There is a lot to ponder this week: US consumer confidence report today, the same for the euro zone tomorrow together with US 3Q GDP growth estimates followed by Chinese manufacturing survey, euro zone flash inflation reading and US PCE price index on Thursday and finally US manufacturing PMI on Friday to round up this week’s data releases.
Last week was extraordinary, the moves breath taking, leaving participants feeling nauseous in dips and vertiginous in rallies in single day oscillations, and adding to the outer-world feeling is that the marker crudes chimed in with almost zero changes with WTI -$0.35/barrel on the week and Brent -$0.03.
The oil suite remains rather stunned after the cancellation of Saudi Sunday. With the Thanksgiving holiday in the US in full swing and the risk aversion that has ensued, some of the crazy has left the market as those that...
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