Economic data on the day saw the UK’s average earnings increased by3.3% in the three months ending October. The data beat estimates of a 3.0% increase. Previous data was revised higher to show a 3.1% reading. The UK’s unemployment rate was unchanged at 4.1%.
Germany’s ZEW economic sentiment was seen at -17.5, which was better than the expected – 25.0 while the Eurozone’s ZEW economic sentiment was better at -21.0 compared to forecasts of -23.2.
The U.S. producer price index data was seen rising 0.1% on the month compared to a low estimate. The pace of increase was slower than the 0.6% that was registered the month before. Core PPI was seen rising by 0.3% compared to 0.1% forecast.
Japan’s producer prices data which was released earlier in the day showed a 2.3% increase on the year. Economists polled expected a 2.4% increase on the PPI. The European session will see the industrial production numbers coming out. Industrial production is forecast to rise 0.2% on the month. This follows a 0.3% decline previously.
The NY trading session will see the monthly inflation data coming out. Headline CPI is forecast to remain flat for the period after a 0.3% increase previously. The core inflation rate is expected to rise at the same pace as the previous month at 0.2%.
