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Week Ahead
It will be a light week on the US economic calendar, with investor focus turning to flash Markit PMIs, existing home sales and corporate earnings. Elsewhere, flash PMI surveys for the UK, Eurozone, Japan and Australia will also be in the spotlight, alongside UK unemployment and wage data; Eurozone consumer confidence; and Japan trade balance and inflation rate. The PBoC, ECB and BoJ will provide an update on monetary policy, while traders will also keep an eye on WEF annual meeting that will take place in Davos.
Jan 17, 2020 19:00 (GMT)
Nigeria December Inflation Rate Rises Further to 11.98%
The annual inflation rate in Nigeria increased to 11.98 percent in December of 2019 from 11.85 percent in the prior month, remaining at the highest level since April 2018. Prices rose for all categories, especially food, amid the country’s ongoing border closures and increased seasonal demand during the Christmas season.
Jan 17, 2020 13:36 (GMT)
Italy December Inflation Rate Confirmed at 6-Month High of 0.5%
The annual inflation rate in Italy rose to 0.5 percent in December 2019 from 0.2 percent in November and matching the preliminary estimate. It was the highest inflation rate since June, boosted by prices of transport and food & non-alcoholic beverages.
Jan 17, 2020 12:42 (GMT)
China Economy Expands 1.5% QoQ in Q4
The Chinese economy expanded by a seasonally adjusted 1.5 percent on quarter in the three months to December 2019, following a downwardly revised 1.4 percent growth in the previous quarter and matching market consensus.
Jan 17, 2020 12:42 (GMT)
Italy Trade Surplus Widens in November
Italy's trade surplus increased to EUR 4.872 billion in November 2019 from EUR 3.975 billion in the corresponding month of the previous year but missing market estimates of a EUR 6.106 billion surplus. Imports slipped 5.9 percent, mainly dragged by lower purchases of transport equipment, namely vehicles, basic metals & metal products and chemicals. Exports fell at a softer 3.2 percent, amid lower sales of machinery & equipment, transport equipment, mostly other transport equipment, basic metals & metal products and coke & petroleum products.
Jan 17, 2020 12:13 (GMT)
Eurozone Inflation Rate Confirmed at 6-Month High
Eurozone inflation rate was confirmed at 1.3 percent year-on-year in December 2019, the highest level since June and compared to November's 1.0 percent.
Jan 17, 2020 10:16 (GMT)
South Korea Holds Key Rate Unchanged at 1.25%
The Bank of Korea kept its base rate unchanged at 1.25 percent on January 17th 2020, as widely expected, amid easing global trade tensions and signs of domestic economic recovery following efforts from the government to step up fiscal spending. Policymakers said they will maintain accommodative monetary policy stance ahead as pressures on the demand side will remain low and the economy will grow moderately. In this process, they will judge whether to adjust monetary policy accommodation, while carefully monitoring developments in global trade disputes, the overseas countries and geopolitical risks.
Jan 17, 2020 04:55 (GMT)
China 2019 GDP Growth Weakest in Near Three Decades
The Chinese economy advanced 6.0 percent year-on-year in the December quarter of 2019, the same as in the previous quarter and matching market expectations. This remained the weakest growth rate since the first quarter of 1992, amid trade pressure from the US and sluggish demand from home and abroad. Considering full 2019, the economy grew by 6.1 percent, the slowest pace in 29 years but still within the government's target of 6 to 6.5 percent.
Jan 17, 2020 04:07 (GMT)
South Africa Unexpectedly Cuts Repo Rate to 6.25%
The South African Reserve Bank voted unanimously to trim its benchmark repo rate to 6.25 percent during its first policy meeting of 2020, while markets had expected it to be kept steady. It was the first rate cut since July, bringing borrowing costs to the lowest level since November 2015. The decision came amid lower inflation forecasts and the country's persistent economic vulnerability.
Jan 16, 2020 15:06 (GMT)
US Retail Sales Rise 0.3% in December
Retail sales in the United States increased 0.3 percent month-over-month in December of 2019, following an upwardly revised 0.3 percent gain in the previous month and matching market expectations. Sales rebounded for food and drinks, clothes, and electronics and appliances and rose faster for gasoline. In contrast, sales of motor vehicles declined. Considering full 2019, retail sales went up 3.6 percent, after a near 5 percent gain in 2018 which was the largest in six years and reflected a boost from tax cuts.
Jan 16, 2020 14:13 (GMT)
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