1. EU Crisis Headlines: Wednesday Could Be The Big One
On Friday Reuters reported that Euro-zone finance ministers are likely to approve Greece’s next €8B tranche of emergency loans on Wednesday November 30th, after Antonis Samaras, head of the main right-wing party, provided written commitment to support the goals of reform. This was a key EU/IMF condition to providing the aid, as it appears to have guaranteed that Greece will make additional spending reforms in exchange for the cash.
Expect significant EU crisis headlines to be the prime market mover again this week, and this Tuesday decision could be the most significant, as it defers the most immediate default threat.
2. Top Calendar Events
A. US Monthly Jobs Reports & Earlier Reports That Help Forecast The Friday Report
- Wednesday: Challenger job cuts, ADP non-farms employment change, Chicago PMI
- Thursday: ISM manufacturing PMI
- Friday: US monthly non-farms employment change & unemployment rate reports
B. Other
- Monday: US new home sales
- Tuesday: UK nationwide HPI, US CB consumer confidence, EU Ecofin meetings (decides if Greece gets cash needed to defer upcoming default)
- Wednesday: EU Ecofin meetings (decides if Greece gets cash needed to defer upcoming default)
- Thursday: Australia building approvals, retail sales, China manufacturing PMI, UK manufacturing PMI and inflation report, Halifax HPI
DISCLOSURE /DISCLAIMER: THE ABOVE IS FOR INFORMATIONAL PURPOSES ONLY, RESPONSIBILITY FOR ALL TRADING DECISIONS LIES SOLELY WITH THE READER. IF WE REALLY KNEW WHAT WOULD HAPPEN, WE WOULDN’T BE TELLING YOU FOR FREE, NOW WOULD WE?
