Today the trading session will start with publications from Germany where the Gross Domestic Product data for the third quarter is due at 9 am (all times stated in GMT +2). The figure is expected to remain unchanged at 0.3% against the previous quarter. Data from the German Institute for Economic Research is due at 11 am. According to forecasts, the IFO – Expectations will fall from 103.8 to 103.5 points against the previous month. The IFO – Business Climate will remain unchanged at 108.8 points, while the IFO – Current Assessment will fall from 112.6 to 112.3 points. Confirmation of negative forecasts can pressure the Euro. RBA Governor Glenn Stevens Speech is due at 11:05 am. His commentaries regarding the current state of the Australian economy might cause volatility on the market. In the second half of the day, publications will be coming out in the US. At 3:30 pm, attention should be paid to the GDP Annualised for the third quarter, which is expected to grow from 1.5% to 2.0%. The S&P/Case-Shiller Home Prices Indices is due at 4 pm. On a year-to-year basis, the index is expected to increase from 5.1% to 5.2%. Data on the Consumer Confidence is due at 5 pm. The index should grow from 97.6 to 99.5 points. Positive figures will strengthen the US Dollar. On Tuesday night, attention needs to be paid to data from Japan where the Coincidence Index and Leading Economic Index are due at 7 am.
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