Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow
US Housing, Manufacturing, Labor Data
The Commerce Department home building activity for December is expected show building permits fell 1% to a seasonally adjusted annual rate of 1.290 million units, while housing starts are expected to show a decline to 1.275 million.
The Labor department releases its weekly count of the number of individuals who filed for unemployment insurance for the week ended Jan 13. Economist forecast initial jobless claims to fall by 11,000 to 261,000.
Economists forecast the Philly Fed manufacturing index for January to show a reading of 25, slightly below the 27.9 reading in the previous month.
Ahead of the duo of reports the dollar, rose 0.10% against its rivals to 90.32.
Energy Information Administration Weekly Inventory Report
A fresh batch of inventory data from the Energy Information Administration (EIA) on Thursday is expected to show that U.S. crude stockpiles fell for the ninth-straight week.
Analysts forecast crude inventories fell by about 3.5 million barrels in the week ended Jan 12.
Crude oil futures settle higher on Wednesday amid optimism over ongoing OPEC-led output cuts and oil demand growth.
UK Manufacturing Data
China is expected to show gross domestic product grew 6.7% year on year in the fourth quarter, slightly below the 6.8% growth in the previous period. The slowdown in growth comes amid slowing investment across the economy which has been offset somewhat by solid export growth, which continued to benefit from rising global economic growth.
Economists forecast Chinese Industrial production rose at a 7.1% annual rate through December.
China’s economic growth is closely tracked by commodity such as gold as the far-east nation is the largest commodity consumer.