Market Focus
Time pressure for a deal on Greece is growing because Athens has to redeem 5 billion euros worth of treasury bills on November 16 and has been counting on cash from the next euro zone aid tranche to help cover that. However, Euro zone finance ministers meeting on Monday is unlikely to release a new tranche of funding to Greece because the troika of international leaders was unlikely to deliver its full report in time. The progress of negotiation is worth to monitor closely in this week.
In the United States, retail sales and industrial production are scheduled to release on Wednesday and Friday and both of them are expected to rose by 0.2 percent in October.
In China, handover of power from Communist party chief Hu Jintao to Xi Jinping is scheduled in this week.
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