Analysts at National Bank Financial, suggest that in the US, the week will provide important information about the housing market in October with the release of pending and new homes sales data.
“A rebound is expected for the latter indicator following its worst 6-month stretch since 2010 (-17.7% between March and September). In other news, both personal income and personal spending likely rose in October, buoyed by decent earnings growth.”
“The annual core PCE deflator, meanwhile, may have slid one tick to 1.9%, just below the Fed’s target. Q3 GDP growth, for its part, could be revised up slightly.”
“We’ll also keep an eye on the release of the S&P CoreLogic Case-Shiller Home Price Index for September and the Conference Board Consumer Confidence Index for November. Finally, the Fed will release the minutes of its November 8 meeting.”