Eurozone PMIs and US retail sales amongst market movers today – Danske Bank
Analysts at Danske Bank point out that today, we get flash December PMIs for the US and euro area and are going to be the key economic events for today’s session.
“In particular, we will monitor the European ones, as euro area growth has disappointed this year and in November, the euro area PMI composite fell to a four-year low. We look for another small decline in the PMI manufacturing to 51.3 in line with the still negative order-inventory balance but we still see scope for a stabilisation in PMI services at 53.5.”
“In the US, retail sales in November are due out at 14:30 CET. We expect private consumption to remain the most important growth driver going forward.”
“We expect the Russian central bank to hike the policy rate 25bp to 7.75% today at 12.30 CET. Economists are divided on a hike with some 60% expecting an unchanged policy rate. While we expect a hike, it is a close call and we do not have any clear signals.”