On the Macro
For the Dollar, it’s a big week ahead, with key stats including manufacturing PMI numbers on Monday and Thursday and November housing sector on Tuesday and Wednesday. A particularly busy day on Friday sees November durable goods, finalised 3rd quarter GDP numbers, the FED’s preferred November Core PCE Price Index figures, November personal spending and prelim December consumer sentiment numbers scheduled for release. While the stats will have an influence, it will ultimately boil down to the FED and its economic projections and rate path for 2019 and whether the Friday stats will influence the Dollar. The Dollar Spot Index ended the week up 0.96% to $97.433.
For the EUR, it’s a relatively quiet week on the data front, with stats limited to November finalized inflation numbers and October trade data out of the Eurozone on Monday, Germany business sentiment numbers on Tuesday, wholesale inflation numbers out of Germany on Wednesday and French consumer spending and German consumer sentiment numbers on Friday. On the data front we will expect focus to be on the Eurozone’s year-on-year inflation numbers on Monday and Germany consumer sentiment numbers on Friday. Outside the numbers, sentiment towards the Eurozone and global economic outlook and policy outlook will continue to influence. The EUR/USD ended the week down 0.64% to $1.1306.