Good Morning Traders! This Tuesday we get UK Unemployment and German ZEW data.
Here is what to expect.
Sentiment
After pledging earlier this month to ban any new processors that provide the Asian nation AI capabilities, Commerce Secretary Gina Raimondo stated that the US is investigating the details of three new AI accelerators that Nvidia is building for China.
While consumer sentiment remained negative, Australia's business confidence fell to an 11-year low, indicating that the Reserve Bank's interest rate hikes are finally starting to hurt corporates.
According to those acquainted with the situation, President Xi Jinping and other prominent figures have begun the yearly Central Economic Work Conference to talk about China's economic objectives and strategies for 2024.
The Bank of Japan's assessment that inflationary pressure is decreasing is supported by the fact that the rate of increase in producer prices in Japan slowed in November to the lowest level in nearly three years.
A recent poll indicates that British companies operating in China are delaying investment decisions due to unstable geopolitical conditions and a bleak economic outlook. As trade relations between the two countries continue to strengthen, Australia reports that China has lifted a ban on three of the country's meat exporters.
Following the longest weekly losing run in five years due to worries that supply is surpassing demand, oil maintained steady in a lukewarm session.
Docket
02:00 AM ET
UK Unemployment Rate
Median Forecast 4.3% | Prior 4.2%
UK Unemployment Change
Median Forecast 20.3k | Prior 17.8k
05:00 AM ET
German ZEW Economic Sentiment
Median Forecast 9.5 | Prior 9.8 | Range 24.0/5.0
German ZEW Current Conditions
Median Forecast -76| Prior -79.8 | Range -73.0/-80.1
Good Luck Today Traders!
