Societe Generale in its early Tuesday economic news summary pointed out:
-- Foreign exchange rangebound, 10-year United States Treasury advances to 4.41%, duration selling adds to bear steepening. Sterling outperforms on strong labor market data, Gilts sell-off. China's central bank ups yuan defense, fixing 956 pips stronger than consensus, state banks sell USD before Federal Reserve on Wednesday.
-- Day ahead: US retail sales, SocGen forecasts: 0.5% month-over-month gain headline and excluding autos, industrial production. European Central Bank speakers Kazimir and Rehn. Hungary central bank forecast to keep rates on hold, Chile forecast to cut 25bps. Canada's consumer price index.
-- United Kingdom October average earnings including and excluding bonuses accelerate to 5.2% three-month over year on year, above forecast. September revised up. Private sector climbs to 5.4%, public sector 4.2%. Employment 173,000 gains, September revised up to 253,000. Unemployment rate steady at 4.3%.
-- Nikkei -0.2%, EUR 10-year IRS +1bp at 2.25%, Brent crude +0.3% at $74.1/barrel, Gold +0.1% at $2,655/oz.
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