Next week traders will be looking for indications about the state of the US housing market as key data such as building permits, housing starts, existing home sales and NAHB housing index are released. Recent forecasts suggest a recovery in existing home sales from September's 34-month low while figures for both housing starts and building permits should increase to 1.24 million and 1.27 million, respectively. November's home builder sentiment is also set to remain strong. Other important releases for the US include: durable goods orders, flash Markit PMIs and the final reading of Michigan consumer sentiment.
The UK will be publishing CBI factory orders and public finances figures. Also, BoE Governor Mark Carney will appear in the Parliament for Inflation Report hearing on Tuesday. Elsewhere, investors will be waiting for the ECB minutes release for further clarification on the next monetary policy steps. In addition, the Eurozone flash PMI will be highly anticipated as a further slowdown in economic activity growth is forecast, after October's data showed the pace of expansion hit a two-year low amid global trade tensions. The flash reading of November's consumer sentiment index should also point to a deterioration in morale across the bloc. Meanwhile, updated estimates of German GDP are likely to confirm its first contraction since early 2015 due to a decline in exports and household consumption. Other key highlights include: France unemployment and business confidence; Switzerland industrial production and foreign trade; and Turkey consumer confidence.
In addition, political developments in Italy will likely be watched as the European Commission has until November 21st to decide whether to take next step toward financial sanctions for the country. Meanwhile, European Union leaders will meet on November 25th to finalize the draft Brexit agreement.
In Japan, October's inflation is expected to hold steady at 1 percent, still well below the Bank of Japan's 2 percent target. The country's trade figures will also be followed. Meanwhile in Australia, the minutes of RBA's November meeting are awaited for clues of the next interest rate move. Other key highlights for the Asia-Pacific region include Thailand Q3 GDP figures and trade balance, as well as Malaysia inflation.