Analysts at Danske Bank point out that in the US focus today is on the US Michigan consumer sentiment indicator, which will give us more details about the activity in the US service sector and private consumption growth on the back of the mixed signals we received from the strong ISM non-manufacturing and weak PMI services print, respectively. 

“The day will also give us details about how hard the Chinese export sector has been hit by the trade war with the US and the global slowdown from the trade balance figures for October. We expect exports to still look soft but not as weak as in the beginning of 2019. Markets will also keep a close eye on any trade headlines. In Sweden, the September consumption indicator is due out, giving us more clues about where Q3 GDP growth is going to print.”