The U.S. dollar was seen easing back by Friday’s close. This came amid a slightly better than expected building permits and housing starts data. However, the markets shrugged aside the data and the U.S. dollar index continues to consolidate near the support level.
Canada released its monthly inflation figures. Data showed that consumer prices eased in October as inflation slowed to 1.4% annually. This was slower than the 1.6% increase registered on an annual basis the month before. The decline in the inflation came on account of slower fuel price increase.
Looking ahead, the economic data today includes a scheduled speech by ECB President Mario Draghi. Draghi is expected to testify to the European Parliament in Brussels today and the recent ECB’s monetary policy actions are likely to be addressed as well. On the economic front, data today includes the German PPI numbers which is forecast to rise 0.2% compared to 0.3% increase posted previously
