China Mixed, Japan Misses, the EuroGroup Meets and the US is Quiet

Overnight Chinese exports were higher than projected in October's Trade Balance. On the other side of the coin, Chinese Credit Growth for October came in lower than consensus by about -15%. Japan's GDP came in at a disappointing -3.5% for Q3 on an annualized basis due to falling exports and consumer spending.

In Europe, the EuroGroup Finance Minisiters' meeting is being held today, of course last week Germany's Finance Ministry said and the EuroGroup reiterated that a decision of the disbursement of the next tranche of Greek aide is not likely to be reached today (one reason was the German Lower House would not be able to consider and/or pass the request before today) as the Troika report on Greece still has not been made avaiable despite the Greek ruling coalition, that is quickly falling apart, having passed the Austerity measures demanded by the Troika as a nessecity before any more aide can be disbursed to Greece.

Israel's "Limited" response from a Syrian shell falling in the Golan Heights has continued today with an Israeli rocket striking a Syrian factory.


The US session is light as there are few macro economic events and yesterday's Veteran's Day is officially observed today, closing the bond markets with only the US Equity markets open-could be interesting and volatile.

 ES (SPX futures) overnight with the European open at the green arrow; $1374.75 was the 4 p.m. level  Friday.

The EUR/USD since FX trade opened yesterday.