Good Morning Traders! This Thursday we get German unemployment and Eurozone CPI data.
Here is what to expect.
Sentiment
In November 2023, China's industrial activity declined once more, while a measure of the services sector shrank for the first time this year. These trends point to a slowdown in the country's economic growth until the last few weeks of 2023.
Toyoaki Nakamura, a board member of the Bank of Japan, argues that the bank must proceed cautiously, therefore it will take some time before it can change monetary policy.
As consumers cut back on discretionary spending, US economic activity declined in recent weeks, according to the Federal Reserve's "Beige Book" survey of local business contacts.
October saw a higher-than-expected increase in industrial production in Japan, providing new evidence of the country's economic resiliency as improved supply chains supported automakers and inventory adjustments supported the electronics parts sector.
Even though corporations upped their projected outlays for the upcoming fiscal year, Australian business investment missed predictions in the three months ending in September.
Following a two-day surge, oil prices stabilised as traders await a crucial meeting where OPEC+ will decide on output policies for the upcoming year.
Docket
03:55 AM ET
German Unemployment Rate
Median Forecast 5.8% | Prior 5.8%| Range 5.9%/5.7%
German Unemployment Change SA
Median Forecast 20k | Prior 30k | Range 40k/10k
05:00 AM ET
Eurozone Core CPI YoY Flash
Median Forecast 3.9% | Prior 4.2%| Range 4.1%/3.7%
Eurozone CPI YoY Flash
Median Forecast 2.7%| Prior 2.9% | Range 3.3%/2.6%
Eurozone Unemployment Rate
Median Forecast 6.5% | Prior 6.5% | Range 6.6%/6.5%
Speakers
04:30 AM ET
ECB's Panetta Speaks
Good Luck Today Traders!
