Yesterday the head of the German Central Bank Schaeuble expressed the hope that on Monday 26 November will be a positive decision on the allocation of Athens next portion of financial aid. The German parliament on November 30 will also vote on Greece and as suggested by Schäuble - it will be positive for Athens. Overall Schaeuble supported the extension of EFSF measures on Greece.
As the speech by German Chancellor Angela Merkel on the situation around Greece were positive and led to additional optimism among investors.
Against this background, the single currency turned and began to rise against the U.S. dollar, and the dollar sold off as a whole, although not as active.
Today, the U.S. markets closed the day off and on this background, we do not expect any significant activity. Most likely, this pattern will continue on Friday in anticipation of the next meeting of the Eurogroup on Greece on Monday 26 November, and the new Obama's meeting with the Republican part of the U.S. Congress.
Today we should pay attention to the statistics from Europe.
Events today:
Moscow time
12.30 Germany Preliminary data on the index of business activity in the manufacturing sector in November n / a; 45,9; 46,0
12.30 Germany Preliminary data on the index of business activity in the service sector in November n / a; 48,5; 48,4
13.00 Eurozone Preliminary data on the index of business activity in the manufacturing sector in November n / a; 45,6; 45,4
13.00 Eurozone Preliminary data on the index of business activity in the service sector in November n / a; 46,1; 46,0
during the day Eurozone EU Economic Summit
15.00 Expected UK manufacturing orders (by CBI) November n / a; -19; -23
17.30 Canada Basic index of retail sales in September n / a; 0,5% m / m, 0.4% y / y
17.30 the Canadian retail sales in September n / a; 0,6% m / m, 0.3% y / y
19.00 Eurozone consumer confidence in October n / a; -26; -26
Today, the U.S. output. The celebration of Thanksgiving Day.
