Here Comes European Inflation... | ||
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At 10 a.m. GMT, we get the first reading for eurozone inflation in November, which is crucial for economic policy. Analysts estimated the rate would come in at 0.3% again, but analysts at Daiwa Capital Markets suggest it could drop to 0.2%. That would be a five year low, and put more pressure on European Central Bank president Mario Draghi. The ECB currently targets 2% inflation, but that target was last reached in the summer of 2012. If inflation falls even further, that increases the chances that the ECB will have to ease policy: that might mean buying sovereign bonds (QE). Economists at Credit Suisse and BNP Paribas believe this announcement could come as early as December, while others think it will come at the beginning of next year. Join the conversation about this story »  | ||
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Russia's Northern Fleet Is In The English Channel | ||
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A squadron of ships from Russia's Northern Fleet is currently conducting drills in the English Channel, according to Russian media. The squadron, lead by the Udaloy-class destroyer Severomorsk and including the Alexander Otrakovsky amphibious ship and a tanker, are conducting exercises such as assisting a vessel in distress, communication training and transferring fuel in international waters. The ships are crewed by a total of 250 Russian marines. According to the Russian navy's press service: "Today, a squadron of ships and support vessels from the Northern Fleet have passed the narrowest part of the English Channel in the Strait of Dover and have entered a bay near the mouth of the Seine River." State-owned news-wire Sputnik news reports that due to bad weather the ships are remaining in the bay until the storm passes. Join the conversation about this story »  | ||
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European Markets Are Sliding | ||
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Europe's major stock indices are all down this morning, ahead of eurozone inflation data. Here's the scorecard. France's CAC 40: -0.50% Germany's DAX: -0.46% The UK's FTSE 100: -0.66% Spain's IBEX: -0.52 Italy's FTSE MIB: -0.62% Asian markets were mixed: Japan's Nikkei rallied, closing up 1.23%, while Hong Kong's Hang Seng ended Friday down 0.07%. That's after figures showed Japanese inflation dropping below 1% for the first time in a year. US futures are down too: ahead of the open, the S&P 500 is 5.25 points lower, and the Dow is down 36 points. We're also waiting on inflation data for the whole of the eurozone, which is out at 10 a.m. GMT. Analysts had forecast a 0.3% reading, but it's possible that the index will drop even further, falling to a five-year low barely out of negative territory. There's no US data out today, since it's the day after Thanksgiving. Join the conversation about this story »  | ||
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