Market movers today
Today, euro area HICP inflation figures for January are set to be released. Energy price inflation has maintained the upward lift to headline inflation, which we expect to rise to 1.5% y/y in January, up from 1.1% y/y in December. However, we still see no signs that core inflation is picking up, expecting it to remain at 0.9% in January.
The euro area unemployment rate for December is also due to be released. We estimate the unemployment rate declined further to 9.7% in December, driven by expectedly solid growth in Q4 16.
For the euro area GDP figures for Q4, we estimate GDP growth of 0.5%, supported by solid readings from survey indicators.
In the US, the January Conference Board consumer confidence index is also due out today, which we expect will continue to signal consumer optimism at decade high levels.
In the Scandi countries, unemployment data for Denmark is due out. See next page.
To read the entire report Please click on the pdf File Below