Despite a busy economic calendar this week, markets are likely to remain focused on the euro zone’s sovereign debt crisis, with the euro expected to remain under pressure against the dollar. On the home front, the key event of the week will come on Thursday when the Government releases its spending estimates for 2012.
MONDAY
Results:Saongroup.com
Meeting:UK Deputy Prime Minister Nick Clegg to address reception for business leaders (PwC, D1); US President Barack Obama, European Council President Herman van Rompuy and European Commission President Jose Manuel Barroso to attend EU-US Summit; ECB Governing Council member and Bank of France Governor Christian Noyer to speak at Europlace seminar on financial reform (Tokyo)
Indicators:EU-17 M3/3 Month Moving Average (Oct); Irish Retail Sales Index (Oct), and Crops and Livestock Survey (Jun); US New Home Sales (Oct); UK Hometrack House Prices (Nov) and CBI Distributive Trades Survey (Nov); German Prelim CPI (Nov) and Gfk Consumer Confidence (Dec)
Other:Trading update from Aryzta; launch of OECD World Economic Outlook
TUESDAY
Results:Thomas Cook
Meeting:Eurogroup meeting; BSkyB agm; ECB Executive Board member Juergen Stark to give lecture on "Globalisation and Monetary Policy: From Virtue to Vice?" (Dallas)
Indicators:EU-17 Economic Sentiment (Nov); US Case Shiller House Prices (Sep) and Consumer Confidence (Nov); UK Nationwide House Prices (Nov) and Mortgage Approvals (Oct)
Other:Launch of new website decisionmap.ie (Science Gallery, TCD); OECD Consumer Price Indices; British Finance Minister George Osborne to unveil plans to boost the economy; Final vote on 2012 budget bill in Portuguese parliament
WEDNESDAY
Results:Britvic
Meeting:ECOFIN Council Meeting (Brussels); Launch of Tourism Ireland's 2012 Marketing Plans (Convention Centre Dublin); Friends First chief economist Jim Power launches quarterly economic outlook 'Budgeting for Fiscal Stability' (Merrion Hotel, D2); Joint Oireachtas Committee on Jobs, Social Protection and Education meeting on Budget 2012 and possible impact on the poor; Joint Oireachtas Committee on Finance, Public Expenditure and Reform meeting to review Public Service Reform Plan; annual Irish Pharmaceutical Healthcare Association meeting (Aviva Stadium)
Indicators:EU-17 Flash HICP (Nov) and Unemployment (Oct); Irish Milk Statistics (Oct), Survey on Income and Living Conditions (2010), Live Register (Nov) and Private Sector Credit (Oct); US ADP Employment Report (Nov), Chicago PMI (Nov) and Pending Home Sales (Oct); UK Gfk Consumer Confidence (Nov); German Unemployment (Oct)
Other:OECD Trade statistics; US Federal Reserve issues the Beige Book
THURSDAY
Results:Barnes and Noble
Meeting:Aryzta agm (Zurich); Public Accounts Committee meeting on FÁS Annual Report 2010; ECB President Mario Draghi to present ECB's Annual Report 2010
Indicators:EU-17 Markit Manufacturing PMI (Nov); US Initial Jobless Claims (w/e Nov 26th), Construction Spending (Oct), ISM Manufacturing (Nov) and Vehicle Sales (Nov); UK CIPS Manufacturing PMI (Nov); French ILO Unemployment (Q3)
Other:Government to release detailed spending estimates for 2012 and ceilings to 2014; third quarter trading update from B&Q owner Kingfisher
FRIDAY
Meeting:Annual Dublin Chamber of Commerce Lunch 2011 with Dan Cobley, Google (Burlington Hotel); ECB Executive Board member Juergen Stark gives lecture on "The Economic Situation and Fiscal Challenges" (New York)
Indicators:EU-17 PPI (Oct); Irish Exchequer Balance (Nov) and White Paper on Receipts & Expenditure; US Non-Farm Payrolls (Nov)
Other:Berkeley Group interim results
