Market movers
As the holiday season is just around the corner, market movers will be limited. However, if the US Congress and President Trump do not reach an agreement on the budget, we may have a government shutdown starting on Saturday 22 December.
The next data point on the agenda is the US jobs report due out on 4 January, where we expect 190,000 new jobs. More importantly, we estimate average hourly earnings rose +0.25% m/m in December (equivalent to 2.9% y/y).
Similarly, 4 January is the next focal point in the euro area as the inflation report is due out. We expect headline to remain at 1.9%, but core inflation to tick up to 1.1%.
We expect little news on the Brexit turmoil and US-China trade war during the holiday season.
To read the entire report Please click on the pdf File Below..