The third week of December was packed with activity, featuring Fed, Bank of Japan, and Bank of England meetings, along with key inflation and retail sales data from the UK, US, and Canada.
Germany:
● At 8:30 a.m. GMT, December's Purchasing Managers' Index (PMI) data was released. Manufacturing PMI dipped from 43.0 to 42.5, while Services PMI increased from 49.3 to 51.0.
Eurozone:
● At 9:00 a.m. GMT, the Eurozone PMIs were announced. Manufacturing PMI held steady at 45.2, while Services PMI climbed from 49.5 to 51.4.
Great Britain:
● At 9:30 a.m. GMT, December's Purchasing Managers' Index (PMI) data was published. Services PMI increased from 50.8 to 51.4, while Composite PMI stayed steady at 50.5.
United States:
● At 2:45 p.m. GMT, December's business activity indices (PMI) were released. Manufacturing PMI dropped from 49.7 to 48.3, while Services PMI declined from 56.1 to 58.5.
Great Britain :
● At 7:00 a.m. GMT, the labor market report was published. The October unemployment rate held steady at 4.3%, while average wages, including bonuses, increased by 5.2%, up from 4.4%. November's unemployment benefit claims rose by 0.3 thousand, compared to a previous decline of 10.9 thousand.
Germany:
● At 9:00 a.m. GMT, the IFO Business Climate Index for December was announced, decreasing from 85.6 to 84.7.
● At 10:00 a.m. GMT, the ZEW Economic Sentiment Index was released, showing an increase from 7.4 to 15.7.
United States:
● At 1:30 p.m. GMT, November's retail sales data was published. The Core Retail Sales Index stayed at 0.2%, while overall retail sales growth rose from 0.5% to 0.7%.
Canada:
● November's inflation data was released at 1:30 p.m. GMT. Core CPI decreased by -0.1% month-over-month and 1.6% year-over-year, while overall CPI remained unchanged at 0.0%, down from 0.4% earlier.
Great Britain:
● At 7:00 a.m. GMT, the November inflation report was published. The year-over-year consumer price index increased from 2.3% to 2.6%, while the month-over-month figure dropped from 0.6% to 0.1%.
Eurozone:
● At 10:00 a.m, GMT, November's inflation data was published. The year-over-year consumer price index rose from 2.0% to 2.2%, while the month-over-month figure declined from 0.3% to -0.3%.
United States:
● At 3:30 p.m. GMT, the Energy Information Administration (EIA) released its weekly crude oil inventory report, showing a decrease of 0.934 million barrels, following a prior drop of 1.425 million barrels.
● At 7:00 p.m. GMT, the Federal Reserve ended its meeting, lowering the key interest rate from 4.75% to 4.50%, accompanied by the release of the FOMC statement.
● At 7:30 p.m. GMT, the FOMC press conference took place.
Japan:
● At 2:55 a.m. GMT, the Bank of Japan released its Monetary Policy Report, maintaining the interest rate at 0.25%.
Great Britain:
● At 12:30 p.m. GMT, the Bank of England announced its decision to maintain the interest rate at 4.75%, accompanied by the release of the Monetary Policy Committee meeting minutes.
United States:
● At 1:30 p.m. GMT, the third-quarter GDP report was released, showing the economy grew by 3.1%, up from 3.0%.
● Simultaneously, the weekly unemployment benefits report indicated 245,000 claims, an increase from 220,000 previously.
● The Philadelphia Fed Manufacturing Index for December dropped to -16.4, compared to -5.5 earlier.
● At 3:00 p.m. GMT, data on existing home sales for November was published, showing 4.15 million sales, up from 3.96 million previously.
Great Britain:
● At 7:00 a.m. GMT, November retail sales data is set to be released, with expectations of a 0.5% year-over-year increase, down from the previous 0.7%.
United States:
● At 1:30 p.m. GMT, the personal consumption expenditure report will be released. The core price index is projected to be 0.2%, down from 0.3%, while personal expenditure is expected to increase by 0.5%, slightly higher than the previous 0.4%.
Canada:
● At 1:30 p.m. GMT, October's retail sales report will be released. The core index is forecasted to increase by 0.5%, down from 0.9% previously, while total sales are expected to remain steady at 0.4%.
153