Here Comes European Inflation...

At 10 a.m. GMT, we get the first reading for eurozone inflation in November, which is crucial for economic policy.

Analysts estimated the rate would come in at 0.3% again, but analysts at Daiwa Capital Markets suggest it could drop to 0.2%. That would be a five year low, and put more pressure on European Central Bank president Mario Draghi.

The ECB currently targets 2% inflation, but that target was last reached in the summer of 2012.

If inflation falls even further, that increases the chances that the ECB will have to ease policy: that might mean buying sovereign bonds (QE). Economists at Credit Suisse and BNP Paribas believe this announcement could come as early as December, while others think it will come at the beginning of next year.