Monday will not be unusually light on macroeconomic releases, although attention will be focused largely outside the United States.
After data from Switzerland, investors in Europe will be watching closely the industrial production reading for October. While the data rebounded from the August low in the previous month, it did so far less strongly than expected (1.2% vs a 2.1% forecast), weighed down mainly by the consumer goods sector. For investors, the release will therefore serve as a litmus test for recent ECB signals pointing to higher growth forecasts for the euro area. In Poland, the final CPI reading for November will also be published.
Across the Atlantic, a series of releases from Canada is scheduled. The CPI reading will play a particularly important role, given the ongoing pause in interest rate cuts. In the U.S., the only release will be the regional New York manufacturing PMI.
Economic calendar for today:
07:30 GMT, Switzerland – Inflation data for November:
-
PPI: current -1.6% y/y; previous -1.7% y/y
-
PPI: current -0.5% m/m; previous -0.3% m/m
09:00 GMT, Poland – Inflation data for November:
-
CPI: forecast 2.4% y/y; previous 2.8% y/y
-
CPI: forecast 0.1% m/m; previous 0.1% m/m
10:00 GMT, Euro area – Industrial production for October:
-
Industrial production: previous 1.2% y/y
-
Industrial production: previous 0.2% m/m
13:15 GMT, Canada – Housing starts for November:
-
previous 232.8k
13:30 GMT, Canada – Manufacturing sales for October:
-
forecast -1.1% m/m; previous 3.3% m/m
13:30 GMT, Canada – Inflation data for November:
-
Monthly CPI: previous 0.2% m/m
-
Annual CPI: previous 2.2% y/y
-
Core CPI (monthly): previous 0.6% m/m
-
Core CPI (annual): previous 2.9% y/y
-
Common CPI: previous 2.7% y/y
-
Trimmed CPI: previous 3.0% y/y
-
Median CPI: previous 2.9% y/y
13:30 GMT, United States – NY Empire State Manufacturing Index for December:
-
previous 18.70
15:30 GMT, United States – FOMC member John Williams speaks
00:30 GMT, Japan – PMI data for December:
-
au Jibun Bank Services PMI: previous 53.2
-
au Jibun Bank Manufacturing PMI: previous 48.7
-
Manufacturing & Services PMI: previous 52.0
BREAKING: NY Empire Index much lower than expected! 📉
BREAKING: Mixed Inflation in Canada↔️USDCAD muted
Sanofi Under Pressure After FDA Delay and Failed Trials
Crypto news: Bitcoin slides below $90k again🚩Cryptocurrencies under pressure
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
