Market movers today
We expect the German financial ZEW expectations to break the 10-month streak of declines and increase to 0.0 in November. The Sentix expectations increased in November and since late October the German DAX has risen around 7.5%, while the market's expectation of further ECB action has been fuelled by an official balance sheet target. However, there is downside risk as activity is still weak in Germany.
In the US the NAHB Housing Market Index is expected to increase slightly, although we have seen some soft signs for the housing market recently, especially a slowdown in housing prices.
ECB's executive board member Lautenschlaeger is scheduled to speak today and as she is considered hawkish, her comments could cause a negative market reaction after dovish comments from prominent ECB members yesterday, see ECB members strengthening easing bias . Fed member Kocherlakota also speaks today but he is very dovish and his comments matter less.
In Denmark the refinancing auctions continue and in Sweden governor Ingves and vice governor Jansson will speak.
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