Markets centered on the release of the FOMC minutes, GDP data, personal consumption expenditure (PCE), and durable goods orders in the U.S. The Reserve Bank of New Zealand (RBNZ) also held its policy meeting.
Germany:
November's IFO Business Climate Index dropped to 85.7 (previous: 86.5; forecast: 86.1), highlighting ongoing economic struggles.
Japan:
The Bank of Japan's Core Consumer Price Index eased to 1.5% year-on-year from the prior 1.7%.
United States:
November's Conference Board Consumer Confidence Index came in at 111.7, just under the forecast of 111.8 but higher than October’s 109.6.
October new home sales dropped sharply to 610,000, missing the forecast of 725,000 and down from September’s 738,000.
The FOMC minutes, released at 7:00 p.m. GMT, highlighted the Federal Reserve's cautious approach to monetary policy amid persistent economic uncertainty and market volatility.
New Zealand:
The RBNZ cut its key interest rate from 4.75% to 4.25%, emphasizing the need for stimulus. The Monetary Policy Report pointed to challenges in achieving sustainable growth.
United States:
Key Data:
● October durable goods orders increased by 0.2%, outperforming the expected decline of -0.8%.
● The Core PCE price index for October remained steady at 0.3%.
● Q3 GDP grew by 2.8% year-on-year, meeting expectations but down from the previous 3.0%.
● Initial jobless claims came in at 213,000, slightly better than the anticipated 215,000.
● Crude oil inventories decreased by 1.844 million barrels, contrasting with the prior week's rise of 0.545 million barrels.
Germany:
November Consumer Price Index CPI fell -0.2% month-over-month (previous: +0.4%) and rose 2.2% year-over-year (forecast: 2.0%).
United States:
Markets closed for Thanksgiving.
Eurozone:
Inflation data for November is set to be released at 10:00 GMT. Forecasts indicate:
● Core Consumer Price Index at 2.8%, up from 2.7% previously.
● Headline Consumer Price Index increasing from 2.0% to 2.3% year-over-year.
Canada:
The September GDP report is scheduled for release at 1:30 p.m. GMT, with projected growth of 0.3% month-over-month (up from 0.0% previously).
United States:
Thanksgiving celebrations continue, with shortened trading hours.