Euro area November consumer confidence may improve

The European Commission's consumer confidence indicator is scheduled to publish today. The indicator is calculated based on the questions regarding the general economic situation, savings and households' financial situation, expectations of unemployment over the next 12 months. 

Other business surveys observe an improvement in the job market of the economy both in terms of wages as well as employment. Lower oil prices continue to prevail in the market , therefore, purchasing power for consumers is seemed to be increased.

"We expect the number for consumer confidence to improve from -7.7 to -6.9 for November. The rest of the EC confidence indicators, along with the flash PMI estimates, will be released next week" says Societe Generale in a research note.