On Monday the market will open to reaction on the new government formed in Spain as they hold the General Election on Sunday November 20 and by the time the market opens the new face of the government will show. Expectations are for the opposition People’s Party to overtake majority and end the Socialist government’s rule, the market might still find support in the news as they also support further adjustment and austerity to bring the deficit down to 4.4% by next year!
We still see the week focused on the euro area with the debate how to contain the crisis, especially as now the option of the ECB lending the IMF to lend troubled states reemerging and to see if there is more talk of it which might support the sentiment that some progress is being made.
The euro zone will start this week at 09:00 GMT with the current account figures for September, where the previous non-seasonally adjusted deficit was 6.3 billion euros, while the previous seasonally adjusted deficit was 5.0 billion euros.
TheUnited Stateswill join the session at 15:00 GMT with the existing home sales figures for October, with expectations that the existing homes sales could have retreated to 4.80 million houses from 4.91 millions. In addition, the monthly existing home sales index could show that sales dropped by 2.2% from the previous drop of 3.0%.
TheU.S.data will be carefully watched to follow the development in theU.S.economy especially as the latest data is showing the world’s no.1 economy is showing progress and may lead global economies to recovery in the fourth quarter.
The better-than-forecasted U.S.data released last week managed to ease the tensions spreading in markets on the back of the rise in Spanish and French bond yields which renewed concerns the debt contagion is spreading among the euro region’s largest economies. For the latest updates on the stock market, visit Stock Market Today
U.S.economy outlook november 21-25 2011, European stock market forecast november 21 2011, us stock market predictions november 21-25 2011, asian stock market forecast nov 21-25 2011. For the latest updates PRESS CTR + D or visit Stock Market news Today
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