As is often the case when the US is closed for a holiday, North American trading has been pretty quiet. Canadian stocks are up a bit led by a rally in base metal stocks sparked by the big rebound in copper. Today we’ll get a better idea if the excitement generated by the prospects of government buying to sop up oversupply in metals (a phenomenon we see more often in oil than mining) has any follow through or if it was a one day event. How metals trading plays out could have a significant influence on trading in the S&P/ASX and AUD to wrap up the week. Meanwhile, the first big round of Japanese monthly data could spark some activity in JPY and the Nikkei as traders try to figure out how much pressure the Bank of Japan is under to bring in more stimulus like the ECB, or if comments from Governor Kuroda and others that inflation can increase going forward are accurate. Black Friday trading in the US is often a pretty quiet affair but as anecdotal reports come in from the malls we could see some action in retailer stocks with more possible on Monday. Expectations for Amazon have been running really high while expectations for traditional retailers have been more subdued leaving room for potential surprises. Traders may also spend Friday positioning ahead of a massive week for economic news with something big set for each day that could rock the markets and create trading opportunities including: Monday US holiday weekend retail sales Tuesday Manufacturing PMI from around the world Wednesday ADP Payrolls plus Bank of Canada Thursday ECB Meeting with new stimulus expected Friday US nonfarm payrolls, Canada jobs, US and Canada trade balances Corporate News There have been no major announcements after the US close today. Economic News Significant announcements released overnight include: Spain GDP 3.4% as expected Sweden trade balance SEK (0.9B) vs street SEK 2.0B Upcoming significant economic announcements include: (Note: 11:30 am in Sydney/Melbourne is currently 1:30 pm in Auckland, 4:30 pm in Vancouver, 7:30 pm in Toronto/Montréal, 12:30 am in London and 8:30 am in Singapore) 10:30 am AEDT Japan unemployment rate street 3.4% 10:30 am AEDT Japan household spending street 0.0% 10:30 am AEDT Japan consumer prices street 0.2% 10:30 am AEDT Japan core CPI street 0.8% 12:30 pm AEDT China industrial profits previous (0.1%) 7:00 am GMT UK Nationwide house prices street 4.2% 7:45 am GMT France consumer spending street 2.8% 8:00 am GMT Spain consumer prices street (0.5%) 8:30 am GMT Sweden retail sales street 3.8% 9:00 am GMT Norway retail sales street 0.7% 9:30 am GMT UK Q3 GDP update street 2.3% 9:30 am GMT UK Q3 private consumption update street 0.7% 10:00 am GMT Greece Q3 GDP previous (0.1%) 8:30 am EST Canada raw material prices street (0.1%) 8:30 am EST Canada industrial prices street 0.3%