Reply To: Traders Market Weekly: Thanksgiving, a Time for Reflection


Eurozone’s Q3 GDP 0.2% qtr/qtr, as expected (last 0.8%); 2.1% yr/yr, as expected (last 4.3%). Q3 Employment Change 0.2% qtr/qtr (expected 0.3%; last 0.4%); 1.7% yr/yr (expected 1.8%; last 2.7%). September trade deficit EUR34.40 bln (expected deficit of EUR44.50 bln; last deficit of EUR52.40 bln). November ZEW Economic Sentiment -38.7 (expected -52.0; last -59.7)
Germany’s October WPI -0.6% m/m (expected 1.2%; last 1.6%); 17.4% yr/yr (last 19.9%). November ZEW Economic Sentiment -36.7 (expected -50.0; last -59.2) and ZEW Current Conditions -64.5 (expected -68.4; last -72.2)
U.K.’s September three-month employment change -52,000 (expected -25,000; last -109,000) and September Unemployment Rate 3.6% (expected 3.5%; last 3.5%). September average earnings + bonus 6.0% yr/yr (expected 5.9%; last 6.1%). October Claimant Count Change 3,300 (expected 17,300; last 3,900)
France’s October CPI 1.0% m/m, as expected (last -0.6%); 6.2% yr/yr (expected 7.1%; last 5.6%). Q3 Unemployment Rate 7.3%, as expected (last 7.4%)
Spain’s October CPI 0.3% m/m (expected 0.4%; last -0.7%); 7.3% yr/yr, as expected (last 8.9%)
Sentiment surveys for Germany and the eurozone improved notably in November but remained deep in negative territory.
Bank of France Governor Villeroy de Galhau said that the normalization range is approaching and that ECB rate hikes could get less aggressive after the December meeting.
The U.K. is raising its minimum wage by nearly 10.0% and it plans to impose a 40.0% levy on revenue from electricity sold above a certain price.
Vodafone reduced its outlook for the year and announced that it will cut costs.