Market movers today
In the US , the preliminary consumer confidence data from the University of Michigan. Consumer confidence has risen significantly since Donald Trump's election victory but we think it will decline slightly from 98.5 to 97.5. However, this is still a high level, supporting our view that private consumption continues to be the main growth engine in the US.
US President Trump is scheduled to meet with Japan's Prime Minister Shinzo Abe in Japan where much focus will be on trade relations. The meeting follows this morning's phone call between Chinese President Xi Jinping and Trump (the first under Trump's term, in which Trump reaffirmed the long standing "One-China" policy stance.
In the UK , industrial production and construction data for December will reveal whether we should expect revisions to the first estimate of Q4 GDP growth of 0.6% q/q. The NIESR GDP estimate for January is also interesting, as it has been a quite good indicator for actual GDP growth.
In a thin euro area calendar most market focus will be a speech by ECB's Weidmann.
After several strong labour market reports in Canada , markets will look for some setback amid the highest quarterly change in the number of employed since 2012.
In the Scandies, focus is on the inflation prints due in Norway and Denmark . For more info see 'Scandi Markets' on page 2.
To read the entire report Please click on the pdf File Below