Retail sales, CPI the highlights

There is a lot of data that will be released at the bottom of hour:

  • US CPI (not PPI) MoM is expected to rise by 0.1% versus 0.5% last month. Ex food and energy is expected to increase by 0.2%. YoY for the headline is expected to show a 2.0% increase versus 2.2% last month. The ex food and energy year on year is expected to remain unchanged at 1.7%
  • US retail sales for October are expected to come in unchanged (0.0%) versus +1.6% gain in the prior month. Ex auto is expected to rise by +0.2% versus +1.0% last month. Ex Auto and gas is expected to rise by +0.3% versus +0.5%. Finally the control group is expected to rise by +0.3% versus +0.4%.
  • The Empire manufacturing index for November is expected to come in at 25.1 verse 30.2.
  • The Canadian Teranet/National Bank HPI MoM will also be released. Last month it fell -0.8% month on month and gained 11.4% year on year. There are no estimates for the month of October.

Later today:

  • 9:00 AM ET/1400 GMT. Canada existing home sales for the month of October. Last month they rose by 2.1%
  • 10 AM ET/1500 GMT US Business inventories for September is expected to rise 0.0% versus 0.7% last.
  • DOE inventory data will be released at at 10:30 AM ET/1530 GMT. Yesterday the private data showed:
  • The estimate is for crude to fall -2.400M. The gasoline inventories are expected to fall -1.500M. Distillates are expected to fall -1.800 M