Economists expect U.S. headline CPI to fall 0.8% following a flat reading in September. Core monthly CPI is expected to show a 0.1% increase, in line with the previous rise of 0.1%. The annualized core inflation rate is expected to show a 2.4% jump following September's 2.5% increase.

Markets will also receive more U.S. housing data, with the release of October housing starts and building permits. The consensus is for housing starts to decline to 780,000 following 817,000 starts in September. Building permits are expected to come in at 774,000, down from September's upwardly revised 805,000 permits.

The U.S. Department of Energy will release oil inventories for the week ending November 14. Analysts are expecting a 1000k build in crude oil reserves following the previous 22k increase. Gasoline inventories are expected to expand 1000k following the previous 1982k rise. Distillate inventories are expected to rise 700k barrels after increasing 516k in the previous week. Refinery utilization is expected to come in flat after falling 0.69% in the previous week.

In the afternoon, markets will be interested to read the minutes from the Fed's monetary policy meeting on Oct. 28 and 29. At the meeting, the Fed cut interest rates by 50 basis points, bringing rates down to 1.00%.

Interim Assistant Secretary for Financial Stability Neel Kashkari will be making remarks on the TARP program at a luncheon hosted by the Women in Housing and Finance Exchequer Club of Washington.

Meanwhile, Richmond Federal Reserve President Jeffrey Lacker will speak at a conference on the subprime crisis. Earlier in the morning, Federal Reserve Vice-President Donald Kohn will speak on asset prices at the Cato Conference.

Bank of Canada Governor Mark Carney will be London, at an event held by the UK Chamber of Commerce, and will hold a press conference at 9:25 a.m. EST following the event.

All times in EST:

7:00 US MBA Mortgage Applications W/E November 14 Prior: +11.9%

8:20 CA BOC Governor Mark Carney in London at UK Chamber of Commerce

8:30 CA International Securities Transactions September Exp: -C$1.350 Prior: -C$0.730

8:30 CA Leading Indicators (M/M) October Exp: -0.3% Prior: -0.2%

8:30 CA Travel Between Canada and Other Countries

8:30 US CPI (M/M) October Exp: -0.8% Prior: 0.0%

8:30 US CPI Ex Food & Energy (M/M) October Exp: +0.1% Prior: +0.1%

8:30 US CPI (Y/Y) October Exp: +4.0% Prior: +4.9%

8:30 US CPI Ex Food & Energy (Y/Y) October Exp: +2.4% Prior: +2.5%

8:30 US CPI Core Index SA October Prior: +216.956

8:30 US Consumer Price Index NSA October Exp: +216.700 Prior: +218.783

8:30 US Building Permits October Exp: 774K Prior: 786K Revised: 805K

8:30 US Housing Starts October Exp: 780K Prior: 817K

8:30 US Real Earnings October

9:00 US Fed Vice-President Donald Kohn Speaks on Asset Prices at Cato Conference

9:25 CA BOC Governor Mark Carney To Hold Press Conference in London

10:30 CA Bank of Canada will sell $13.3 billion in Cash Management Auction

10:35 US DOE U.S. Crude Oil Inventories W/E November 14 Exp: +1000K Prior: +22K

10:35 US DOE U.S. Gasoline Inventories W/E November 14 Exp: +1000K Prior: +1982K

10:35 US DOE U.S. Distillate Inventory W/E November 14 Exp: +700K Prior: +516K

10:35 US DOE U.S. Refinery Utilization W/E November 14 Exp: 0.00% Prior: -0.69%

10:35 US API U.S. Crude Oil Inventories Prior: +899K

10:35 US API U.S. Gasoline Inventories W/E November 14 Prior: +3606K

10:35 US API U.S. Distillate Inventory W/E November 14 Prior: +1493K

12:00 CA Bank of Canada Will Repurchase $7.5B in Bond Repurchase Program

12:20 CA Bank of Canada Will Repurchase $500M in Bonds Repurchase Program

12:30 US Treasury's Kashkari will Speak on Bank Rescue in Washington

13:30 US Richmond Fed President Jeffrey Lacker Speaks at Conference on Subprime Crisis

14:00 US Fed Releases Minutes and Forecasts from Oct. 28-29 monetary policy meeting

By Steve Stecyk, This email address is being protected from spam bots, you need Javascript enabled to view it , edited by Megan Ainscow, This email address is being protected from spam bots, you need Javascript enabled to view it

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