Housing and consumer confidence are on the US agenda

What's on the economic calendar

Once again today it will be all about the stock market. S&P 500 futures are up 16 points, nearly erasing yesterday's decline. FX is a bit more buoyant with AUD/USD near the highs of the week and USD/JPY challenging 113.00.

The economic calendar has few highlights today. We're awaiting the tally on German CPI at 1300 GMT. The consensus is 2.4% y/y on the EU-harmonized measure but the regional numbers have been running a bit hot.

At the same time, the Case-Shiller US housing index is due out with the 20-city measure forecast up 5.8% y/y.

The ECB's Praet speaks at 1330 GMT with Lautenschlaeger at 1410 GMT.

The highlight of the day is the October consumer confidence report at 1400 GMT. The consensus is for a dip to 135.9 from 138.4.