According to analysts from Danske Bank, next week economic calendar includes the FOMC minutes, PMI data and core capex. They see the minutes from the the recent FOMC meeting less likely to be interesting.
Key Quotes:
“In the US, Wednesday brings FOMC minutes from the October/November meeting and core capex orders for October. The last FOMC meeting revealed no new information and we do not expect much new from the minutes either – the Fed is on track to deliver another hike in December.”
“Looking at core capex, it has been trending upwards since the spring in line with regional capex plan surveys. These suggest core capex orders growth of around 1.0% in October but the monthly changes are very volatile.”
“Markit PMIs for November are due for release on Friday. The large gap between Markit and ISM manufacturing narrowed in October and we expect this trend to continue (driven by both variables). Hence, we estimate that Markit PMI rose to 55.6. We estimate the service index stayed around its current level of 55.3.”
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