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European Economics Preview: German ZEW, UK Labor Market Data Due


Europe is set for a busy day on the economics front with the ZEW investor confidence survey results from Germany and the labor market data from the UK due.

The UK labor market data is due at 4.30 am ET on Tuesday. The ILO unemployment rate is expected to remain unchanged at its 43-year low of 4 percent in the three months to September and employment is forecast to grow 25,000.

Average earnings including bonus is expected to grow 3 percent year-on-year after a 2.7 percent gain in the previous period. Excluding bonus, pay is forecast to rise 3.1 percent, the same as in August. The rate of growth was the fastest since late 2008.

The Mannheim-based ZEW is set release its latest investor confidence indicator for November at 5 am ET. The German investor confidence measure is expected to weaken to -26 from -24.7 in October. The current situation index is forecast to drop to 65 from 70.1.

In other data, the Central Bureau of Statistics is set to publish the Dutch retail sales figures for September at 00.30 am ET.

Destatis is set to release the final figures for German inflation for October at 2 am ET.

European Central Bank's Chief Economist Peter Praet is set to speak in London at 3 am ET.

Producer and Import prices for October are due from Switzerland's Federal Statistical Office at 3.15 am ET. The producer and import price index is forecast to rise 2.2 percent year-on-year following 2.6 percent increase in September. Month-on-month, the index is expected to edge up 0.1 percent following a 0.2 percent fall.

ECB's Sabine Lautenschlager, who is the Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, is set to speak in Frankfurt at 3.45 am ET.

Final consumer price inflation data for October is due from Portugal at 6 am ET. Headline inflation was estimated at 1 percent on October 31.

ECB Vice President Luis de Guindos is set to speak in Frankfurt at 2 pm ET.

Also due on Tuesday are unemployment data from Iceland and Poland current account balance, both at 7 am ET.

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