Focus turns to fiscal cliff negotiations in the US.
US retail sales to weaken a bit - due partly to Hurricane Sandy. We expect US regional business surveys from Empire and Philadelphia to decrease.
Fed minutes to reveal how close Fed is to Evans rule.
Debt relief and new programme for Greece in focus at the Eurogroup meeting. We expect Euro Q3 GDP data to show a decline of 0.2% q/q.
New leadership in China is due to be announced during the week - probably on Thursday.
Japanese Q3 GDP figures are likely to show a substantial decline in Q3.
Swedish data is likely to point to rising inventories. We expect inflation to undershoot the Riksbank target.
Global update
The US president Barack Obama got re-elected but, as expected, Congress is still split between Democrats and Republicans.
Following the re-election of US President Obama, focus quickly turned to the fiscal cliff. This will be the dominant theme until year-end and keep markets nervous.
The ECB signalled no plans of further easing despite disappointing data on orders and production.
China continued to deliver positive news, as inflation was lower and production higher.
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