Daily Market Report - 16/11/2015

During Fridays session the US released a string of disappointing data with Producer price index, retail sales and core retail sales all coming in below forecast.  US wholesale prices unexpectedly declined in October for a second month, depressed by falling costs of food and new model light trucks. The 0.4 percent drop in the producer-price index followed a 0.5 percent decrease in September as the key inflationary figure was hit by a waning global demand and a strong dollar this year which have sent commodity prices plummeting while holding down the cost of goods for consumers. 

Sales at US retailers also rose less than forecast in October as consumers pocketed the money saved after fueling up their cars. Receipts at service stations dropped for a fourth consecutive month as gasoline prices declined and purchases only increased by 0.1% on last months figure. 

On Friday we saw the German GDP released at 0.3%, demonstrating moderate growth which falls in line with expectations. Analysts believe slowing growth removes any doubt that Europe will get another dose of central bank stimulus  European Central Bank President Mario Draghi and fellow officials had already been talking up the chances of an interest rate cut, expanded money printing, or both, when they meet for the last time this year on December. 

Key Announcements
11:15 - EUR:  ECB President Mario Draghi makes a speech