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The week ahead 19.11.2018

19/11/2018

Today we see some figures out of the US, Retail Sales & the Housing Market Index, with some assorted figures out on Tuesday from the US & Eurozone. Things could start to liven up on Wednesday as the EU Commission is expected to respond to Italy’s contentious (to the EU at least) budget proposals. The Italians have set themselves on something of a collision course with the EU, and, rather like a soldier refusing to obey an order, both parties may now be pushed into an outcome that neither wants to see. If the EU imposes significant fines on Italy, then the stage is simply set for more confrontation. On the other hand, if they don’t, then they will simply embolden others to wonder how much they can get away with. There is also a bountiful harvet of US data coming Wednesday, the most interesting ones being Jobless claims and Durable goods orders at 08:30 Eastern Time, with Leading Indicators, Consumer sentiment & existing home sales following along at 10am ET. Thursday brings the ECB minutes and the US Thanksgiving holiday which will also drain the market of interest for the rest of the week barring something unexpected emerging from the shadows.

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