Market Movers ahead
- PMI figures on both sides of the Atlantic are set to reveal how durable the positive signals in the October prints have been about a potential bottom in the global manufacturing cycle.
- FOMC and ECB minutes will be scrutinised by markets for the different stances of policymakers on the boards.
- There is a risk of a government shutdown, if the US Congress cannot reach an agreement on government funding ahead of the Thursday deadline.
- Japanese inflation figures for October are set to reveal the impact of the October VAT hike.
- In Scandinavia, the Norwegian oil investment survey and Riksbank speakers are in focus. Danish employment figures are set to reveal whether the labour market has slowed further in September.
- More rays of light in euro area macro data as Germany (yet again) avoids falling into technical recession.
- Fed wait-and-see attitude prevails and we now expect only one more cut from the Fed in three to six months.
- Risk appetite experiences a setback after more sombre news on the trade front.
- Periphery yields come under pressure despite the prospect of a coalition government in Spain.
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