Fundamental Daily Outlook

Daily calendar (major market-affecting indicators in bold)
Time	Region	Indicator	Period	Survey	Actual	Prior	Comments
09:45	France	Consumer confidence index	Nov.	86		85	Usually not major market mover
10:00	Sweden	Economic tendency survey	Nov.	104.0		104.3
11:00	Norway	AKU unemployment rate	Sep.	3.7%		3.7%	The unexpected rise in unemployment rate and the drop in retail sales weakened NOK at the release
11:30	UK	GDP	Q3 2nd estimate	+0.7% qoq		+0.7% qoq	Following the disappointing November’s inflation report and the mixed signs from the BoE officials hearing at the parliament a strong reading is needed for GBP to strengthen.
15:30	US	Durable goods orders	Oct.	-0.6% mom		-1.1% mom	The market could pay more attention to durable goods excluding transportation, which are expected to rebound. This could be USD-supportive
15:30	US	Durable goods excluding transportation	Oct.	+0.5% mom		-0.1% mom
15:30	US	Personal income	Oct.	+0.4% mom		+0.2% mom	Personal income, fueled probably by income gains amid a stronger US labor market could strengthen USD
15:30	US	Personal spending	Oct.	+0.3% mom		-0.2% mom
15:30	US	PCE Deflator	Oct.	+1.4% yoy		+1.4% yoy	In line with the unchanged 2nd estimate of Q3 core PCE
15:30	US	PCE core rate	Oct.	+1.5% yoy		+1.5% yoy
15:30	US	Initial jobless claims	Nov.22	288k		291k	The 4wk moving average is expected to remain unchanged at 288k
16:45	US	Chicago Purchasing managers index	Nov.	63.0		66.2
16:55	US	U of M consumer sentiment	Nov. (F)	90		89.4 (P)
15:00	US	Pending home sales	Oct.	+0.5% mom		+0.3% mom	The rebound is in line with the increase in existing home sales in October
17:00	US	New home sales	Oct.	470k		467k
23:45	New Zealand	Trade balance	Oct.	NZD -642mn		NZD -1350mn	The moderate narrowing in the deficit will probably not be enough to reverse the negative sentiment towards kiwi