A Thanksgiving lull

Markets were understandably quiet yesterday given the Thanksgiving holiday in the US. On the currencies front, the euro continued to trade a little north of $1.19 against the dollar and at over 89p against sterling with the latter trading just shy of $1.34.  European stocks ended flat yesterday while core bond yields were unchanged

ECB Chief Economist Philip Lane says the central bank will “recalibrate” monetary policy at its December meeting “to respond to the unfolding (economic) situation and to ensure that financing conditions remain favorable to support the recovery”

Bank of England member Michael Saunders says there will be a dip in the UK economy in the fourth quarter due to tighter public health restrictions, while also noting the difficulty for companies planning for the end of the Brexit transition period, who he says have had lots of time to prepare “but haven’t known what to prepare for”

Donald Trump has said he will vacate the White House if the Electoral College confirms Joe Biden won the recent presidential election. The Electoral College will make its determination in December

Data due today includes the European Commission’s Economic Sentiment Indicator for the Euro Area