CCTV Script 25/11/2013
— This is the script of CNBC's news report for China's CCTV on November 25, Monday.
Welcome to the CNBC Business Daily.
With the Dow above 16,000 and the S&P 500 at 1,800, data takes on further significance for investors.
On Tuesday, we're expected to see a steady rebound in the U.S. housing market. September housing starts expected to rise 2.5%, while the S&P Case Shiller Home Price Index seen up 1.3%.
On Wednesday, we will get consumer sentiment and durable goods orders.
Also in the pipeline, initial jobless claims seen up 330,000 for last week - a tad higher than the week before - but that is unlikely to stray from the view that the US labour market is slowly recovering.
[Soundbyte on tape by Paul Bloxham, Chief Economist for Australia and New Zealand, HSBC] Our view is that the data is starting to look a little bit better. At some point in time, the Fed's going to start to taper. We think that's probably going to happen in the early part of next year. We don't think you should write off the idea that December's a possibility. I think December is still a live meeting in terms of the possibility of the beginning of tapering. but look, I think sometime soon is really what we've got in mind. The next few months, we should start to see the Fed start to taper on the back of the data that's looking better.
The US will be closed for the annual Thanksgiving holiday on Thursday and the market's focus will shift to Japan that day for the release of household spending and CPI data.
Household spending expected to rise 3.7% percent in October. And consumer prices seen inching up 0.7%, well below the Bank of Japan's inflation target of 2%.
[Soundbyte on tape by Michael Mattiusi, Corporate Foreign Exchange Dealer, Western Union] You got the BOJ extremely committed to this, looking at expanding their monetary base. They need to see inflation higher and they believe it's on course as a result of their measures, and they will do whatever it takes to get the there.
Finally, Friday is a big day for the euro zone with the October jobless rate expected to be stuck at a record high of 12-point-2 percent. This as inflation across the currency bloc is seen up just 9-tenths of a percent - a worrying sign that the euro zone could be spiraling into deflation.
I'm Chloe Cho from CNBC's Singapore headquarters.