Investors will be looking at the outcome of the four-day Reform Summit by Chinese officials on Tuesday. The gathering that includes Chinese President Xi Jinping and top Chinese officials set out to to decide on the scale and pace of changes in the country for the next decade.
 
The Chinese State Council’s research institute has suggested for the government to curb its role in the economy, adjust the fiscal system and spur foreign investment. The conclusion of the summit will see the release of a communique outlining the road-map for this.
 
Last week, China posted better-than-forecasted export numbers for October, rebounding 5.6% drop the unexpected 0.3% drop in September.
 
Key Macro Data this week
Tue12 Nov: US NFIB Small Business Optimism (Oct)
Thu 13 Nov: US Weekly MBA Mortgage Applications
Fri 14 Nov: Japan GDP (3Q), China foreign Direction Investment (Oct), Eurozone GDP (3Q), ECB Monthly Report, US Trade Balance (Sep), Weekly Initial Jobless Claims
 
Elsewhere, it looks to be a relatively light week in terms of economic data with the Eurozone GDP on Friday afternoon the main point of focus for investors. Reports showing a slowing Eurozone GDP will support ECB president Mario Draghi’s case for an interest-rate cut to help the economy get back to its feet. Last Thursday, Draghi announced a surprise rate cut to 0.25%, citing that the Eurozone faces a danger of a “prolonged” period of low inflation. The median forecast of 41 economists predicts for the Eurozone 3Q GDP to grow 0.1%, a slowdown from the 2Q’s 0.3% growth.

Source: Macquarie Research - 11 Nov 2013