A deluge of economic data will make headlines on Friday, giving investors a final taste of the global economy ahead of the Christmas long weekend.

Action begins at 07:00 GMT with a report on German consumer confidence courtesy of GfK. The monthly indicator is expected to show a reading of 10.8 for January.

The French government will report on producer inflation, consumer spending and third quarter GDP at 07:45 GMT. France’s economy likely expanded 0.5% on the quarter, according to a median estimate of analysts.

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The United Kingdom’s Office for National Statistics will report on third quarter GDP, business investment and the current account balance at 09:30 GMT.

Shifting gears to North America, the US Department of Labor will report on personal income and outlays at 13:30 GMT. Personal income from all sources is projected to grow 0.4% month-on-month. Personal spending is projected to grow 0.5%.

The core personal consumption expenditure (PCE) index – the Federal Reserve’s preferred measure of inflation – is projected to rise 1.5% annually. That’s well below the central bank’s 2% target.

A report on durable goods orders will also make headlines at 13:30 GMT. Orders for manufactured goods meant to last three years or more is forecast to rise 2% in November after falling 0.8% the month before. Excluding transportation, durable goods orders likely rose 0.5%, according to analysts.

The Commerce Department will report on new home sales at 15:00 GMT. New home sales are projected to fall 4.7% in November.

Other US data releases on Friday including the Michigan consumer sentiment index and the Kansas City Fed’s manufacturing index.

North of the border, the Canadian government will release the latest GDP numbers for the month of October. Monthly GDP is projected to climb 0.2% following an identical increase the previous month.

EUR/USD

The EUR/USD traded within a narrow range on Thursday, as investors awaited fresh trading catalysts in the form of economic data. The EUR/USD exchange rate was last down 0.1% on Friday to 1.1849. Cable faces immediate support at 1.1815, the low from Thursday. Resistance is likely found at 1.1900.

GBP/USD

Thursday was a relatively uneventful session for cable, as the pair hovered within a narrow range. The GBP/USD exchange rate was little changed at 1.3378 Friday. Support levels include 1.3375 and 1.3340. Resistance comes in at 1.3420 and 1.3465.

USD/CAD

The USD/CAD fell to fresh weekly lows on Thursday, as the pair continued its long descent from 1.2900. The pair touched a session low near the 1.2700 support before recovering around 1.2743. The pair faces immediate resistance at 1.2785, which corresponds with the 50-DMA. On the downside, support is located near the Thursday low of 1.2720.

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