On Tuesday, November 11, investors’ focus will be on the UK’s employment data for September, the German ZEW sentiment index for November and the EIA's short-term oil outlook. It will be critically important to understand how the German economy reacted to the new restrictive measures as this will clarify the amount of monetary stimulus from the ECB in December.

On Wednesday, RBNZ will announce its decision on the interest rate, which is not expected to come as a surprise to the market - rates should remain at the current level (0.25%). UK economic data for the third quarter will be useful to gauge economic momentum, however investor attention is on the lockdown that was recently introduced and expect to deliver a heavy blow on economic activity.

US CPI and US initial jobless claims will be key data next Thursday. The monthly change in inflation in the US is expected to be 0.2%, lower CPI figures will increase the likelihood of the Fed intervention and quick approval of the fiscal deal.

On Friday, the only major report will be the US PPI, which is expected to slow to 0.2% on a monthly basis.

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