ECB to take center stage

•      ECB to take center stage

•      The Bank has signaled that they will probably take time to assess the impact of stimulus measures announced in the recent months; the rise in the estimate CPI in October could be a sign that part of the measures start to reflect in the economy

•      Key points to watch: Any reference over the speculation that the ECB is considering to buy corporate bonds and the report that National central bankers are set to challenge ECB President on his leadership style

•      Australia’s unemployment rate remained stable at 6.2% in October, its highest level in almost 12-years.

•      The data reflect a soft labor market and confirm the Reserve Bank of Australia concerns

•      The US ADP report once again indicated job growth over 200k but the US ISM non-manufacturing index disappointed and declined in October

•      However, I believe that the moderate decline was not enough to reverse the positive sentiment towards USD which was higher against almost all of its major peers during early European morning

•      Today :

•      UK: The Bank of England meets to decide on its policy rate, industrial production for September

•      Germany: Factory orders for September

•      US: initial jobless claims for the week ended Nov. 1