FXStreet (Delhi) – Research Team at TDS, notes down the important forthcoming events of the day.
Key Quotes
“Mirroring Monday’s healthy PMI data, we expect the German IFO survey to confirm a pick-up in activity in November. We are slightly more optimistic than consensus, and expect small ticks up to both the Current Assessment (TD: 112.8 vs Consensus: 112.4) and Expectations (TD: 104.1 vs Consensus: 104.0) indexes.
NOK: The decline in oil prices is clearly having an adverse effect on the Norwegian economy. The 15Q4 oil investment survey will update energy companies’ planned spending in both 2015 and 2016. With oil prices now lower than at the time of the August survey, it’s likely 2015’s estimate will be revised down slightly from NOK 193nb, but the more significant risk is to 2016, where we could see a much bigger downward revision from the currently-expected 2% decline. We’ve already seen evidence of this kind of revision in other countries: energy companies in Canada have recently revised their spending plans for 2016 to a 20% decline for the year.”
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