Focus is turning to UK job data in most likely another day of quiet trading as France, US and Canada are on holiday. Jobless claims in UK are expected to rose 1.6k in October while unemployment rate is expected to be unchanged at 5.4% in September. Sterling was under some pressure against dollar after dovish BoE is relatively resilient against other major currencies. In particular, the pound managed to stay up against Euro for the month on even more dovish ECB. There are talks that BoE could hike in Q2 next year, ahead of market pricing. But it's quite sure that BoE's move will only come after Fed's highly anticipated hike. Thus, Sterling would likely stay mixed in general, be soft against dollar and firm against Euro and Swiss Franc, ahead.
Meanwhile, the batch of China data would also be watched today, including retail sales, industrial production and fixed assets investments. Earlier this week, OECD lowered global growth forecast to 2.9% and 3.3% in 2016. OECD noted that China's economic troubles could trigger sharp slowdown in global trade and would weigh on growth in general. It noted back in 2012, 2013, the slowdown was mainly due to advanced countries. But in 2015, weak global trade growth centers on emerging markets with China at the heart.
Elsewhere, Australia Westpac consumer confidence rose 3.9% in November. Japan M3 rose 3.6% yoy in October. Japan will also release machine tool orders today.