Daily Economic Outlook: 2nd December, 2015

U.S. ADP non-farm employment change for November is scheduled to release today. This figure will provide key input into the FOMC's deliberations before Fed's December 16 policy meeting. Moreover, the Fed is expected to publish its monthly 'Beige Book' of regional and sectoral developments today.

"Domestically, the construction PMI for November is likely to edge up to 58.9 from 58.8. This would maintain its broad upward trend since April. Meanwhile the Bank of Canada is set to keep its policy rate fixed at 0.5% for the fifth month in a row", says Lloyds Bank.

In euro area, the ECB is expected to easy its monetary policy further at policy meeting tomorrow. The preliminary euro area CPI estimate for November due today is post a moderate growth. The annual headline inflation is expected to increase from 0.1% to 0.2%, whereas, core inflation is likely to remain unchanged at 1.1% y/y, estimates Lloyds Bank.