Market movers today
The UK labour market report for November is due out at 10:30 CET. While we have noticed small signs that the labour market recovery is on pause, the impact of Brexit uncertainties has so far been quite modest. We estimate the unemployment rate (3M average) was unchanged at 4.8% but that average weekly earnings (3M average) fell to 2.5% y/y (from 2.6%).
US CPI inflation figures for December are due out at 14:30 CET. In our view, higher core inflation will be one of the triggers for Fed hikes this year. We look for a reading of 0.2% m/m or 2.1% y/y, although risks are on the upside, in our view.
US December manufacturing production data is due to be released at 15:15 CET. Although the increase in global PMIs has yet to transform into higher actual manufacturing production, we are optimistic about today's figures, looking for a 0.5% m/m increase in line with consensus.
Fed Chair Janet Yellen is due to speak tonight at 21:00 CET.
To read the entire report Please click on the pdf File Below