Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
00:30 Australia New Motor Vehicle Sales (MoM) October 5.9% Revised From 5.5% -3.6%
00:30 Australia New Motor Vehicle Sales (YoY) October 7.7% 4.2%
10:00 Eurozone Harmonized CPI October 0.2% 0.1% 0.1%
10:00 Eurozone Harmonized CPI, Y/Y (Finally) October -0.1% 0.0% 0.1%
10:00 Eurozone Harmonized CPI ex EFAT, Y/Y (Finally) October 0.9% 1.0% 1.1%
10:15 Eurozone ECB President Mario Draghi Speaks
11:00 Germany Bundesbank Monthly Report
The U.S. dollar traded mixed to higher against the most major currencies ahead the release of the NY Fed Empire State manufacturing index. The index is expected to rise to -6.25 in November from -11.36 in October.
The euro traded mixed against the U.S. dollar after the release of the better-than-expected final consumer price inflation data from the Eurozone. Eurostat released its final consumer price inflation data for the Eurozone on Monday. Eurozone's final harmonized consumer price index rose 0.1% in October, in line with the preliminary reading, after a 0.2% increase in September.
On a yearly basis, Eurozone's final consumer price inflation increased to 0.1% in October from -0.1% in September, exceeding the preliminary reading of 0.0%.
Restaurants and cafés prices were up 0.10% year-on-year in October, vegetables prices rose by 0.14%, fruit gained 0.07%, fuel prices for transport declined by 0.68%, heating oil prices decreased by 0.22%, while gas prices were down by 0.09%.
Eurozone's consumer price inflation excluding food, energy, alcohol and tobacco climbed to an annual rate of 1.1% in October from 0.9% in September, beating the preliminary reading of 1.0%.
The European Central Bank (ECB) Vice President Vitor Constancio said in a speech in Frankfurt on Monday that the central bank will continue its asset-buying programme until the inflation will pick up toward the central bank's 2% target.
Constancio pointed out that there are downside risks to the outlook for growth and inflation in the Eurozone from the slowdown in in emerging economies and "unfavourable developments in financial and commodity markets".
He noted that the inflation in the Eurozone remains low due to low oil prices and a lack of demand.
The British pound traded lower against the U.S. dollar in the absence of any major economic reports from the U.K.
The Canadian dollar traded lower against the U.S. dollar ahead of the release of the Canadian economic data.
EUR/USD: the currency pair traded mixed
GBP/USD: the currency pair fell to $1.5180
USD/JPY: the currency pair increased to Y123.12
The most important news that are expected (GMT0):
13:30 Canada Manufacturing Shipments (MoM) September -0.2%
13:30 Canada Foreign Securities Purchases September 3.11
13:30 U.S. NY Fed Empire State manufacturing index November -11.36 -6.25
21:30 Australia RBA Assist Gov Kent Speaks
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