A very quiet day on the data front with US existing home sales and euro consumer confidence as main releases.
US existing home sales are expected to fall slightly in November to 5.2m from 5.26m in October. Pending home sales, which is a good leading indicator for existing home sales, have been flat in the past months suggesting that the upward trend is weakening.
Euro consumer confidence has stabilised somewhat after falling from May to September. We look for a small rise to -10.5 from -10.6 on the back of the sharp decline in the oil price and slightly better business confidence in some countries lately.
Read the full report: FX Daily