Dollar steady

The dollar is not much changed against the euro and sterling this morning trading at around $1.0350 and $1.20 respectively, while the single currency-pound exchange rate continues to hover above 86p

In government bond markets, US 10-year yields have moved up a touch to 3.75% with equivalent German and UK yields also a little higher at around 1.95% and 3.12% respectively

The annual rate of headline inflation in Germany and Spain dipped in November, perhaps pointing to a small decline in inflation for the Euro area as whole this month (data due later this morning) from October’s 10.6%

Mortgage approvals in the UK fell in both volume and value terms in October, no doubt reflecting the fallout from September’s infamous “mini budget” which among other things prompted a sharp spike in mortgage interest rates

Consumer confidence in the US declined in November according to the Conference Board’s latest survey, with respondents more pessimistic about both the current and prospective economic situation this month

Economic data due today include Euro area CPI inflation; the Lloyds Bank Business Barometer in the UK; and the ADP employment report and a second estimate of Q3 GDP in the US