Good Morning Traders! This Tuesday we get a moderately quiet session, with comments from ECB's Nagel and BoE's Bailey.

Here is what to expect.


According to Michele Bullock, governor of the Reserve Bank of Australia, it is necessary to control inflation expectations without increasing unemployment. She gave a speech on Tuesday at the HKMA-BIS panel in Hong Kong.

The UK retail industry has experienced a 17-month low in inflation as they compete to draw customers ahead of the busy Christmas season. Deputy Governor Dave Ramsden of the Bank of England said that UK inflation has become considerably more "homegrown" and that just over half of the tightening the bank has done so far has not materialised.

According to Adobe, US consumers are expected to spend up to $12.4 billion online on Cyber Monday. The company revised its initial projection of $12 billion upward due to Black Friday spending exceeding expectations and the growing popularity of buy-now-pay-later features that allow consumers to stretch their credit limits.

Despite the dollar's decline this month due to weakening economic data and growing anticipation that the Federal Reserve's most aggressive rate-hiking cycle in a generation is coming to an end, hedge funds rushed into optimistic bets on the currency.

Following a stretch of losses, oil saw a little increase as the market balanced the likelihood of more output cutbacks from OPEC+ against indications that supply is outpacing demand globally.


04:00 AM ET
Eurozone Money-M3 Annual Growth
Median Forecast -0.9% | Prior -1.2% | Range -0.5%/-1.5%


03:00 AM ET
ECB's Nagel Speaks

07:30 AM ET
BoE's Gov. Bailey Speaks

Good Luck Today Traders!