The annual growth rate of the broad monetary aggregate M3 increased to 3.1% in November 2014, from 2.5% in October 2014. Analysts were anticipating 2.6% increase. The three-month average of the annual growth rates of M3 in the period from September 2014 to November 2014 increased to 2.7%, from 2.3% in the period from August 2014 to October 2014.
In the US CB Consumer Confidence figures were released. The Conference Board Consumer Confidence Index, which had declined in November, improved in December. The Index now stands at 92.6 up from 91.0 in November. However, analysts were forecasting an incline to 94.6. The Present Situation Index rose to 98.6 from 93.7, while the Expectations Index decreased to 88.5 from 89.3 in November.
There will be no data releases from Eurozone tomorrow, while German banks will be closed in observance of New Year's Eve holiday, which means that we can expect a steadier European part of the session. US session will bring Unemployment Claims, Pending Home Sales and Chicago PMI data. Unemployment Claims are forecasted to increase to 287,000. Chicago PMI should fall to 60.2 points, while Pending Home Sales should raise by 0.6%.
Figures to watch:
Unemployment Claims (Wednesday 14:30)
Chicago PMI (Wednesday 15:45)
Pending Home Sales (Wednesday 16:00)
