Christmas week will be very light, led by consumer sentiment updates from the Eurozone on Monday, followed by Germany and the US on Tuesday. All, reflecting Covid effects, are expected to remain soft. An announcement from China on its loan prime rate week opens the week with no change expected. Wednesday will see the most news: October GDP from Canada as well as durable goods orders and new homes sales from the US, the latter two offering updates on two US strengths: capital goods and housing. And Wednesday will also see jobless claims from the US where only marginal improvement, after two weeks of significant disappointment, is expected.
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