EUROPEAN SESSION
In the European session, the main highlight was the monthly UK GDP report. The data beat expectations across the board but didn’t change anything for the BoE as the central bank’s focus remains mostly on inflation.
UK GDP YoY
Looking ahead, we get a few low tier releases like the final French and Spanish CPI data and Eurozone Industrial Production. None of the data is going to change anything for the ECB.
AMERICAN SESSION
In the American session, the main highlight is going to be the US Jobless Claims data. Initial Claims are expected at 215K vs 208K prior, while Continuing Claims are seen at 1893K vs 1914K prior. Jobless Claims continue to point to a “low firing, low hiring” labour market with some minor improvement.
US Jobless Claims
The data is unlikely to change much in terms of expectations unless we get big deviations from the estimates. We have also the Philly Fed index and the November import/export prices on the agenda but those aren’t market moving releases.
CENTRAL BANK SPEAKERS
- 09:00 GMT/04:00 ET – ECB’s de Guindos (neutral – voter)
- 13:35 GMT/08:35 ET – Fed’s Bostic (hawkish – non voter)
- 14:15 GMT/09:15 ET – Fed’s Barr (neutral – voter)
- 17:40 GMT/12:40 ET – Fed’s Barkin (neutral – non voter)
- 18:30 GMT/13:30 ET – Fed’s Schmid (hawkish – non voter)
