nevertheless, Minutes should not have a major impact on the market.
1:00 pm GMT - SARB rate decision. The South African Reserve Bank cut interest rates in July. Central bank is expected to leave rates unchanged today. However, investors should look for comments on recently announced Mid-Term Budget Policy. The decision announcement will begin at 1:00 pm GMT.
1:30 pm GMT - US, jobless claims and Philly Fed for November. The Philly Fed manufacturing index jumped significantly in June but has been moving lower since. However, after 4 straight months of declines the index is expected to make a move higher to 7 pts. Simultaneously, jobless claims will be released and a reading of 219k is expected.
3:00 pm GMT - US existing home sales for October. The US housing market data released earlier this week came in mixed with permits coming in higher than expected and starts disappointing. Existing home sales scheduled for release today are expected to come in at 5.47 million (+1.7% MoM).
Central bankers’ speeches
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8:10 am GMT - ECB’s Mersch
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9:40 am GMT - ECB’s Guindos
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1:30 pm GMT - Fed’s Mester
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1:40 pm GMT - BoC Governor Poloz
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3:10 pm GMT - Fed’s Kashkari
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7:00 pm GMT - ECB’s Guindos