At 4:00 AM Eurozone October Manufacturing PMI (exp 53.0, prev 53.2)
Eurozone August Current Account Surplus (exp 2.0 bln euros, prev 1.7 bln euros)
Eurozone October services PMI (exp 54.5, prev 54.2)
At 10:00 AM US September Existing Home Sales (exp 5.25 mln units, prev 5.5 mln units)
The greenback continues to struggle against the majors, falling sharply against the Australian dollar on burgeoning rate hike expectations for the RBA. Meanwhile, economic data from the US suggests further deterioration in the housing market – thereby raising the question of whether there will be spillover effects onto other parts of the economy, namely consumer spending. In the session ahead, traders will digest September existing home sales, which is seen slumping further to 5.25 million units, down from 5.5 million units from August.
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