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ECB President Lagarde to deliver a speech today
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PMI indices from euro area, United Kingdom and the United States
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Canadian retail sales data expected to show an increase
8:30 am GMT - ECB President Lagarde speech. Christine Lagarde will deliver her first major speech as the President of the European Central Bank. Lagarde promised to make a review of the Bank’s monetary policy and today’s speech may reveal some details. Keep in mind that the speech will begin at the time of the German PMI release therefore one should expect much higher volatility on the euro.
8:30 am GMT - Germany, PMI indices for November. The German manufacturing PMI ticked higher in October. Nevertheless, index remains deep in contraction territory. Another improvement is expected in November as the index is forecasted to move to 42.9 pts. Services gauge is expected to move higher as well.
9:30 am GMT - UK, PMI indices for November. Markit decided to start publishing preliminary PMI figures for the United Kingdom. Today will be the first such reading. Manufacturing gauge is expected to slide to 49 pts while services should remain unchanged at 50 pts.
1:30 pm GMT - Canada, retail sales for September. The Canadian dollar strengthened against the US peer yesterday as speech from Governor Poloz sounded less dovish than expected. Today’s retail sales data is expected to show a 0.1% MoM increase.
2:45 pm GMT - US, PMI indices for November. While investors focus more on ISMs when it comes to the United States, attention also should be paid to PMIs. Indices for both sectors are expected to move higher with services jumping to 51.1 pts and manufacturing increasing to 51.5 pts.
3:00 pm GMT - US, Michigan Consumer Sentiment for November (final). Expected: 95.7 pts
Central bankers’ speeches
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8:30 am GMT - ECB President Lagarde
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9:05 am GMT - Riksbank’s Jansson
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9:20 am GMT - ECB’s de Cos
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1:00 pm GMT - Bundesbank President Weidmann