FXStreet (Delhi) – Research Team at Danske Bank, suggests that the US PCE inflation data and UK GDP data are the key releases for the day.
Key Quotes
“In the US monthly PCE inflation data for November are due. We estimate PCE core inflation was 0.1% m/m in November, taking the annual growth rate to 1.4%, although we admit it is a close call between 1.3% and 1.4%. We estimate headline PCE inflation was +0.1% m/m (0.5% y/y). There is no doubt the Fed would still very much like PCE core inflation to move higher and we believe this is an important reason why the Fed would like to hike slowly.”
“In the UK , the third estimate of GDP growth in Q3 is due and we do not expect any revisions. The unit labour cost figures could attract some attention due to the Bank of England s focus on wage pressure.”
“In Canada we get numbers for retail sales and GDP for October.”
(Market News Provided by FXstreet)