Radio Rallies & Reversals

Here's the economic line-up for this week:

On Wednesday we get the ADP Employment report in the US along with productivity, manufacturing, and the Fed Beige Book;

On Thursday we have US pending home sales, and in the EU we'll get some GDP numbers as well as the ECB's monetary policy announcement;

And finally on Friday we'll get government numbers on employment in both the US and Canada.

Why is the time from US Thanksgiving through Christmas so important? This is the time when consumers usually open up their wallets, and it's this spending that kicks starts the US economy, and the global economy for that matter, into the new year. This is the time that retailers move into the black, hence Thanksgiving 'Black Friday'.

GB