The week ahead: 12/12/22
This week brings the last interest rate decisions of the year for the US, the UK and Europe, plus German, US, UK, French and eurozone CPI data, UK labour market figures and the UK, Japanese and eurozone trade balance. A light earnings schedule includes Oracle, Lennar, Adobe, Ceconomy, Currys, Accenture and Darden Restaurants.
Monday 12 December
In the UK we’ll see the latest industrial and manufacturing production data on Monday, along with the GDP monthly estimate and the October trade balance, as the UK’s surplus in services struggles to match its deficit in goods. Meanwhile in the US the November federal budget balance is published, and enterprise software multinational Oracle posts quarterly earnings.
Tuesday 13 December
We’ll get an update on the UK labour market on Tuesday with the latest employment data including average earnings and claimant count change. Other notable releases include the Australian NAB business confidence, German and US CPI, German and eurozone ZEW economic sentiment and OPEC’s monthly oil production report. Late in the day the Australian Westpac consumer sentiment is released, plus the Japanese tankan survey of business confidence.
Wednesday 14 December
UK inflation is in the spotlight on Wednesday with the latest CPI and PPI data. Annual CPI inflation presently stands at a 41-year high of 11.1%. Also look out for Japanese and eurozone industrial production, the US import and export price indices and the Japanese trade balance. The Fed will announce its latest decision on US interest rates along with its economic projections, and US housebuilder Lennar is due to report to the market.
Thursday 15 December
Design software firm Adobe announces quarterly earnings on Thursday, after last week cutting 100 jobs amid the tech slump. Updates are also scheduled from electronics retail groups Ceconomy and Currys. The Bank of England announces its latest monetary policy decision at midday, closely followed by the ECB’s own rate call, while other key data includes Australian employment change, Chinese and US industrial production, French CPI, US retail sales and the Philadelphia Fed and NY Empire State manufacturing indices.
Friday 16 December
We end the week with figures from professional services company Accenture and US multi-brand restaurant operator Darden Restaurants, as weekly US restaurant sales show 7% growth year-on-year. Keep an eye out too for UK retail sales, the flash Australian (on Thursday night), Japanese, French, German, eurozone, UK and US manufacturing and services PMI, and the latest eurozone CPI and trade balance.
Published: 12 December 2022
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