In the US session Chicago PMI and Pending Home Sales figures. The Chicago Business Barometer decreased 7.5 points to 48.7 in November from 56.2 in October, as a sharp fall in New Orders put it back into contraction for the sixth time this year. Smaller decrease to 54.3 was anticipated. The significant decline in the Barometer is indicative of the see-saw pattern of demand seen in 2015, with output and orders shifting in and out of contraction. The November fall also suggests that activity over the final quarter of the year may well decelerate barring a bounceback in December.
The Pending Home Sales Index, inched 0.2% to 107.7 in October from an upwardly revised 107.5 in September and is now 3.9 percent above October 2014 (103.7). Increase by 1.6% was predicted. The index has increased year-over-year for 14 consecutive months.
Tomorrow's session will be marked by Spanish and Italian Manufacturing PMI figures as well as German Unemployment Change and Eurozone Unemployment Rate data. Both Spanish and Italian Manufacturing PMI figures are expected to increase to 51.9 and 54.3 points respectively. Number of unemployed in Germany should decline by 4,000, while Eurozone Unemployment Rate should remain unchanged at 10.8%. US session will bring Manufacturing PMI figures. Decrease to 53.7 was anticipated.
Figures to watch:
Spanish Manufacturing PMI (Tuesday 9:15)
Italian Manufacturing PMI (Tuesday 9:45)
German Unemployment Change (Tuesday 9:55)
Unemployment Rate (Tuesday 11:00)
ISM Manufacturing PMI (Tuesday 16:00)
