In the US, focus will be on the ISM manufacturing index figure for November today. We estimate the index increased to 53.3 in November from 51.9 in October in line with the Markit PMI manufacturing index, which continued to show strong readings last week.
US initial jobless claims will also attract some attention ahead of the US jobs report tomorrow.
We have FOMC Member Kaplan ('dovish' with 2017 voting right) due to speak today.
In the euro area, the main release is the unemployment rate for October. The unemployment rate has plateaued at 10% since July, but we expect the October figure to fall to 9.9%, as latest survey indicators including the PMI employment index have remained strong. Data for the manufacturing PMIs for Spain and Italy for November is also due out. The latter will be of special interest, as the population's impression of economic conditions could influence their vote on the upcoming constitutional referendum on Sunday.
In the UK, the PMI manufacturing index for November is due to be released today. The index rebounded significantly after the Brexit vote, supported by the weaker GBP and higher global PMIs, and we expect PMI manufacturing to increase further to 55.0 for November (consensus: 54.4).
Scandi countries will also publish PMI data.
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