Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
00:05 United Kingdom Gfk Consumer Confidence November 2 2 1
07:00 United Kingdom Nationwide house price index, y/y November 3.9% 4.2% 3.7%
07:00 United Kingdom Nationwide house price index November 0.5% Revised From 0.6% 0.5% 0.1%
09:30 United Kingdom Business Investment, q/q Quarter III 1.6% 1.5% 2.2%
09:30 United Kingdom Business Investment, y/y Quarter III 3.1% 6.6%
09:30 United Kingdom GDP, y/y (Revised) Quarter III 2.4% 2.3% 2.3%
09:30 United Kingdom GDP, q/q (Revised) Quarter III 0.7% 0.5% 0.5%
10:00 Eurozone Consumer Confidence (Finally) November -7.5 Revised From -7.6 -7.7 -5.9
10:00 Eurozone Business climate indicator November 0.44 0.45 0.36
10:00 Eurozone Industrial confidence November -2 -2.1 -3.2
10:00 Eurozone Economic sentiment index November 106.1 Revised From 105.9 105.9 106.1
12:00 Germany Gfk Consumer Confidence Survey December 9.4 9.2 9.3
The U.S. dollar traded mixed to higher against the most major currencies on speculation that the Fed will start raising its interest rate next month.
The euro traded lower against the U.S. dollar on speculation that the European Central Bank (ECB) will add further stimulus measures. The ECB President Mario Draghi said at a press conference after the ECB meeting in October that the central bank will review its stimulus measures at its next meeting in December.
Meanwhile, the economic data from the Eurozone was mixed. The European Commission released its economic sentiment index for the Eurozone on Friday. The index remained unchanged at 106.1 in November. October's figure was revised up from 105.9. Analysts had expected the index to decline to 105.9.
The increase was driven by stronger confidence among consumers.
The industrial confidence index dropped to -3.2 in November from -2.0 in October, missing expectations for a decline to -2.1.
The final consumer confidence index was up to -5.9 in November from -7.5 in October, beating expectations for a fall to -7.7. October's figure was revised up from -7.6.
The business climate index decreased to 0.36 in November from 0.44 in October. Analysts had expected the index to rise to 0.45.
German Gfk consumer confidence index fell to 9.3 in December from 9.4 in November, beating expectations for a drop to 9.2.
The British pound traded lower against the U.S. dollar after the release of the revised U.K. GDP data. The Office for National Statistics (ONS) released its revised gross domestic product (GDP) data on Friday. The revised U.K. GDP expanded at 0.5% in the third quarter, in line with the preliminary reading, after a 0.7% rise in the second quarter.
The growth was driven by a rise in household spending. Household spending rose 0.8% in the third quarter, after a 0.7% increase in the second quarter.
Exports climbed 0.9% in the third quarter, while imports were up 5.5%.
Business investment jumped 2.2% in the third quarter.
The service sector climbed 0.7% in the third quarter.
On a yearly basis, the revised U.K. GDP rose 2.3% in the third quarter, in line with the preliminary reading, after a 2.4% gain in the second quarter.
The Canadian dollar traded lower against the U.S. dollar ahead of the release of Canadian Industrial Product Price Index, which is expected to decline 0.1% in October, after a 0.3% fall in September.
EUR/USD: the currency pair declined to $1.0573
GBP/USD: the currency pair fell to $1.5030
USD/JPY: the currency pair increased to Y122.64
The most important news that are expected (GMT0):
13:30 Canada Industrial Product Price Index, m/m October -0.3% -0.1%
13:30 Canada Industrial Product Price Index, y/y October -0.4%