Insight for Today

Quiet Markets Await US Data

With holidays coming close, market activity continue to decrease. Majors and crosses are bounded in tight range. Focus will turn to a bunch of economic data from US today including Nov Personal Income and spending, durables and conference board consumer confidence. Consumer confidence in Nov is forecasted to drop -0.7% after falling -1% in Oct. Durable goods orders should have fallen -3% in Nov, the 4th consecutive monthly decline after dropping -6.2% in October. Excluding transportation, it's also anticipated to be down by -3% with decline across most industries. Nov's personal consumption expenditure is expected to be flat (mom) as indicated by weak auto sales and retail consumption. As unemployment has been increasing, personal income should remain sluggish in Nov (consensus: 0%) after rising slightly by 0.3% in the previous month while personal spending should have contracted further by -0.7%.