Euroland inflation

Data from the US should pick up next week, starting from the many monetary policy speeches scheduled. Since financial market sentiment is somewhat driving monetary policy at the moment, they may take precedence over economic data. The release of data on consumer confidence for the month of November is expected to show a further deterioration. Durable goods order - an important gauge of business spending which recently looked weak - should also attract some attention.

In euroland, the important November inflation numbers are likely to be impacted from the recent surge in energy prices and food prices. As for survey data, the EU-13 economic confidence indicators for November are expected to decline in all sectors, even though the deterioration should be orderly.

In the UK, data will be primarily consumer-related. The Bank of England should publish its monthly report on consumer credit, net mortgage lending and mortgage approvals (the latter being the most forward-looking). Other key data this week particularly important ahead of an uncertain December Monetary Policy Committee meeting, includes consumer confidence and retail sales figures.

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