Monday: December’s Rightmove National Asking Price will be published in the U.K. In Japan, November’s final Industrial Production report will be published, after the previous report indicated a -3.8% annual contraction.
Tuesday: China’s fourth quarter GDP will draw ample attention with analyst expectations of 7.2% growth. Italy’s November Trade Balance will be released and in Germany, analysts expect positive data in the ZEW Survey, with an expected 3 point increase at the ‘Current Situation’ component, and 6.1 points in ‘Expectations’.
Wednesday: November’s All Industry Activity Index will be released in Japan, with analyst expecting no change. Analysts expect to see an improvement in December’s Jobless Claims data, to be released in the U.K. In the U.S., the weekly MBA Mortgage Applications will be released, after surging by nearly 50%, last week, most of it due to refinancing, though.
Thursday: Expect to see the fourth quarter's Unemployment rate published in Spain, after receding to "just" 23.7% last quarter. The day is also due to see the ECB make a rate announcement. ECB president Mario Draghi will hold a press conference for this, where he is also expected to introduce a government bond purchase program. In the U.S., the weekly Initial Jobless Claims will be released, in hope of recovering from last week's 316K print. Advance Eurozone Consumer Confidence Index for January will be released.
Friday: Some preliminary January Purchasing Managers Indices will be published globally. We see the Chinese, Eurozone Aggregate and U.S. prints as having the capacity to move markets. The day will conclude with the U.S. Existing Home Sales and Leading Index for December.
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