Slow start to a big week. Remember it's month-end so we may see some EurGbp strength (Buba purchases), alongside relative equity rebalancing which would see some Euro selling and Jpy selling since Dax and Nikkei were the outperformers in November.
Asian equities and commodities were all lower overnight. Looking forward, today’s German November ‘flash’ HICP will be watched as a preview of Wednesday’s data for the EU as a whole. Both are expected to print slightly better than previous, but not good enough to stop the ECB from announcing further easing measures on Thursday.
Charts for today: see the Game Plan issued yesterday.
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