The Week Ahead

Data wise we see a very light week ahead aside from China which kicks off its bevy of data releases on Thursday with trade followed by the rest on Friday headlined by CPI – with China ditching its relaxed monetary stance, the CPI is the one to watch.

In the US we see the University of Michigan survey on Friday and little else.

In Europe preliminary Q3 GDP data whilst in th UK – the inflation report on Wednesday with trade and industrial production data on Tuesday.

The leaders G20 summit in Seoul 11-12th November is most likely a non-event. China and Germany have already taken up their positions (not surprisingly the biggest C/A surplus nations on the planet) whilst the rest are unlikely to criticize US domestic monetary policy.