US – Crude Oil Inventories
While markets were expecting a 0.6M barrel buildup in crude oil, the reality was that we saw a 0.9M barrel drawdown for the week ending 25 November.
This was the second week of drawdowns after a three-week period of big buildups.
US – ADP Non-Farm Employment Change
US non-farm employment rose to 216K in November, much higher than the 161K that analysts were expecting and 97K more than the downwardly revised 119K in October.
US – Core PCE Price Index m/m
The Personal Consumption Expenditures (PCE) index rose another 0.1% in October, similar to the preceding month.
US – Personal Spending m/m
US personal spending came in lower than expected, while markets expected a 0.5% rise, the actual figure was at 0.3% in October, compared to an upwardly revised 0.7% in September.
US – Personal Income m/m
Despite seeing a lower personal spending figure, the US personal income index in October rose higher at 0.6%, compared to a revised 0.4% in September.
US – Chicago PMI
The Chicago PMI bounced back 7.0 points to 57.6 in November, after it dropped to 50.6 in October and is now at its highest since January 2015.
US – Pending Home Sales m/m
Pending home sales only grew by a disappointing 0.1% in October, after it grew by a downwardly revised 1.4% in September.
Canada – GDP m/m
The Canadian economy grew 0.3% in September, compared to 0.2% in the preceding month.
Looking at it from a quarterly perspective the Canadian GDP grew at an annualized 3.5% in Q3.
Canada – RMPI m/m
Canada’s raw materials price index broke a three-month period of decreasing prices and increased sharply by 3.3% in October.
UK – GfK Consumer Confidence
GfK’s consumer confidence index has decreased by 5 points this month to -8 for November. All five categories in the index saw decreases in November.
EU – German Retail Sales m/m
German retail sales in October grew to 2.4%, compared to September which was downwardly revised to -1.5%.
EU – German Unemployment Change
Unemployment in Germany decreased with another 5K in October, after September saw a 13K decease.
EU – CPI Flash Estimate y/y
Euro area annual inflation is expected to be 0.6% in November, up from 0.5% in October.
EU – Core CPI Flash Estimate y/y
Euro area annual inflation, excluding food, energy, alcohol and tobacco, is expected to be 0.8% in November, the same as in October.
Australia – Building Approvals m/m
Australian building approvals declined for a third consecutive month at 12.6% in October, compared to a downwardly revised -9.3% in September.
Upcoming Data Releases