Market movers today
The German IFO expectations are due for release and we look for another positive surprise. In line with the ZEW expectations the IFO expectations bottomed in October and if the latest development in ZEW expectations is anything to go by, today's IFO expectations should show an increase to the highest level since the summer.
UK retail sales should increase again in November after showing some weakness in H2. We expect global private consumption to increase as it is boosted by lower energy costs due to the drop in the Oil price.
US initial jobless claims are expected to remain broadly unchanged at the current low level. On the other hand, continuing jobless claims are expected to decline again after a jump last week, which might have been due to bad weather.
Russia's president Putin will hold his annual official press conference. From a market perspective focus will be on comments regarding the recent market turmoil and the sharp drop in the value of the rouble and the markets will be looking for hints on any possible market action.
The biggest concern would be hints on currency controls and on whether Putin will blame the EU and the US for the recent market turmoil.
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